MUSCAT, OCT 14
Companies announced investment plans in oil waste processing, engineering and pharmaceutical manufacturing at the Inspire Oman Investors Summit 2026 on Wednesday, as Oman seeks to attract capital and expand private-sector partnerships.
Premium Global Group announced plans to invest $10 million in a facility for the partial refining and processing of oil waste in the Special Economic Zone at Duqm. Hotpack and Sea Pride signed a memorandum of understanding in the packaging sector.
Other announcements included an engineering and manufacturing facility by E M Badr El-Din & Co, a pharmaceutical manufacturing investment by Avenzo Pharma in Khazaen Economic City and Al Fardan’s launch of the Bianca Luxury project in the same economic city.
The summit, held under the theme ‘Where Vision Meets Investment’, brought together investors, business leaders and other stakeholders to discuss opportunities across Oman’s economy.
Held under the auspices of HH Sayyid Mohammed bin Salim al Said, it was attended by Shaikh Faisal bin Abdullah al Rawas, Chairman of the Oman Chamber of Commerce and Industry (OCCI).
Al Rawas said Oman’s location along global trade routes, proximity to markets in the GCC, Asia and Africa, and investment in ports, economic zones and industrial cities strengthened its appeal to regional and international investors.
He said efforts to diversify the economy were accompanied by improvements to legislative and regulatory frameworks, simpler business procedures and the expansion of digital services.
Changes in global supply chains, a growing emphasis on energy and food security, and advances in technology and industry were increasing the importance of investment destinations offering stability, competitiveness and access to markets, he said.
The summit provided an opportunity to strengthen economic ties, identify investment opportunities and develop partnerships, Al Rawas added.
Prashant Pise, India’s Ambassador to Oman, said opportunities in both countries offered scope for Omani and Indian companies to establish joint ventures, combine expertise and resources, and expand into regional and international markets.
He described the Comprehensive Economic Partnership Agreement between Oman and India as a significant step towards increasing bilateral trade and investment.
The agreement would create opportunities for businesses in both countries and support the further development of their economic partnership, he said.
Abdul Latheef Moideen Kunhi, an OCCI board member and head of its Foreign Investment Committee, said Oman’s transport networks, logistics services and economic and free zones supported investment in production, trade and exports.
These advantages could help attract investment, increase the private sector’s contribution to economic activity and develop projects that add value to the economy, he said.
Shabeer K A, Director of Lulu Hypermarket in Oman, urged established investors to encourage other businesses to explore the market.
“The Sultanate of Oman offers numerous opportunities across diverse sectors and plays a crucial role in the current global landscape,” he said.
He added that opportunities were available to businesses of all sizes, reflecting the range of investment prospects across the country.
Panel discussions examined entrepreneurial experiences and investment opportunities in the circular economy, energy efficiency and fisheries. Participants also discussed how environmental solutions could be developed into commercially scalable businesses.
Other sessions focused on artificial intelligence and innovation, including their potential to improve business operations, raise efficiency and strengthen competitiveness. Discussions also explored how modern technologies could support organisational development and open new avenues for growth.
