LONDON : His Excellency Nasser bin Khamis Al Jashmi, Chairman of the Tax Authority and Head of the Omani side of the Omani-UK Strategic Consultation Team, delivered the keynote address on “Paths to Financial Stability in the Sultanate of Oman.” He outlined the fiscal reforms that have strengthened Oman’s financial position, underlining that the Omani-British relationship remains a cornerstone of mutual prosperity and long-term stability. The UK currently accounts for 51.2% of Oman’s total foreign direct investment, underscoring its pivotal role in the Sultanate’s growth journey.

His Excellency Mahmoud bin Abdullah Al Awaini, Secretary General of the Ministry of Finance and Supervisor of the National Program for Financial Sustainability (Estidama), presented “Oman’s Economic Transformation Journey from Stability to Prosperity.” He highlighted Oman’s success in turning fiscal challenges into an international success story, noting that the country’s public debt-to-GDP ratio fell from 68% in 2020 to 34% in 2024, reducing debt servicing costs by over 12%.

The forum brought together senior financial leaders, including His Excellency Ahmed bin Jaafar Al Musalmi, Governor of the Central Bank of Oman, who discussed reforms within Oman’s financial sector and the growing role of debt instruments in funding sustainable growth. He emphasized Oman’s strategic position linking Asia, the Middle East, and Africa, offering investors seamless access to more than 2.5 billion consumers through advanced logistics infrastructure, ports, and free zones.

A second panel, “Confronting Global Economic Challenges,” featured Mohammed bin Mahfoudh Al Ardhi, Chairman of the Muscat Stock Exchange and Executive Chairman of Investcorp Holding, who analyzed global trends impacting financial stability. Mulham bin Bashir Al Jarf, Deputy Chairman of the Oman Investment Authority, discussed the expansion of Oman’s capital markets since the Authority assumed ownership of the Muscat Stock Exchange in 2021, resulting in record trading growth and stronger global investor engagement.

Adding to the forum’s vision, Nasser bin Khalifa Al Kindi, CEO of Invest in Oman, affirmed that the Sultanate sees the UK as a reliable partner for the next phase of its investment journey, with both nations working to translate opportunities into tangible economic results.

A series of discussions and networking sessions accompanied the forum, fostering dialogue among representatives of global banks, investment funds, and major investors.

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