Gulf Insight 360

Tag: Oman

Carrefour Exits Oman Market, Rebrands Stores as Hypermax
French retail giant Carrefour has officially ceased operations in Oman, marking a major shift in the country’s retail landscape. The closure, effective January 7th, 2025, follows a similar move in Jordan last November.
The End of an Era:
Carrefour, operated in the Middle East by UAE-based Majid Al Futtaim (MAF), had been a prominent name in Oman’s retail sector for years. However, the company announced its departure via a social media post on Tuesday, thanking Omani customers for their unwavering support.
Shifting Strategies:
The reasons behind Carrefour’s exit from Oman haven’t been publicly disclosed. However, the move comes just two months after Carrefour closed its doors in Jordan, with its stores there rebranded as Hypermarx, another MAF-owned retail chain. This suggests a potential shift in strategy for MAF in the region.
Hypermax Takes Over:
Reports indicate that some Carrefour stores in Oman are already being rebranded under the Hypermax name. This suggests a potential focus on consolidating operations under a single brand. Details on the full scope of the rebranding and potential changes in product offerings remain unclear.
Community Reaction:
The closure of Carrefour has sparked mixed reactions in Oman. While some customers expressed disappointment at the loss of a familiar brand, others remain hopeful that Hypermax will provide a similar shopping experience.
Impact on Local Economy:
The full economic impact of Carrefour’s exit is yet to be seen. The company’s closure could potentially lead to job losses, but the rebranding to Hypermax might offer some job continuity for former Carrefour employees.
Looking Ahead:
Carrefour’s departure from Oman marks the end of an era for the multinational retailer in the country. The rise of Hypermax raises questions about MAF’s future strategy and its commitment to the Omani market. Only time will tell how local consumers and businesses will adapt to this changing retail landscape.
New UAE Driving License and Vehicle Registration Regulations: A Summary
January 9, 2025
Latest Updates on Unified GCC Visa: One Visa for 6 GCC Countries, System will be in place by end of 2024, UAE official says
Gulf countries are launching a single tourist Unified GCC Visa by year-end! This “Unified GCC Entry Permit” will allow visa-free travel across all 6 GCC nations (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) for over 30 days. Application details and costs are still under wraps, but expect a streamlined online process and competitive pricing. This visa paves the way for easier “business-leisure” travel, combining business trips with vacations in the beautiful Arabian Gulf.
The GCC Grand Tour Visa:
This Unified GCC Visa is like a magic key that unlocks the doors to all six GCC countries. No more applying for separate visas for each place! With the Grand Tour visa, you can explore the region’s breathtaking deserts, bustling cities, and rich history with ease.
Applying for the Unified GCC Visa (Coming Soon):
The exact details are still being ironed out, but applying is expected to be a breeze. You’ll likely be able to do it online through a single website, saving you time and trouble.
Fees and How Long it Lasts (Coming Soon):
The exact cost of the visa hasn’t been announced yet, but it’s expected to be affordable. Even better, reports say it’ll be valid for over 30 days, giving you plenty of time to explore everything the GCC has to offer.
When Can I Use It?
Mark your calendars! The Grand Tour visa is expected to be available by the end of 2024. Keep an eye on official government websites of the GCC countries for the official launch date and application details.
What This Means for You:
This visa is a game-changer for travelers. It makes exploring the entire region much simpler, lets you stay longer, and is sure to boost tourism across the Gulf. Imagine one trip that takes you from the towering sand dunes of the Empty Quarter to the vibrant souks of Dubai, the majestic forts of Oman, and the futuristic skyline of Doha – all with just one visa!
Stay Excited!
The countdown is on for the Grand Tour visa! Keep your eyes peeled for official announcements about how to apply, the cost, and the exact launch date. This innovative visa promises to make exploring the wonders of the Arabian Gulf easier and more exciting than ever before!
FAQ About GCC Tourist Visa:
Availability and Launch:
1. When will the Unified GCC Visa be available?
  (Expected launch by the end of 2024)
Application Process:
1. How do I apply for the visa?
  (Details unknown, likely online application)
2. Do I need a separate application for each country?
  (No, one application for all six)
Cost and Validity:
1. How much will the visa cost?
  (Specific pricing not yet announced)
2. How long will the visa be valid?
  (Reports suggest over 30 days)
Benefits:
1. What are the advantages of the visa?
  (Simplifies travel, eliminates multiple applications, encourages longer stays)
2. Is this good for “bleisure” travel?
  (Yes, extended validity allows combining business and leisure)
Comparison:
1. How is this different from individual visas?
  (Replaces separate visas for each GCC country)
Current Status:
1. Is the program finalized?
  (Approved, but details like application process are being finalized)
2. Where can I find updates?
  (Official government websites of GCC countries)
Here are the official government websites of the GCC countries you can visit for updates on the Unified GCC Tourist Visa:
- Bahrain: https://www.mofa.gov.bh/
- Kuwait: https://www.moi.gov.kw/main?culture=en
- Oman: https://www.fm.gov.om/
- Qatar: https://mofa.gov.qa/en
- Saudi Arabia: https://www.mofa.gov.sa/en/Pages/default.aspx
- United Arab Emirates: https://www.mofa.gov.ae/
By checking these websites regularly, you can stay updated on the official launch date, application process details, and any relevant information about the Unified GCC Tourist Visa.
GCC Unified Visa – Application Process, Fees, and Validity Revealed!
May 11, 2024
GCC Unified Visa – Application Process, Fees, and Validity Revealed!
Get ready to explore six Gulf nations with just one visa! The Gulf Cooperation Council (GCC) has announced a groundbreaking unified tourist visa, allowing seamless travel across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. This monumental step, set for implementation in 2024-2025, promises to revolutionize tourism and unlock a wealth of cultural experiences for visitors.
Table of Contents
GCC Unified Visa: Streamlined Application
Competitive Fees:
Validity and Flexibility:
A Gateway to the Gulf:
Unlocking a Brighter Future:
Stay Tuned for Updates:
GCC Unified Visa: Streamlined Application
Gone are the days of navigating individual visa applications for each GCC country. The unified visa application process is designed to be simple, efficient, and user-friendly. Here’s what you can expect:
- Online Application: Apply conveniently through a dedicated online platform accessible from any device. No more lengthy paper forms or embassy visits!
- Minimal Documentation: Prepare essential documents like passport, travel insurance, and proof of accommodation. No need for complex financial statements or employment verification.
- Multiple Entry Options: Choose from single-entry visas for short stays to multiple-entry visas for extended exploration, catering to diverse travel needs.
Competitive Fees:
The GCC aims to make the unified visa accessible to travelers from around the world. While official fees haven’t been finalized, they are expected to be competitive and comparable to existing individual visa costs. This affordability factor will further boost the region’s tourism appeal.
Validity and Flexibility:
The unified tourist visa will offer flexible validity periods to suit various travel styles:
- Short Stays: Explore one or two GCC countries for 30 days with a single-entry visa.
- Extended Adventures: Dive deeper into the region’s treasures with a multiple-entry visa valid for 60 days across all six nations.
- Tailored Options: Additional visa options with longer validity periods might be introduced in the future, catering to specific travel plans.
A Gateway to the Gulf:
The GCC unified visa represents a landmark development in regional tourism and cooperation. By breaking down travel barriers and fostering closer ties, this initiative paves the way for a more vibrant, interconnected, and economically prosperous Gulf region. As travelers from around the globe prepare to experience the diverse wonders of the GCC, one visa unlocks a world of possibilities, promising an unforgettable journey across a land of breathtaking landscapes, rich cultures, and boundless hospitality.
Unlocking a Brighter Future:
The GCC unified visa marks a significant step towards regional integration, economic growth, and enhanced cultural exchange. As travelers explore the unique offerings of each nation, they become ambassadors for the region’s rich heritage and foster closer ties between communities.
Stay Tuned for Updates:
While the official launch date and specific fees haven’t been announced yet, the GCC is actively working on finalizing the implementation details. Keep your eyes peeled for further updates and get ready to experience the magic of the Arabian Peninsula with just one visa!
This news article provides a comprehensive overview of the GCC unified visa application process, fees, and validity period based on current information. Remember to update the article with official details and specific costs once they are released.
FAQ:
1. What is the GCC Unified Visa?
  It’s a single visa that allows travel across all six Gulf Cooperation Council (GCC) countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
2. When will it be available?
  The official launch is expected in 2024-2025, but specific dates haven’t been announced yet.
3. Why is it being implemented?
  To boost tourism, simplify travel, and strengthen regional cooperation among the GCC countries.
4. Will I still need individual visas for each country?
  No, the unified visa replaces individual visas for all six countries.
1. How do I apply for the GCC Unified Visa?
  A dedicated online platform will be available for applications. No paper forms or embassy visits are required.
2. What documents do I need?
  Expect to provide your passport, travel insurance, and proof of accommodation, but specific requirements haven’t been finalized.
3. How much will the visa cost?
  Official fees are still under discussion, but they’re expected to be competitive and comparable to existing individual visa costs.
4. Will there be different visa types?
  Yes, options like single-entry for short stays and multiple-entry for longer journeys are likely to be available.
1. How long will the visa be valid for?
  Expect options like 30-day single-entry visas and 60-day multiple-entry visas, with longer validity periods potentially introduced later.
2. Can I visit all six countries with one visa?
  Yes, you can seamlessly travel between all six GCC countries during the visa’s validity period.
3. Do I need any additional permits or registrations?
  Check individual country travel regulations for specific requirements, like entry permits for certain areas.
1. What can I do with the GCC Unified Visa?
  Explore the diverse attractions of each country, from cultural experiences and historical sites to natural wonders and modern marvels.
2. What are some must-see destinations in the GCC?
  The vibrant souks of Dubai, the majestic dunes of Saudi Arabia, the pristine beaches of Oman, and the cultural renaissance of Qatar are just a few examples.
3. What adventure activities can I enjoy?
  Desert safaris, exhilarating water sports, world-class theme parks, and countless other exciting experiences await across the region.
1. How will the visa benefit tourism in the GCC?
  Increased tourist arrivals, more job opportunities, and higher revenue generation are expected across the region.
2. Will the visa improve regional cooperation?
  By facilitating travel and interaction, the unified visa can foster stronger ties and collaboration between the GCC countries.
3. Does this visa apply to all nationalities?
  Visa eligibility details are still being finalized, but it’s expected to be open to various nationalities.
1. Where can I find official updates on the visa?
  Official GCC channels and tourism websites will provide the latest information when available.
2. Are there any concerns or challenges regarding the visa?
  Logistical considerations and coordinating procedures across six countries are some potential challenges to be addressed.
3. How can I stay informed about the GCC Unified Visa?
  Follow relevant news channels, tourism websites, and social media updates for the latest developments.
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December 15, 2023
Spinneys Dubai may go for an IPO in 2024
Spinneys Dubai, the franchisee of the Spinneys supermarket chain in the United Arab Emirates and Oman, is considering an initial public offering (IPO) in 2024, according to three sources with direct knowledge of the matter.
The IPO is expected to raise up to $300 million and will value the company at around $1 billion. Albwardy Investment, the franchise’s 100% owner, has hired Rothschild & Co. to advise on the planned IPO.
Spinneys Dubai is one of the largest supermarket chains in the UAE, with over 40 stores in Dubai and Abu Dhabi. The company is known for its high-quality products and services and has a strong brand reputation.
The IPO of Spinneys Dubai would be the latest in a string of IPOs in the UAE, as the country seeks to attract more foreign investment and develop its capital markets. In recent months, a number of other companies have gone public in the UAE, including Americana Restaurants, Emaar Malls, and Dubai Electricity and Water Authority (DEWA).
The IPO of Spinneys Dubai is expected to be well-received by investors, as the company is profitable and has a strong growth trajectory. The UAE’s retail sector is also growing rapidly, as the country’s population continues to increase and its economy diversifies.
Why is Spinneys Dubai considering an IPO?
There are a number of reasons why Spinneys Dubai may be considering an IPO in 2024. One reason is to raise capital to fund the company’s growth plans. Spinneys Dubai is planning to open a number of new stores in the UAE and Oman in the coming years, and an IPO would provide the company with the資金 to do so.
Another reason for the IPO is to increase the company’s liquidity and make it more attractive to potential investors. Spinneys Dubai is currently a privately held company and an IPO would make it more accessible to a wider range of investors.
Finally, an IPO would also help to raise the company’s profile and brand awareness. Spinneys Dubai is a well-known brand in the UAE, but an IPO would help to introduce the company to a wider global audience.
What does the IPO mean for investors?
The IPO of Spinneys Dubai is expected to be well-received by investors, as the company is profitable and has a strong growth trajectory. The UAE’s retail sector is also growing rapidly, as the country’s population continues to increase and its economy diversifies.
Investors who are interested in investing in the IPO should carefully consider the company’s financial performance and growth prospects. They should also research the UAE’s retail sector and the risks associated with investing in an IPO.
How can investors invest in the IPO?
Investors who are interested in investing in the IPO of Spinneys Dubai can do so through their investment broker. Investors should contact their broker to learn more about the IPO and to open an investment account.
The IPO of Spinneys Dubai is expected to be one of the largest IPOs in the UAE in 2024. The company is profitable and has a strong growth trajectory, making it an attractive investment opportunity for investors.
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September 25, 2023
Oman Air announces 20% flight sale
Oman Air, the national carrier of Oman, has announced a major sale on global airfares, offering discounts of up to 20% on all classes of travel.
The sale is valid for bookings made between September 23 and 28, 2023, and for travel between October 1 and December 31, 2023.
Customers can take advantage of the sale by booking their flights on the Oman Air website, mobile app, or through their local travel agent.
The sale is available on all Oman Air flights, including flights to and from Muscat, Salalah, Dubai, Abu Dhabi, Doha, Bahrain, Riyadh, Jeddah, Cairo, London, Paris, Frankfurt, Mumbai, Delhi, and Bangalore.
Oman Air is known for its award-winning service and luxurious cabins. The airline offers a variety of amenities to its passengers, including complimentary meals and drinks, in-flight entertainment, and generous baggage allowance.
Oman Air is also committed to sustainability. The airline has implemented a number of initiatives to reduce its environmental impact, such as using fuel-efficient aircraft and investing in renewable energy.
Oman Air offers major discounts on global airfares
Oman Air, the national carrier of Oman, is offering major discounts on global airfares, with savings of up to 20% on all classes of travel.
The sale is valid for bookings made between September 23 and 28, 2023, and for travel between October 1 and December 31, 2023.
The sale is available on all Oman Air flights, including flights to and from Muscat, Salalah, Dubai, Abu Dhabi, Doha, Bahrain, Riyadh, Jeddah, Cairo, London, Paris, Frankfurt, Mumbai, Delhi, and Bangalore.
Oman Air is known for its award-winning service and luxurious cabins. The airline offers a variety of amenities to its passengers, including complimentary meals and drinks, in-flight entertainment, and generous baggage allowance.
Oman Air is also committed to sustainability. The airline has implemented a number of initiatives to reduce its environmental impact, such as using fuel-efficient aircraft and investing in renewable energy.
The Oman Air sale is a great opportunity for travelers to save money on their next flight. With its award-winning service and luxurious cabins, Oman Air is the perfect airline for your next trip.
Tips for taking advantage of the Oman Air sale
- Book your flights early. The best deals tend to go quickly, so it’s best to book your flights as soon as possible.
- Be flexible with your travel dates. If you can, be flexible with your travel dates to get the best deals.
- Consider flying to and from secondary airports. Secondary airports often have lower landing fees, which can translate into lower fares for passengers.
- Sign up for the Oman Air newsletter. Oman Air regularly sends out emails with special offers and discounts.
Your Queries Answered:
Q1: What is the Oman Air 20% flight sale?
A: The Oman Air 20% flight sale is a special offer that allows customers to save up to 20% on all classes of travel.
Q2: When is the Oman Air 20% flight sale valid for?
A: The Oman Air 20% flight sale is valid for bookings made between September 23 and 28, 2023, for travel between October 1 and December 31, 2023.
Q3: Where can I book my flights for the Oman Air 20% flight sale?
A: You can book your flights for the Oman Air 20% flight sale on the Oman Air website, mobile app, or through your local travel agent.
Q4: Which destinations are included in the Oman Air 20% flight sale?
A: The Oman Air 20% flight sale is available on all Oman Air flights, including flights to and from Muscat, Salalah, Dubai, Abu Dhabi, Doha, Bahrain, Riyadh, Jeddah, Cairo, London, Paris, Frankfurt, Mumbai, Delhi, and Bangalore.
Q5: What are the benefits of flying with Oman Air?
A: Oman Air is known for its award-winning service and luxurious cabins. The airline offers a variety of amenities to its passengers, including complimentary meals and drinks, in-flight entertainment, and generous baggage allowance. Oman Air is also committed to sustainability. The airline has implemented a number of initiatives to reduce its environmental impact, such as using fuel-efficient aircraft and investing in renewable energy.
Q6: What are some tips for taking advantage of the Oman Air 20% flight sale?
A: Here are some tips for taking advantage of the Oman Air 20% flight sale:
- Book your flights early. The best deals tend to go quickly, so it’s best to book your flights as soon as possible.
- Be flexible with your travel dates. If you can, be flexible with your travel dates to get the best deals.
- Consider flying to and from secondary airports. Secondary airports often have lower landing fees, which can translate into lower fares for passengers.
- Sign up for the Oman Air newsletter. Oman Air regularly sends out emails with special offers and discounts.
Additional questions:
Q7: Can I use the Oman Air 20% flight sale on multiple tickets?
A: Yes, you can use the Oman Air 20% flight sale on multiple tickets. However, all tickets must be booked at the same time and for the same travel dates.
Q8: Can I cancel or change my flights for the Oman Air 20% flight sale?
A: Yes, you can cancel or change your flights for the Oman Air 20% flight sale. However, you may be subject to cancellation and change fees.
Q9: Can I use the Oman Air 20% flight sale on award tickets?
A: No, you cannot use the Oman Air 20% flight sale on award tickets.
Q10: Can I use the Oman Air 20% flight sale in conjunction with other promotions?
A: No, you cannot use the Oman Air 20% flight sale in conjunction with other promotions.
Q11: What if I have more questions about the Oman Air 20% flight sale?
A: If you have more questions about the Oman Air 20% flight sale, you can contact Oman Air customer service.
UAE targets $10bn food industry and 20,000 new jobs
September 24, 2023
GCC Ministers of Labour Committee Meeting in Muscat: Minister Al Awar Stresses Cooperation for Labour Market Enhancement
Muscat, Oman – The ninth meeting of the Ministers of Labour Committee of the Gulf Cooperation Council (GCC) countries convened in Muscat on September 19-20, 2023, and saw the participation of His Excellency Dr. Abdulrahman Al Awar, the Minister of Human Resources and Emiratisation. During the conference, Minister Al Awar emphasized the paramount importance of this gathering, highlighting the significance of fostering cooperation within the GCC to strengthen the labor market.
This collaborative approach is in line with the strategic vision of the Ministry of Human Resources and Emiratisation (MoHRE), which aims to promote labor relations and partnerships not only within the Gulf region but also on the Arab and international fronts. The discussions held at such meetings have a direct impact on improving the lives of communities, enhancing the ease of conducting business and safeguarding the welfare of workers.
Minister Al Awar stated, “The meeting of the GCC Ministers of Labour Committee is an ideal opportunity to exchange views and experiences, discuss legislation and effective initiatives in Gulf labor markets, and develop a shared vision that supports GCC workers and enhances the efficiency of national labor markets across the region. This aligns with the directives of political leadership and the aspirations of people throughout the Gulf for a more prosperous present and a brighter future.”
In addition to the formal sessions, the meeting included a ceremony to honor companies that have excelled in achieving their Emiratisation targets, as well as outstanding small businesses across all GCC nations. Notable awardees from the UAE included Keolis M.H.I. for their achievements in train management and operating services and Etimad Holding in the Emiratisation category. DermaMed Clinic received recognition in the small project category. Minister Al Awar extended his congratulations to these companies for their substantial contributions in supporting Emiratisation plans and small and medium-sized enterprises.
Accompanying Minister Al Awar at the meeting were Aisha Belharfia, Acting Under-Secretary for Emiratisation Affairs and Assistant Under-Secretary for Labour Affairs at MoHRE, and Shaima Al Awadhi, Acting Assistant Under-Secretary for Communication and International Relations at the Ministry. The event served as a platform for the exchange of ideas, experiences, and best practices, aiming to create a more robust labor market across the GCC region and ultimately improve the well-being of workers and the efficiency of national labor markets.
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September 23, 2023
Monthi Festh – 2023 Celebrated with Grandeur by Ghala Mangalorean Catholic Community of Church (GMCC), Muscat
Muscat, Oman – September 14, 2023 – The birth of Mother Mary, fondly known as “Monthi Saibinnichem Festh,” is a cherished celebration among the Konkani community of Mangaluru. This global festivity is an occasion for Konkani families to come together, reminiscing and honoring the Nativity feast with great pomp and grandeur.
In line with the commitment to preserving the rich culture and heritage of Mangaluru, the Ghala Mangalorean Catholic Community (GMCC) in Muscat, Oman, celebrated the Monthi Fest with profound devotion on Saturday, September 9th, at The Holy Spirit Church, Ghala.
The high mass was guided by the Konkani Spiritual Director and Parish Priest of Ruwi, Rev. Fr. Stephen Lewis OFM Cap, in collaboration with Parish Priest of Ghala, Fr. George Vadukutt, and Fr. Catalino Miranda. The main celebrant for the occasion was Fr. Joachim D’Souza, OFM Cap, currently serving as the superior of ASHA KIRAN de-addiction center in Heroor, Brahmavar, under the Provincial of Karnataka Capuchins.
The Monthi Fest celebration commenced with a nine-day Novena from August 30th to September 7th. Konkani community members, along with children, participated wholeheartedly, coming from near and far, and offering fresh flowers to Mother Mary. The Novena sessions featured devotional hymns, Gospel readings, spiritual homilies, and blessed dinners for the faithful, enriching the spiritual experience.
GMCC has been marking the Nativity feast every year by sharing new corn and blessing the fruits of people’s labor through the annual ‘Novem Jevann.’
The festal service commenced with a Rosary at the Grotto, followed by a small procession led by Stino and Sonal Pinto, carrying the ‘banbino,’ while flowers were showered upon Infant Mother Mary to the hymn ‘Moriyek Hogollsiyan.’ Children of all ages participated by offering flowers to Mother Mary in the church Grotto, and a significant gathering joined in the Solemn High Eucharistic celebration. The newly harvested ‘Khanshi’ (rice corn) was blessed at the Mother Mary Grotto.
The melodious choir was an integral part of the celebration, enhancing the devotion of the congregation. The choir team, consisting of talented members, filled the church with divine melodies.
After the high Mass, ‘khanshi’ (paddy corn) and ‘Novem jevann’ were offered to the community, and goody bags were distributed to children. A special highlight of this year’s celebration was the distribution of ‘kobu’ (sugarcane), specially harvested for the feast day, following a cherished tradition.
The readings and prayers during the celebration engaged the congregation’s spiritual enthusiasm, creating a meaningful and memorable experience for all.
GMCC, represented by its dedicated executive committee members, plays a vital role in organizing and conducting the Monthi Fest celebration. Their names and respective positions are as follows:
- Prem Colaco: President
- Ophelia Lazarus: Vice President – Finance
- Praveen Serra: Vice President – Cultural
- Wilson Kinnigoli: General Secretary
- Stino Pinto: Finance Secretary
- Loy Castelino: Cultural Secretary
- Alex Noronha: Internal Auditor
- Suneel Menezes: Sports Secretary
- Lloyd D’Cunha: Community Services Secretary
- Meera Saldanha: Spiritual & Choir Secretary
- Selwin Lewis: Techno-Support Secretary
The ‘Novem Jevann’ was prepared by a dedicated team of individuals and families who contributed to making the celebration a success.
The Monthi Fest, celebrated with fervor and devotion, brought the Konkani Catholic community in Ghala closer to one of Mangaluru’s most cherished traditions, even while far away from their homeland.
The event was made possible with the support of various sponsors and contributors who played essential roles in bringing the celebration to life. Their generous contributions ensured a memorable Monthi Fest for the community.
This celebration is a testament to the enduring spirit of Mangalorean culture and traditions, celebrated with utmost devotion and enthusiasm by the Ghala Mangalorean Catholic Community in Muscat, Oman.
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September 15, 2023
Oman and South Korea Sign MoU on Green Energy Transition
Oman and the Republic of Korea have signed a memorandum of understanding (MoU) to enhance cooperation in the field of green energy transition. The MoU was signed by Oman’s Ministry of Energy and Minerals and South Korea’s Ministry of Environment. The agreement reflects the strong bilateral relations between the two countries and their mutual interest in advancing green transition efforts.
Key aspects of the MoU include:
1. Understanding and Cooperation: The MoU aims to foster a better understanding of green transition policies and technologies. It encourages cooperation between the governmental, industrial, and research institutions of both countries.
2. Policy and Program Development: The two countries will collaborate in devising green transition policies and programs. This includes the development of technologies for environment conservation throughout the production, storage, delivery, and use of green energy.
3. Capacity Building: The MoU supports building capacities to address climate crises and promote climate resilience.
4. Industry Cooperation: Cooperation will extend to industries that contribute to green transition, research activities, development affairs, and other related areas.
Oman’s strategic plans for energy transition align with global goals to reduce carbon emissions, promote sustainable development, and diversify energy sources. The Ministry of Energy and Minerals is actively seeking local and international partnerships to achieve the country’s transition to green energy. This includes the implementation of clean energy projects and the promotion of investments in green hydrogen.
The MoU with South Korea underscores Oman’s commitment to advancing its green transition efforts and leveraging international partnerships to achieve its energy and environmental goals.
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August 27, 2023
Green Data City and Phoenix Group Collaborate on $300 Million Crypto-Mining Farm in Oman
In a move that solidifies Oman’s standing as an attractive destination for data center and cryptocurrency mining services, Green Data City based in Muscat, and Phoenix Group headquartered in Abu Dhabi has entered into a partnership to establish a state-of-the-art crypto-mining farm with a capacity of 150MW in Oman.
The formal agreement was signed during a recent ceremony attended by notable figures including Eng Said al Maawali, the Minister of Transport, Communications and Information Technology, and Hisham Malak, a Board Member of Phoenix Group and Under-Secretary of the Department of Finance of Abu Dhabi.
The ambitious project is set to be housed within Green Data City’s premises and is projected to be fully operational by the second quarter of 2024. Once active, the crypto-mining farm will rank among the largest data centers dedicated to crypto-mining in the region. Phoenix Group, backed by MicroBT and boasting substantial expertise in mining operations across the Middle East, will spearhead this venture.
The decision to establish the crypto-mining farm in Oman was influenced by several factors, including the secure long-term environment guaranteed by the Green Data City mining license. Additionally, the common aspiration to advance cryptocurrency mining and artificial intelligence applications in collaboration with the Ministry of Transport, Communication, and IT played a pivotal role. The climatic advantage of Oman, particularly in the Governorate of Dhofar, with its cooler temperatures, has also been leveraged to minimize cooling energy consumption, making Oman a remarkably sustainable destination for mining activities in the region.
With a strong commitment to environmental and social responsibility, the developers plan to construct the $300 million farm using modular units to minimize land impact, incorporating solar shades and employing specialized technicians from the local community. The project also aligns with educational goals, as partnerships with universities in Oman will allow students and graduates to gain firsthand experience with mining operations. This long-term vision aims to bolster the nation’s expertise in cryptocurrencies, next-generation finance, and IT innovation.
Having successfully completed the proof-of-concept phase initiated in November 2022, Green Data City welcomed four mining companies (including both local and international miners) on-site, equipped with advanced immersion cooling systems to conserve water resources. Continuing under the guidance of the MTCIT (Ministry of Transport, Communication, and Information Technology), Green Data City will allocate mining capacities, foster a stable crypto infrastructure ecosystem, and focus on power consumption reduction, renewable electricity utilization, and durable contracts for miners.
Green Data City LLC holds the distinction of operating Oman’s inaugural sustainable crypto-mining license since 2022. The facility provides international mining companies with the opportunity to register and operate within its premises through long-term agreements. The development’s first phase encompasses a 200MW mining capacity, with the subsequent phase targeting a 400MW hyperscale data center capacity, incorporating natural cooling methods, renewable energy sources, and downstream applications. This ambitious initiative also extends to real estate and hospitality investments, poised to create a pioneering data and blockchain ecosystem within the region.
Founded in 2016, Phoenix Group is a significant player in the field, managing 725MW across global mining facilities with a presence spanning Canada, North America, CIS, and the UAE. The group’s international scope is underscored by its diverse locations and a workforce of over 177 professionals representing 16 nationalities. Services offered include mining, hosting, and cooling, alongside investments in web3 technologies and regulated digital asset exchanges. Systematic trading has recently been incorporated into its diverse portfolio of operations, solidifying Phoenix Group’s dynamic presence in the industry.
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August 24, 2023
Foreign direct investments in Oman reach $55.7bln
The volume of direct foreign investments in Oman increased by the end of the first quarter of this year by 23.3 percent, to reach OMR 21.270 billion, with an estimated financial flow of OMR 4.20 billion, compared to an investment volume of OMR 17.250 billion during the first quarter of 2022.
According to preliminary data issued by the National Centre for Statistics and Information, the oil and gas extraction sector has acquired the largest volume of foreign direct investment to Oman until the end of the first quarter of 2023, amounting to OMR 15.835 billion, up from OMR 11.697 billion in 2022, followed by the activity of manufacturing industries with OMR 1.571 billion, down from OMR 1.671 billion in 2022, then financial brokerage activity with OMR 1.514 billion, compared to OMR 1.460 billion previously.
Foreign direct investment in real estate decreased to OMR 1.44 billion at the end of the first quarter of 2023, from OMR 1.48 billion at the end of the first quarter of 2022. Foreign direct investment in other activities declined to OMR 1.338 billion compared to OMR 1.373 billion in 2022.
The United Kingdom topped foreign direct investments to Oman with a value of OMR 10.352 billion, followed by the United States with OMR 3.508 billion, then China with OMR 1.231 billion.
Meanwhile, the value of investments from other countries to Oman; The investments from United Arab Emirates amounted to OMR 934.900 million, from Kuwait OMR 3.778 million, from the State of Qatar OMR 431.200 million, from the Kingdom of Bahrain OMR 375.100 million, from the Republic of India OMR 296.4 million, from the Netherlands OMR 291.500 million, and from Switzerland OMR 181.900 million. The value of direct foreign investments from other countries reached OMR 2.893 billion.
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