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FINANCIAL NEWS
Oman invests USD1 billion in ports to meet expected growth
06 Jul 2011
(MENAFN) Ebrahim Taher, Project Manager at Oman International Trade and Exhibitions, said that Oman has invested up to USD1 billion in its ports and expects the ports to earn the country millions of dollars, Gulf News reported.
Taher, who is also the organizer of Oman’s First Ports and Shipping Conference, planned for October 26th, said the Omani government is trying to promote the ports as crucial to regional trade. Oman hopes the ports will attract investments and improve the country’s economy, he said.
Saeed Bin Hamdoon Al Harthy, Undersecretary for Ports and Maritime Affairs at the Ministry of Transport and Communications, said that Oman’s ports are equipped for all types of shipping and are setting the industry standards for the region.
Oman’s strategic location, politically stability, and business friendly climate were helping create investor interest in the ports, Al Harthy said.
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