Oman beckons Lankan investment for Sohar Free-zone | Daily News

Oman beckons Lankan investment for Sohar Free-zone

Oman Ambassador to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi presented a memento by officials of the National Chamber of Commerce of Sri Lanka. Picture by Sarath Pieris
Oman Ambassador to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi presented a memento by officials of the National Chamber of Commerce of Sri Lanka. Picture by Sarath Pieris

Oman Ambassador to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi highlighted the need to take concerted and effective measures to give a further fillip to existing bilateral relations between Sri Lanka and Oman.

He also invited Sri Lankan entrepreneurs to invest in the 11,000-acre Sohar Free-zone, Oman.

Sohar Free-zone is Oman’s joint venture with the Port of Rotterdam and is one of the fastest developing port cum economic zones in the world, therefore vast amount of space is available for Sri Lankan exporters too, the ambassador said.

The ambassador made these remarks speaking at the ‘Meet the Oman Ambassador of Sri Lanka; Bi-lateral Trade Between Sri Lanka –Oman,’ seminar, organized by the National Chamber of Commerce of Sri Lanka.Oman sees Sri Lanka as a strategic partner and Sri Lanka too has identified Oman as one of the potential markets that Sri Lankan entrepreneurs and exporters could enter easily due to its rich market conditions. The ambassador also highlighted potential business opportunities available in Oman, in the areas of warehousing and logistics, tourism sector, commercial offices, residential complexes and mining. exports from Sri Lanka to Oman include desiccated coconut, tea, fresh fruits, vegetables, nuts and seeds, processed food, etc.

Also imports from Oman to Sri Lanka include petroleum products, light oils, polymers, unwrought aluminum and amino resins.Oman has oil reserves and categorized as a high-income economy.Oman is the 59th largest export economy in the world and 13th export destination among the Middle East countries to Sri Lanka. Total trade between Oman and Sri Lanka was $ 45 million in 2016; the value of exports was $ 7 million and imports being $ 38 million.

Oman is home to 4.5 million people including 1.5 million expatriates and currently produces one million barrels of oil per day.The strategic location of Oman has created many opportunities for the country to attract potential business opportunities from all over the world. 

 


 

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