DAMMAM, 14 June 2007 — The Federation of the GCC Chambers of Commerce plans to organize an investment conference in the Sultanate of Oman to discuss ways to kick-start Omani economy battered by super cyclone Gonu.
Abdul Rahman Naqi, secretary general of the federation, said the participation of the Arab and Gulf’s private sector is necessary in order to chalk out the plans and forge investment agreements on reconstruction.
“Though the resilient Omani economy has the potential to tide over the crisis, the meeting has been called to pool the potential and resources of Gulf countries at a time when a member country needs it most,” he said.
Naqi said the federation is exerting efforts, in coordination with all the chambers of commerce and industry in the Gulf region, to realize the conference, the time of which has yet to be announced. He said the move is part of achieving one of the major goals of the federation, that is, to bring the member countries socially and economically closer.
The meeting will encourage Arab and Gulf companies to undertake infrastructure reconstruction such as roads and buildings. He also expressed confidence in the Gulf based-oil companies in repairing the damage suffered by the Omani oil installations.
“Besides being an occasion to reaffirm the solidarity of the Gulf societies, the meeting will offer the Gulf investors ample opportunity for exploring investment potentials in Oman in coordination with the official agencies there,” Naqi said. He assured that investments in the economically strong Oman would be profitable.
