St. Petersburg,
Russia –
The Sultanate of Oman, represented by the Ministry of Commerce, Industry and
Investment Promotion, concluded its participation in the 28th St. Petersburg
International Economic Forum (SPIEF), reaffirming its commitment to global
economic dialogue and cross-border investment engagement. Oman spotlighted its
integrated business ecosystem and priority sectors under Oman Vision 2040,
which aims to foster a resilient and diversified economy.
SPIEF 2025 attracted
approximately 20,000 participants from 140 countries, maintaining robust
international engagement. The Forum featured more than 150 events, ranging from
thematic panels and plenary sessions to business breakfasts and bilateral
dialogues. High-profile attendees included Russian President Vladimir Putin,
Indonesian President Prabowo Subianto, Chinese Vice Premier Ding Xuexiang,
Bahraini royal Sheikh Nasser bin Hamad Al Khalifa, and South African Deputy
President Paul Mashatile — alongside senior officials from nearly 50 countries,
including Vietnam, Saudi Arabia, Iraq, and the Central African Republic. Their
presence underscored SPIEF’s role as a pivotal platform for fostering
multipolar economic cooperation.
The Omani delegation
was led by Her Excellency Ibtisam bint Ahmed Al Farooji, Undersecretary of the
Ministry of Commerce, Industry and Investment Promotion for Investment Promotion,
who spearheaded a series of high-level meetings and sector-focused engagements.
The delegation’s program included participation in key forum sessions,
bilateral meetings with institutional investors, and exploratory visits to
major corporate pavilions.
This year, Oman’s
focus centered on promoting investment in four high-potential sectors: luxury
tourism, logistics, food security, and mining — each aligned with national
efforts to position Oman as a competitive and future-ready investment destination.
As part of its
engagement, Oman organized a dedicated roundtable with leading Russian
companies active in these sectors. The session provided a platform to present
the Sultanate’s competitive advantages, regulatory reforms, and infrastructure
readiness, while facilitating direct dialogue with potential investors and
strategic partners.
“Oman
is focused on high-value investment, enabling enterprise through streamlined
digital platforms, and scaling public-private partnerships—an area where we
bring over two decades of institutional experience. Our business climate
continues to strengthen, supported by policy clarity, legal reform, and
competitive market access.”
She
highlighted Oman’s upgraded credit rating by Standard & Poor’s in 2024 as a
signal of fiscal stability and investor confidence, adding that the Sultanate
is actively translating these gains into tangible investment momentum across
key sectors—from green hydrogen and advanced manufacturing to integrated
tourism and logistics.
Trade and economic
cooperation between Oman and Russia continues to deepen. As of February 2024,
the bilateral trade volume reached RO 30.9 million. Notably, Omani exports to
Russia surged from RO 582,602 in 2022 to RO 3.35 million in 2023 — a remarkable
475% increase. Imports from Russia totaled RO 188.4 million, highlighting the
scale and diversification of commercial ties between the two countries.
Oman’s participation
in SPIEF 2025 aligns with its broader strategy to enhance investor outreach in
key international markets, particularly in Eastern Europe and Central Asia. By
leveraging global platforms such as SPIEF, Oman is actively cultivating a
network of institutional investors and strategic partners to catalyze
sustainable development and high-impact investment.
As part of the
official business program, Oman participated in the SPIEF session titled “Greater
Eurasia: Drivers for the Formation of an Integrated Investment Market.” Her
Excellency joined global investment leaders to explore policy tools that can
accelerate cross-border capital flows. Discussions addressed market
integration, institutional readiness, and innovative investment instruments —
themes that closely align with Oman’s ongoing investment reform agenda.