Oman keen for investments in India

Ahead of the visit of Prime Minister Manmohan Singh to Oman, the hydrocarbon-rich gulf country has invited Indian investments, particularly in the newly-established 'Free Zones' which offer a number of privileges.     

India and Oman are expected to soon launch a $100 mn joint investment company on equal partnership basis to facilitate cooperative projects in various sectors through investments.     

"The potential is very high for expanding business cooperation," Omanese Ambassador Humaid Al-Maani told  here ahead of the long-overdue visit of Singh to his country on Saturday.     

Ways to enhance trade and business will be high on the agenda of talks that the Prime Minister will have with Oman ruler King Sultan Qaboos bin Said during the two-day visit.     

The two countries have set the two-way non-oil and non-gas trade target of $2 billion by the end of this year, which the Ambassador said could be raised in view of the existing potential.     

He talked about investment opportunities for Indian companies in Oman and in this regard specifically referred to the newly-established two 'Free Zones' (which are like the Special Economic Zones) providing ample opportunities and conducive atmosphere for private and foreign companies to set up business.