A memorandum of strategic cooperation was signed between the British Growth Company and the Office of the Governor of Sohar, Oman, aimed at enhancing economic and investment ties between the two entities. The agreement was finalized following the Sultan of Oman’s recent visit to the United Kingdom and focuses on leveraging international expertise to support business development and competitiveness in the Sohar governorate.
The partnership will prioritize the establishment of an integrated business environment that supports small and medium-sized enterprises (SMEs), entrepreneurs, and sustainable business initiatives within the region. Key objectives include strengthening local capacity building, improving access to financing and markets, and facilitating technology transfer to drive economic growth.
Governor Mohammed bin Suleiman Al-Kindi emphasized that the new cooperation framework will contribute to decentralization efforts, promote regional economic development, and advance Sohar’s goal of becoming a competitive and integrated investment hub. The initiative aligns closely with Oman’s Vision 2040, which seeks to diversify the economy while fostering sustainable development.
The agreement also includes the introduction of advanced business models, enhanced transparency measures, and improvements in digital infrastructure. These measures are intended to support a more sustainable and diversified economic future for Sohar, reinforcing its position as a key player in the national and regional economic landscape.