Press Release       Date: 11/4/2008

Oman Economic Forum
Commences on the Morning of Sunday April 13

The Forum Attracts 600 Arab and Foreign Participants

4 Leaders from Oman and the Gulf will be honored

Under the Patronage of H.E. Ahmed bin Abdulnabi Macki, Minister of National Economy and Deputy Chairman of Financial Affairs and Energy Resources, the “Oman Economic Forum” commences on Sunday April 13th amidst wide local and foreign participation that reflects Arab and international interest in the Omani economy and the developing investment environment in the Sultanate.

The Forum brings together around 600 participants form 17 Arab countries, including the Gulf countries, representing major banking and financial institutions and companies active in the industrial, oil and gas, tourism, real estate and other sectors in the Arab world. The Forum is organized by Al-Iktissad Wal-Aamal Group in association with the Ministry of Trade and Industry and in collaboration with the Oman Chamber of Commerce and Industry and the Omani Center for Investment Promotion and Export Development. This joint effort reflects the degree of importance given the forum at the public and private levels in Oman.

Honoring Leaders:

The Oman Economic Forum will be an occasion for Al-Iktissad Wal-Aamal Group to honor business leaders and economic personalities from Oman and the Gulf in recognition of their achievements and successes in their respective countries. Honorees at the Forum will include:

• Sheikh Saud Al Khalili, a former minister and ambassador in Oman, who is the founder of Al Taher Group which includes 19 companies active in different sectors.
• Sheikh Suhail Bin Salim Bahwan, Chairman of the Bahwan Group that includes 35 companies active in industry, energy, commerce and contracting.
• Mr. Mohammed Al Barwani, Chairman of MB Holding Co. LLC, which is active in oil and gas projects in 17 countries around the world.

Main topics on the Forum agenda:

The forum will discuss a number of major topics and issues in 7 working sessions during two days. These include:

• The legislative, economic and financial aspects of the business and investment environment in Oman from the legislative and financial aspects in addition to incentives and exemptions available for investors.
• The future role of the banking sector in light of its recent performance and its opening up foreign participation in addition to the trend among Omani banks to expand regionally.
• Investment opportunities in the infrastructure on the basis of roads, ports, power, water, transportation, and communications projects launched by the government.
• The vision and policies to develop basic and manufacturing industry, especially industries in which Oman has a geographic comparative advantage.
• Investment opportunities in real estate and the tourism sector given the importance of these two sectors in government development priorities, especially building up a tourism infrastructure that preserves Oman's heritage and uniqueness.
• The Omani Capital Markets and its role in funding the Omani economy and creating new non-traditional project finance tools.
• Developments in the oil and gas sector, with emphasis on government plans to increase oil production capacity, and actual and future exploration and development projects.

The Forum is sponsored by Many Omani and regional companies like The Wave Muscat, Consolidated Contractors Company, Alrgan International Real Estate Co, Gulf Investment Corporation, Oman Arab Bank, Towell Group, Ernst & young, Bank of Beirut, Oman Air and Al Watan News paper. Many regional and international institutions are participating in the activities of the Forum, including British Petroleum, British Gas, Octal Holding, HSBC Bank, Sama Dubai and other Arab and Omani Companies.