CAIRO, May 26 (MENA) - Omani Ambassador in Cairo Abdullah Al-Rahbi underscored the deep-rooted ties and strategic partnership linking his country with Egypt, highlighted by continuous coordination and fruitful cooperation in various fields.

Speaking at a ceremony to sign an industrial investment agreement between the Egyptian Arab Metals Company ZEINOX and Oman’s OQ Group under the “Ladayen” program at the Omani Embassy in Cairo, Rahbi noted that the partnership is supported by a shared political will to strengthen economic and investment cooperation.

He pointed out that the agreement, worth $2.6 million, aims to establish a new plastic manufacturing plant in Oman, leveraging its abundant raw materials and fostering industrial integration and knowledge exchange between the two countries.

Rahbi emphasized Oman’s and Egypt’s promising investment potentials and their strategic geographic positions, noting growing interest from public and private sectors in both countries to expand their collaboration, particularly in energy, petrochemicals, industry, and maritime transport.

He also highlighted Oman’s pursuit of economic diplomacy as a key pillar of “Oman Vision 2040,” aimed at diversifying income sources and positioning Oman as a prime investment hub.

Additionally, the ambassador pointed to a major real estate investment agreement signed with Egypt’s Talaat Moustafa Group to develop one of the largest real estate projects in Oman, describing it as a milestone in bilateral economic relations.

For his part, Board Member of ZEINOX Shady El-Zeiny said the new factory will generate job opportunities, drive innovation, and deliver high-quality products to local and international markets, benefiting from Oman’s investment incentives.

Meanwhile, Head of the Ladayen program at OQ Group Mundher Al-Rawahi said the agreement with ZEINOX marks the 18th deal under the program, bringing total investments to over $160 million. He praised the Omani government’s efforts to create an attractive investment environment, including incentives on raw material prices and industrial land costs, and reaffirmed the commitment to further strengthen strategic partnerships with Egypt. (MENA)


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