Lucrative deals await Malaysian firms in Oman


Title : 10 Golden Rules Of Investing In Stock Market

Please signup with your email, below.

We respect your email privacy

Subscriber Counter

MALAYSIAN companies have been invited to take part in lucrative infrastructure deals in Oman.

The country will also invest a total of US$ 12 billion (RM36.6 billion) on railway projects and US$ 3.5 billion (RM10.68 billion) on roads and highways, during the period between 2011 and 2015.

Ali is positive that Malaysian companies, which have played a pioneering role in Malaysia’s infrastructure development, have a good chance of bagging attractive deals in Oman.

This was conveyed to International Trade and Industry Minister Datuk Seri Mustapa Mohamed during their meeting here last Saturday.

Among those who attended the meeting include Malaysian Ambassador to Oman Datuk Rustam Yahaya, Health Ministry secretary-general Datuk Kamarul Zaman Md Isa and Malaysia External Trade Development Corp (Matrade) chief executive officer Dr Wong Lai Sum.

Mustapa is in Oman in conjunction with the “1Malaysia Promotion” yesterday and today.

So far, no Malaysian company has ventured into Oman, thus Ali urged companies to tap the opportunities in Oman’s infrastructural development.

Oman plans to spend US$ 78 billion (RM237.9 billion) in its five-year development plan until 2015. The country is forecasting an economic growth of five per cent a year.

Driven by its own Vision 2020, the Omani government is all set to develop infrastructure projects with every economic sector benefiting from increased public spending. Foreign developers are already showing a growing interest in Oman’s infrastructure sector.

Among the sectors that Malaysian companies can participate in Oman include construction, retailing, information technology and the halal segment.

It is learnt that Oman intends to build and expand six airports including in Muscat and Salalah. Also in the pipeline are plans to expand its ports in Duqm and Sohar.

Mustapa had also met with Oman’s Minister of Transport and Communication Dr Ahmed Mohammed al Futaisi. He noted that the transport sector is another key area generating value-added growth for the construction industry.

The Omani government is set to invest up to US$ 10 billion in construction works this year, which represents a 23 per cent increase on the total outlay for 2011.

The moderately sized industry is gaining momentum with a large number of high-value projects underway and planned.

Business Times : nation

Comments are closed.