First Edition of Advantage Oman Forum Kicks Off
Muscat, 27 Apr (ONA) —— HH Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, graced the opening of the first international investment forum “Advantage Oman,” organized by the Ministry of Commerce, Industry, and Investment Promotion.
The two-day event, held at the St. Regis Al Mouj Resort in Muscat, brings together over 250 prominent figures, including senior officials, decision-makers, and regional and international investors, highlighting Oman’s position as a promising investment destination.
In his opening speech, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, emphasized that this forum marks a first-of-its-kind strategic event for Oman, attracting top decision-makers, business leaders, and investors across key sectors. The forum comes as Oman experiences significant growth in economic and investment fields, supported by rising international indicators.
He noted that the forum coincides with a period of increasing momentum in Oman’s economic and investment sectors. Foreign direct investment (FDI) inflows grew by 16.2% in Q3 2024 compared to the same period in 2023. Additionally, Oman’s credit rating was upgraded to *BBB-* with a stable outlook by Standard & Poor’s.
The Minister of Commerce, Industry, and Investment Promotion stated that Oman’s GDP is expected to grow by 3.4% this year, outperforming many global economies—a testament to the resilience of the national economy and international market confidence.
The first day of the forum featured five key sessions addressing major global economic trends. The first session explored future outlooks and transformative shifts, focusing on the impact of advanced technologies like artificial intelligence, climate tech, and hyper connectivity on the global economy, while stressing innovation and sustainability as pillars of competitiveness.
The second session, “The Risk-Reward Equation in a Changing World," highlighted the importance of calculated risks in institutional success, emphasizing risk culture, psychological safety, and examples of bold decision-making during times of change.
The third session, “Business Decisions – Environmental Challenges and Corporate Responsibility," discussed corporate accountability for climate change and biodiversity loss, proposing solutions like the circular economy and green technologies, with a focus on public-private collaboration for environmental preservation.
The fourth session examined “Creative Leadership in a Rapidly Changing World," showcasing how leaders can adopt bold, non-traditional approaches—illustrated by real-world examples of organizations reinventing themselves through creativity.
HH Sayyid Shihab bin Tarik Al Said toured the forum’s accompanying exhibition, featuring participants from government entities and private sector institutions.
The fifth session underscored “The Power of Storytelling in Building Brand Trust and Loyalty," exploring how organizations can transform data and values into compelling narratives that resonate with audiences.
The second day will include panel discussions with decision-makers, investor networking opportunities, success story presentations, new investment partnership signings, and specialized roundtables in priority sectors such as tourism, logistics, mining, food security, renewable energy, and information technology.
—— Ends/AH
