Muscat: Oman expects millions of dollars to flood into the country as its ports straddle important trade routes between east and west.

According to a recent report, up to $1 billion has been committed to the development of Oman's new maritime ports and the expansion of existing gateways.

Saeed Bin Hamdoon Al Harthy, Undersecretary for Ports and Maritime Affairs at the Ministry of Transport and Communications, has affirmed that Omani ports are not only attracting investments into the country but are also setting the industry standards and norms for investments in the whole region.

Feeder services

"All the ports are doing their best to attract business as they can handle any types of shipping business and serve the region through our feeder services. Oman is basically playing a major role in attracting international investments into the region as we are setting the right standards to attract any kind of business with investor-friendly rules and regulations combined with political stability," Al Harthy said in a recent interview in the media

"Thanks to its strategic location, Oman today has some of the busiest ports in the whole region and it has invested up to a billion dollars in port operations. Many efforts are being undertaken by the Omani government to boost this sector and to emphasise the fundamental role played by the ports and shipping sector to further advance regional trade," said Ebrahim Taher, Project Manager at Oman International Trade and Exhibitions, organiser of the event.

Taher stressed that ports play a major role in advancing the economy of any country. "The fact that the Omani government has been actively supporting ports and shipping industry, will undoubtedly attract more long term investments in the sector in future," he added.

Conference

His comments come months before Oman's First Ports and Shipping Conference, due to be held on October 26. The conference is expected to provide an update on the developments of Oman's maritime, ports and logistics sectors.

The conference will present some of the many commercial opportunities available to regional and international based businesses and investors. The event will focus on the industrial engines driving Oman's growth and connect the link to boost the maritime, ports and logistics sector.