Chinese Firms Show Strong Interest in Oman's International Financial Centre Ahead of Muscat Opening
According to Al Hussain al-Qalhati, the associate director for business development at the International Financial Centre Oman, daily inquiries are being made by Chinese banks, asset managers, and law firms regarding the establishment of operations in the centre. He noted that the interest from Chinese companies is "very strong," as they seek to tap into the profitable Middle East market while reducing risks. This centre, which is a standalone legal zone in Oman, is located across the Strait of Hormuz from Iran. Oman's neutral stance during the US-Israel conflict with Iran is seen as a benefit for attracting Chinese investments, along with the strategic positioning of Omani ports. The centre is set to launch in Muscat, the capital of Oman, by early next year.
Key facts
- Chinese firms have shown "very strong interest" in investing in Oman, according to an Omani official.
- Banks, asset managers and law firms from China were contacting the International Financial Centre Oman every day about setting up there.
- Al Hussain al-Qalhati is the centre's associate director for business development.
- The International Financial Centre Oman is a free-standing legal zone in the country.
- The centre will open in Muscat, the Omani capital, by early next year.
- Oman is located across the Strait of Hormuz from Iran.
- Oman's neutrality amid the US-Israel war on Iran was cited as an advantage.
- The location of Omani ports away from the Strait of Hormuz was also cited as an advantage.
Entities
Institutions
- International Financial Centre Oman
- South China Morning Post
Locations
- Oman
- Muscat
- Iran
- Strait of Hormuz
- China
- United States
- Israel