Washington, DC – This week ISI Consultants Managing Director, Ross Ensor participated in the National U.S.-Arab Chamber of Commerce (NUSACC) expert roundtable series. At the roundtable was the U.S. Ambassador to Oman, the Honorable Marc Sievers. He was joined by her Excellency Hunaina Al-Mughairy, Oman’s Ambassador to the United States.
Over the course of his remarks, Ambassador Sievers noted that the new administration is working closely with the Omani government to bring new foreign investment to both Oman and the United States. He highlighted the Omani diversification strategy, Tanfeedh, which involves addressing the decreasing prices in the oil market as well as two “cross-sectorial enablers,” Finance and Human capital development. Oman is looking to expand or reform several sectors of their economy as part of the Tanfeedh: manufacturing, tourism, fisheries, mining & minerals, healthcare, and oil & gas.
ISI’s Ross Ensor inquired about opportunities for companies in the power sector. H.E. Al-Mughairy responded by detailing how Oman is a growing country – experiencing 3% population growth - that is quickly urbanizing. Furthermore, Oman has plans to build a national railway, roads, and deep-water ports that, Sievers, described as “an area of tremendous potential.”
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