Chinese businesspeople look forward to new phase of economic, investment partnership with Oman

Muscat: A number of Chinese businesspeople and investors expressed their optimism regarding the anticipated economic and investment outcomes of the state visit to be paid by His Majesty Sultan Haitham bin Tarik to the People’s Republic of China, and the high-level meetings it will witness with President Xi Jinping and senior Chinese officials.

They emphasised that the visit represents an important impetus for the trajectory of economic and trade relations between the two friendly countries and establishes a broader phase of investment partnerships, as well as industrial and technological cooperation.

In statements to Oman News Agency (ONA), they affirmed that the agreements and memorandums of understanding to be signed during the visit, along with the accompanying talks and understandings, will enhance business community confidence and open the way for qualitative investments in the energy, industry, logistics, technology, and healthcare sectors. This will support the targets of “Oman Vision 2040” and reinforce the Sultanate of Oman’s presence as an investment destination and a regional hub connecting markets.

Dr. Jessica Liu, Chairwoman of the Board of Directors of LY Capital, stated that the visit of His Majesty the Sultan to the People’s Republic of China represents a significant milestone in the course of Omani-Chinese relations, given its historical significance and strategic dimensions. She noted that economic and trade cooperation between the two countries has witnessed continuous growth since the establishment of the strategic partnership in 2018.

She added that China has become the largest trading partner of the Sultanate of Oman, with the volume of trade exchange between the two countries reaching USD 32.87 billion in 2025, reflecting the depth of shared economic interests and the expansion of cooperation areas between the two sides.

She explained that the importance of the visit is not limited to strengthening mutual political trust, but extends to pushing economic cooperation toward more diverse and sustainable horizons by transitioning from traditional trade patterns to long-term investment, industrial integration, and innovation and technology-driven development.

She pointed out that high-level visits contribute to boosting market confidence, consolidating long-term investment expectations, and facilitating cross-border cooperation, particularly in sectors that require substantial investments and extended time periods, such as energy, infrastructure, and advanced manufacturing industries.

She emphasized that the upcoming phase provides opportunities to deepen alignment between Oman Vision 2040 and China’s Belt and Road Initiative, and to transform political understandings into tangible industrial and investment projects, thereby enhancing mutual interests and opening new fields for companies and institutions in both countries.

She indicated that four main tracks could constitute priorities for cooperation during the upcoming phase. The first track involves strengthening the partnership in the energy sector by expanding cooperation in petrochemicals, renewable energy, green hydrogen, and clean energy technologies, as well as developing value chains associated with the oil and gas sectors.

The second track consists of enhancing cooperation in infrastructure, logistics, and advanced manufacturing industries, capitalizing on the capabilities offered by ports and special economic zones in Sohar, Duqm, and Salalah. This includes developing maritime transport, industrial complexes, processing and manufacturing centers, and supply chains, which reinforces the Sultanate of Oman’s position as a regional hub for Chinese investments and a gateway to Gulf, African, and Indian Ocean markets.

She added that the third track relates to the digital economy and technological innovation by expanding cooperation in digital infrastructure, artificial intelligence, smart cities, and financial technology, alongside investing in research, innovation, and human resource development.

As for the fourth track, it entails diversifying investments in non-oil sectors, including mineral resource processing, aquaculture, modern agriculture, food industries, healthcare, and sustainable tourism. These sectors align with the priorities of “Oman Vision 2040,” contributing to enhancing in-country value for local industries and generating job opportunities.

She stressed that the sustainability of economic cooperation requires building joint working mechanisms that go beyond agreements and memorandums of understanding to the actual execution of projects. This can be achieved through enhancing coordination in investment policies and financing, aligning standards and technical specifications, and training national cadres, ensuring mutual investment returns, knowledge and technology transfer, and raising the efficiency of productive sectors.

She explained that the level of integration between the economies of the two countries provides a broad base for developing deeper and more stable industrial and investment ties, noting that the capabilities possessed by both sides offer major opportunities for expanding the economic partnership during the upcoming phase.

For his part, Leo Xu, Partner and Head of the China Department at 1970, stated that the capabilities possessed by the People’s Republic of China in technology, industry, and innovation can integrate with the Sultanate of Oman’s strategic location, advanced infrastructure, and access to regional markets, forming an important foundation for enhancing economic and investment cooperation between the two countries.

He added that advanced Chinese expertise in the electric vehicle industry, batteries, clean energy storage systems, the aviation industry, and advanced manufacturing industries related to the construction and logistics sectors can contribute to supporting the economic diversification drive in the Sultanate of Oman and opening new horizons for technology transfer and localizing industries.

He pointed out that the Sultanate of Oman’s geographical location, along with its infrastructure and logistical capabilities, makes it a suitable destination for Chinese companies seeking external expansion and leveraging opportunities available to access Middle East, North Africa, and African continent markets.

He emphasized the importance of enhancing cooperation in education and engineering training, referring to the advanced academic expertise possessed by Chinese universities in engineering and technological specializations, and the possibility of utilizing them to prepare and qualify Omani talent, supporting the construction of an integrated national system in technology, industry, and innovation.

For her part, Joanna Jiang, Founder and CEO of Chinese firm “JoAnn Medical,” explained that His Majesty the Sultan’s visit to the People’s Republic of China represents an important opportunity to elevate historical relations between the two countries to a broader level of economic and investment partnerships, particularly in the healthcare and medical sciences sector.

She stated that high-level communication between the leaderships of the two countries contributes to strengthening investor confidence, defining shared priorities, and stimulating coordination among government institutions, business communities, and financial entities, helping companies transition from preliminary discussions to executing actual projects and investments.

She added that the upcoming phase requires focusing on sectors where Chinese industrial and technological capabilities integrate with the Sultanate of Oman’s developmental priorities and strategic location, chief among which are healthcare, biosciences, renewable energy, advanced manufacturing industries, logistics, and the digital economy.

She emphasized that expanding cooperation in these sectors would open new opportunities for companies in both countries, contribute to transferring expertise and technology, developing services, and building long-term partnerships that achieve sustainable economic and developmental value.