KARACHI: A high-profile trade delegation of Oman visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and invited Pakistani businessmen to invest in the Gulf country.
President FPCCI Mian Nasser Hyatt Maggo welcomed the trade delegation of Oman led by Engineer Redha Al-Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI). Pakistan’s Ambassador to the Sultanate of Oman Ahsan Wagan was also present on the occasion.
During the detailed visit, the delegation discussed the wide-ranging trade, industry and commercial avenues of cooperation, investments and joint ventures. The session was followed by interactive Business-to-Business (B2B) meetings between the trade and industry leaders of the two sides.
In his welcome address, Mian Nasser Hyatt Maggo said that bilateral trade between the two brotherly countries can be increased multifold if the right sectors are targeted and visa procedures of Oman are more swift and facilitative for Pakistani traders.
Redha Al-Saleh said that Oman is interested in importing more textile products, meat and livestock, fruits and vegetable, surgical goods, skilled and semi-skilled workforce from Pakistan.
He said that the vibrant and fast-developing IT sector of Pakistan is another area of cooperation, investments and joint ventures between Pakistan and Oman. He also mentioned that the rules and regulations in Oman have been relaxed to encourage foreign investment and entrepreneurs can register their businesses in Oman within 48 hours now.
He added that now foreigners do not need to have mandatory ownership of an Omani national to start their business in Oman like before and, on top of that, taxes are on a lower side in Oman as compared to many competing markets.
He also apprised the audience of Oman’s Vision 2040 and the measures being taken to make Oman a business-friendly destination. “There is a world-class direct road being built between Oman and Kingdom of Saudi Arabia (KSA) to further strengthen economic, commercial and tourism linkages with Gulf Cooperation Council (GCC) countries and beyond,” he added.
Ahsan Wagan stated that there are 260,000 Pakistani nationals in Oman. They are contributing in all fields; be it medical services, construction sector, industries, banking, IT services or semi-skilled jobs, he added.
He expressed satisfaction that Pakistanis working in Oman are the third-largest contributors of foreign exchange and remittances from the Gulf after Saudi Arabia and UAE and Middle East region and send approximately one billion dollars annually to Pakistan.