KUALA LUMPUR, Nov 18 (Bernama) -- Since the start of the diplomatic relations in 1982, Oman and Malaysia have enjoyed and maintained warm and cordial ties, said Oman’s ambassador to Malaysia Sheikh Al-Abbas Ibrahim Hamed Al Harthi.
Al-Abbas said there were currently two planned agreements, on the avoidance of double taxation with respect to taxes on income and the reciprocal promotion and protection of investments.
The ambassador further said that additionally, numerous Memorandums of Understanding (MoUs) in the areas of health, Small and medium-sized enterprises (SMEs) and higher education need to be inked.
He said Oman also welcomed and encouraged Malaysian investors and entrepreneurs to explore the investment potential and opportunities in the Gulf country.
“Also my sincere appreciation and gratitude to the government of Malaysia for its ongoing assistance and help in strengthening the development of Oman-Malaysia joint cooperation in various fields” he said in his statement to Bernama in conjunction with the 52nd National Day of the Sultanate of Oman today.
Al-Abbas said Oman is confident that the country's political stability, liberal foreign ownership in companies, free trade and open market policies, modern infrastructure, state-of-the-art multimedia and telecommunication, will undoubtedly open doors to build friendship bridges that open prospects for new collaboration and good relations with nations.
“Under the wise leadership and guidance of the Sultan of Oman His Majesty Sultan Haitham bin Tarik, a visionary like his late predecessor Sultan Qaboos bin Said, we, Omanis celebrate the Sultanate's 52nd National Day with great pride and honour. The successful implementation of development objectives for both present and future generations is being facilitated by His Majesty Sultan Haitham's optimistic and methodical attitude in leading Oman's Vision 2040 plan,” he said.
Al-Abbas explained that 12 national significance categories classified by Vision 2040 covers the full spectrum of Omani life adding that the formulation of a sound and organised strategy that facilitates job creation, encourages investment and accelerates corporate growth were among the top priorities.
“The Vision 2040 can also be seen as the government's blueprint for environmental, social, and governance (ESG) to accelerate the relative contribution of non-oil sectors to the Gross Domestic Product (GDP) while reducing Oman's dependence on the traditional oil and gas sectors and to further promote and enhance the other sectors of the economy, including SMEs, green energies, logistics services, tourism and agriculture.
By promoting aspects of nature, culture, and heritage, the Omani government also hopes to attract at least 11.7 million domestic and foreign tourists and increase the non-oil share of the overall GDP to 90 per cent by 2040, Al-Abbas said.