Singapore and Oman forge closer ties

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Muscat
Oman’s capital Muscat

Bilateral relations between Oman and Singapore are moving forward after the signing of two new agreements under the Oman-Singapore Enhanced Partnership, which aims to boost technical cooperation between the countries.

During an official visit to Oman from May 17 to 22, Singapore’s Minister of Foreign Affairs and Law, Kasiviswanathan Shanmugam, met Yousuf Alawi Abdullah, Oman’s Minister of Foreign Affairs, as well as Sayyid Badr Hamad Al Busaidi, Secretary General of the Ministry of Foreign Affairs in Oman to discuss the next steps of the long-term relation between the countries.

The visit saw the signing of two new agreements on stronger technical cooperation. The first memorandum of understanding was signed between Singapore’s  Temasek Polytechnic and the Omani Higher College of Technology.

Cooperation between the countries will include the exchange of undergraduate and graduate students, faculty visits as well as the exchange of programmes, studies, research and consultations.

As for the second agreement, Takamul Investment Company SAOC entered into a joint-venture with the utilities arm of Sembcorp Industries of Singapore that aims to establishes the Centralised Utilities Company, which will provide a range of utilities to the industrial area of the Special Economic Zone in Duqm, Oman.

Shanmugam has also attended the inauguration of the $1.4 billion Independent Water and Power Plant in the coastal town of Salalah, a joint venture between Sembcorp Utilities, the Oman Investment Corporation and Instrata Capital, with Sembcorp owning 60 per cent of the joint venture.

During the visit, Shanmugam affirmed that Singapore valued Oman as “a trusted partner in the region,” affirming that this project “would encourage Singapore’s business community to look for opportunities in Oman and to use the country as a springboard to the region and beyond”. He also highlighted that “Omani companies are invited to invest in Singapore and use it as a base for investment to take advantage of Asia’s booming business scene.”

The bilateral ties between the Sultanate and Singapore have been gradually increasing over the time thanks to active bilateral consultations and business councils. In this context, the Singapore-Oman Business Council was formed during the former president Sellapan Ramanathan’s visit to Oman in March 2009 in order to promote and facilitate businesses between the two countries.

Furthermore, in 2010 the Singapore Business Federation and the Oman Chamber of Commerce organised the first Singapore-Oman Business Forum to explore collaborative opportunities between the business communities from both sides.

So far, Oman-Singapore investments amount to $320 billion, Shanmugam said, and added that the next step would be tourism investment promotion. In addition, long-term efforts to establish a permanent diplomatic presence in Oman will see a consulate established in the sultanate in the next couple of months.

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Reading Time: 2 minutes

Oman’s capital Muscat

Bilateral relations between Oman and Singapore are moving forward after the signing of two new agreements under the Oman-Singapore Enhanced Partnership, which aims to boost technical cooperation between the countries.

Reading Time: 2 minutes

Muscat
Oman’s capital Muscat

Bilateral relations between Oman and Singapore are moving forward after the signing of two new agreements under the Oman-Singapore Enhanced Partnership, which aims to boost technical cooperation between the countries.

During an official visit to Oman from May 17 to 22, Singapore’s Minister of Foreign Affairs and Law, Kasiviswanathan Shanmugam, met Yousuf Alawi Abdullah, Oman’s Minister of Foreign Affairs, as well as Sayyid Badr Hamad Al Busaidi, Secretary General of the Ministry of Foreign Affairs in Oman to discuss the next steps of the long-term relation between the countries.

The visit saw the signing of two new agreements on stronger technical cooperation. The first memorandum of understanding was signed between Singapore’s  Temasek Polytechnic and the Omani Higher College of Technology.

Cooperation between the countries will include the exchange of undergraduate and graduate students, faculty visits as well as the exchange of programmes, studies, research and consultations.

As for the second agreement, Takamul Investment Company SAOC entered into a joint-venture with the utilities arm of Sembcorp Industries of Singapore that aims to establishes the Centralised Utilities Company, which will provide a range of utilities to the industrial area of the Special Economic Zone in Duqm, Oman.

Shanmugam has also attended the inauguration of the $1.4 billion Independent Water and Power Plant in the coastal town of Salalah, a joint venture between Sembcorp Utilities, the Oman Investment Corporation and Instrata Capital, with Sembcorp owning 60 per cent of the joint venture.

During the visit, Shanmugam affirmed that Singapore valued Oman as “a trusted partner in the region,” affirming that this project “would encourage Singapore’s business community to look for opportunities in Oman and to use the country as a springboard to the region and beyond”. He also highlighted that “Omani companies are invited to invest in Singapore and use it as a base for investment to take advantage of Asia’s booming business scene.”

The bilateral ties between the Sultanate and Singapore have been gradually increasing over the time thanks to active bilateral consultations and business councils. In this context, the Singapore-Oman Business Council was formed during the former president Sellapan Ramanathan’s visit to Oman in March 2009 in order to promote and facilitate businesses between the two countries.

Furthermore, in 2010 the Singapore Business Federation and the Oman Chamber of Commerce organised the first Singapore-Oman Business Forum to explore collaborative opportunities between the business communities from both sides.

So far, Oman-Singapore investments amount to $320 billion, Shanmugam said, and added that the next step would be tourism investment promotion. In addition, long-term efforts to establish a permanent diplomatic presence in Oman will see a consulate established in the sultanate in the next couple of months.

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