Oman and Tanzania Strengthen Economic Ties in Commerce and Investment

Oman, 01 October, 2024 : Oman’s Minister of Commerce, Industry and Investment Promotion, Qais Mohammed Al Yousef, met with Tanzanian ministers and officials from the Government of Zanzibar at the "Invest Oman Lounge" to discuss enhancing economic cooperation.

The meeting focused on boosting collaboration in commercial, industrial, and investment sectors, noting a 23% increase in Tanzanian companies registered in Oman and a 13.5% growth in investment over the past two years. 

Discussions highlighted Oman Vision 2040 and targeted key sectors for investment, including mining, tourism, food security, logistics, and information technology. 

Officials also noted positive economic indicators, such as a reduction in Oman’s public debt-to-GDP ratio from 70% to 35% and an improved credit rating of "Ba1" by Moody’s. 

The meeting included notable attendees from both sides, including undersecretaries and ministers focusing on labor, economic affairs, and investment.

Source :www.omannews.gov.om