InvestOman Business Dialogue

 Posted by Nathan Book

On May 16,  the World Trade Center Harrisburg team had the privilege of attending a business dialogue with several Omani delegates at the Lancaster Chamber of Commerce. This event was part of a broader effort to highlight strategic investment opportunities and strengthen economic ties between Oman and the United States, as evidenced by the inauguration of the Omani Trade Office in the U.S. this month. The discussion offered valuable insights into Oman’s investment offerings and opened the door for future collaboration with regional businesses.

The delegation’s visit to the Lancaster Chamber was one of several such events taking place in Delaware and Pennsylvania. The group was led by Saud Al Nahari, Oman Chamber of Commerce and Industry (OCCI) Board Member and Head of the Investment Committee, and included fellow Board Members and staff from OCCI as well as representatives from the Ministry of Commerce, Industry and Investment Promotion (MCIIP). Also in attendance was the newly formed Oman Trade Office U.S. team: Emmee Haun and Nasim Sadr-Fala. Notably, the trade office is the first of its kind in the United States, established entirely via private funding from OCCI .

After a brief period of networking and introductions, members of the Omani delegation delivered a thoughtful and informative presentation outlining strategic investment opportunities for American businesses. The presentation clearly communicated Oman’s vision for attracting international investment and highlighted key advantages for American companies considering foreign direct investment (FDI) in the country, including:

●      A strategic location providing easy access to key export markets like India, Africa, and the rest of the Middle East via major land and sea routes

●      The presence of special economic zones (SEZs)– such as the coastal cities of Duqm, Sohar, and Salalah– that offer quality infrastructure and favorable tax and regulatory policies, reducing risk and cost to American companies

●      A national vision for economic diversification, sustaining economic growth through industries such as tourism, manufacturing, and logistics in addition to oil

●      Reforms fostering a business-friendly environment, notably in foreign companies’ ability to maintain 100% business ownership in certain sectors

The visit marked a significant milestone in economic relations between the two countries, signaling a deepening of the bilateral ties instituted by the United States-Oman Free Trade Agreement. Entering into effect in 2009, this agreement reduced or eliminated many prior barriers to trade between the two nations, fostering an increase in the exchange of goods and services. This means that American companies enjoy duty-free access to all industrial and consumer products in Oman, further incentivizing them to pursue business there. Thus, the Omani delegation’s visit reinforced this foundation by creating further opportunities for dialogue and partnership, bringing this agreement to life even more through enhanced commercial engagement.

It was a valuable opportunity to hear directly from Omani representatives and Pennsylvanian stakeholders about the growing potential for international partnerships. As emphasized in the presentation, such partnerships hold immense value, as they are mutually beneficial and effectively support shared and sustained economic growth. With this shared vision in place and the Omani Trade Office established, the U.S.-Oman economic relationship is bound to deepen further, and I was immensely grateful to have been part of such an important conversation.