Omani Shura Council chairman Al-Maawali: We want to boost cooperation with Russia in all areas
Khalid bin Hilal Al-Maawali
Photo: The State Duma of the Russian Federation
Chairman of the Sultanate of Oman Shura Council Khalid bin Hilal Al-Maawali is on a three-day visit to Moscow. Al-Maawali, answering Interfax's questions, spoke about Oman's openness to foreign investment and promising areas for advancing relations with Russia on the sidelines of a conference dedicated to the prospects and particular features of doing business in Oman, which is taking place at the Russian Chamber of Commerce and Industry.
Q.: How do you see Oman's role in a changing world, with the emergence of new development centers? In your opinion, could Oman become a new regional power?
A.: As you know, Oman has always complied with all international legislation. Oman became a member of the World Trade Organization, signed many free trade agreements, and we are doing everything in line with international law, that is the first thing. Secondly, Oman's strategic position, the fact that the country is located on one of the world's core maritime trade routes, makes the country attractive to investors. The country is opening up to foreign direct investment and we would like to increase it. Russia, as a major market, is very important to us and we would like to step up the development of our relations in all areas. Oman, His Majesty [Sultan of Oman Haitham bin Tariq] is focusing on the economy, I am sure it will be attractive for businesses from Russia as well as from other countries. There are certain sectors of the economy that we see as the most promising - oil and gas, mining, as well as tourism and logistics. The crucial project for us now is the Duqm port, and accordingly, we hope that many investors will be able to find opportunities to invest in Oman. We welcome this, the Oman Chamber of Commerce also plays its role, and we as lawmakers ensure that legislation is in line with what investors need.
Q.: Is it possible to expand cooperation in new areas, such as advanced technology, IT? What is Oman doing in this regard?
A.: The world does not stand still, as you know. We do not talk about advanced technologies, artificial intelligence in isolation from the economy as a whole, but these are essential areas for Oman, and we are paying special attention to them. We do not want to lag behind, and if we do not develop these sectors, we could definitely end up being a laggard. If there are any opportunities, we want to ensure that we have a platform to establish companies, promote cooperation and so on. We hope that this event can become a tool to find out what businesses need in Russia. Such an event could also take place in Oman, so that we could find out what Omani businessmen are interested in. I think the embassies could help with this.