The Sohar Investment Forum 2026 has commenced with the signing of five new investment agreements valued at over OMR 12 million (approximately $31.2 million). The event, attended by representatives from the public and private sectors across more than 30 countries, aims to bolster Oman’s industrial and economic diversification efforts.
Strategic Agreements Across Key Sectors
The investments span several critical industries, highlighting a strategic push towards enhancing local manufacturing and sustainability. The deals were signed with key entities including Madayn – Sohar Industrial City.
A memorandum of understanding was signed between the Oman Chamber of Commerce and Industry’s North Batinah branch and Jindal Steel Oman. The OMR 4 million agreement is set to enhance investment in downstream manufacturing within the iron and steel sector.
Another significant agreement, valued at over OMR 1 million, was established between OQ Group and Aurum Polymer Solutions to develop a state-of-the-art plastics production facility.
Sohar Industrial City also finalized three major deals. The first is an OMR 4 million agreement with Al Baraka Food Company to build a new food processing factory. The second involves an OMR 3 million investment with Al Rahma for Mineral Industries to construct a mineral processing plant. The final agreement, an OMR 500,000 investment with Clear Earth Recycling, will establish a facility for recycling industrial waste.
Government Backing for Economic Diversification
During the forum’s opening session, Ibtisam Al Farsi, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion, emphasized the government’s commitment to fostering a more competitive investment landscape.
“The government is actively working to create a more competitive investment environment,” Al Farsi stated, stressing the vital role of industrial and economic zones in achieving economic diversification and attracting high-value investments to the Sultanate.
A Call for Regional Collaboration
Saleh Al Sharqi, Secretary-General of the Federation of GCC Chambers, highlighted the need for greater cross-border cooperation to unlock the region’s full potential.
He called for “more institutional cooperation among the region’s countries to strengthen investment partnerships and develop an open and competitive business environment.”
About The Sohar Investment Forum
The Sohar Investment Forum is a key initiative aimed at showcasing the investment opportunities within the North Batinah Governorate of Oman. It serves as a platform to connect local authorities, industrial players, and international investors to facilitate strategic partnerships and drive economic growth in line with Oman’s Vision 2040 for economic diversification.
Source: Jawlah
