THENorth West Euro-Mediterranean Institute sees in Oman a small market, but with great potential, so as to be indicated by Confindustria as one of the "Next Generation Markets 2013". It's about an economy based on the export of oil that aims at diversification and internationalisation, whose market involves a GDP that reached 2012 billion dollars in 90,66, thanks to a growth rate of 5%. The productive fabric features 121 small and medium-sized enterprises (90% of the entire productive activity of the country) and the need to develop new infrastructures.
Yesterday the meeting organized in Confindustria by Assafrica & Mediterraneo was held in Rome, in collaboration with the Oman embassy in Italy, the Italian diplomatic representation in Muscat and ICE, with the aim of strengthening the exchanges between the two countries and thus create the right climate to develop Italian investments. Italian companies are still not very present in Oman, despite the open appreciation of the local authorities. The focus then concentrated on creation of new infrastructure: according to the five-year development plan 2011-2015, in fact, 60 billion euros are available in view of the creation of a logistics hub that allows for the modernization of the country through the integration of airports, ports, roads and railways. Oman represents a real strategic hub which overlooks a 6 billion dollar market, straddling India, the Far East, the Gulf countries and the EU. The local government intends to strengthen several areas of the country in the coming years, in particular the free-zone of Sohar, Duqum, and the port of Salalah. The diversification and enhancement of the presence of the private sector in the economy of the Sultanate also means development of other strategic sectors for Made in Italy such as mechanics, chemistry, food, fish, furniture and design.
To strengthen the Italian presence, however, a stronger partnership between companies and institutions is needed, wherever there is still no ICE officedespite the similar production structure, fifty Italian companies operating locally, without forgetting that there are about a hundred Italian exporters in the market in question. And, last but not least, it should be considered that Oman is one of the most business friendly countries in the world, where ownership of the investor's capital can remain in the hands of the foreign investor up to 100%.
