| OCCI looks to boost domestic investment |
MUSCAT The Oman Chamber of Commerce and Industry (OCCI) Board on Tuesday approved the its investment strategy for the coming period.
At a meeting, held under the chairmanship of HE Khalil Bin Abdullah Al Khonji, OCCI Chairman, the Board discussed its investment strategy in the Muscat Securities Market (MSM) and its trading regulatory mechanism. The meeting also addressed the importance of investing in some vital economic sectors in the market considering their positive impact on performance and stability.
Khonji stressed the keenness of the Board to contribute to the development of promising economic sectors by offering strategic investment opportunities, encouraging the private sector to take initiatives to invest in projects and to boost employment of the national cadres.
He said that OCCI is a public interest institution and is keen on its investment strategy to achieve several strategic objectives to help activate the Sultanate’s economic performance through medium and long-term investment.
The Board approved the reduction in the share of foreign investment from 25 per cent to 10 per cent and allocating 62 per cent for investment in MSM tools while 18 per cent of investment package was allocated for real estate.
The Board approved the diversification of investment to all fields in the market based on accurate investment analysis to ensure return, as well as taking into account the geographical distribution of investment within the governorates of the Sultanate as part of corporate social responsibility of OCCI for the development of economic sectors in governorates.
OCCI chairman said that the organisation has investments in several companies and establishments like Majan College, Al Dhahirah Company Tarmac, Al Buraimi Development and Investment, Al Sharqiyah University, Al Buraimi University, Youth Project Fund, Oman Reinsurance Company, Oman International for Investment as well as investment in Muscat University project, which OCCI adopts its establishment.
He urged businessmen and women to exploit investment opportunities in various fields especially the opportunities offered by the securities market and other economic sectors.
Oman News Agency
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