BiZQ - SBF Download Area - Singapore Business Federation

35Mr Shabbir Hassanbhai,Ambassador and Co-chairof the SOBC and CouncilMember of SBF“In theareas oftourism,healthcare,capacitybuilding, aswell as logistics,infrastructureand industrialdevelopment,Oman’scompetitiveoperating coststructure willallow SingaporeSMEs to tapinto marketsof the GulfCooperationCouncil andAfrica.”Developing SMEs in Omanand volumes amountedto 11.9 million tonnes.The moves byBankMuscat and OTIillustrate the growingties between Oman andSingapore. Bilateral tradeamounted to $1.29 billionin 2010, a 13% increasefrom the year before.According to theSingapore BusinessFederation (SBF),Singapore firms havesecured over $2.4 billionworth of projects inOman. While much of thiscame from Sembcorp’sUS$1 billion (S$1.25billion) independentwater and power projectin Salalah, more deals areexpected to bear fruitas ties between the twocountries continue to grow.Port infrastructureOman’s major Ports ofSohar and Salalah specialisein petrochemicals andindustrials, as well ascontainer shipping. TheOmani government’sUS$14 billion developmentplan for the Port of Soharincludes an oil refinery, apolypropyleneplant, a steel-rollingmill, a urea andammonia plantand an aluminiumsmelter.Sohar alsohas a SpecialEconomic Zoneand, together withthe Salalah Free Zone,offers investors andmanufacturers logistics,freight-forwarding andmanufacturing facilitieswith easy access to majordeveloping markets.The Port of Salalah isone of the largest transshipmentports in theworld as it is the onlyone between Europeand Singapore whichcan accommodate largeS-class container ships– one of the reasons whymajor shipping companieshave a presence there.Singapore’s expertisein port infrastructure iscurrently being sought asOman proceeds with itsplan to develop 12 portsin the country. Theseinclude a masterplan study,reportedly by JurongInternational, to establish amajor free trade zone andindustrial area in Duqm.Another Singaporeplayer is heavy liftspecialist Yew Choon PteLtd. Having worked onport infrastructure projectsin Oman, it is a one-stopservice provider foroversized and heavy loads,encompassing marineand land transportation,warehousing, storageand engineering.Oman and Singaporerecently agreed to step upcooperation in promotingproducts and municipalservices, including thoseof small and mediumenterprises (SMEs). Bothdelegations met duringthe 10th session of theOmani-Singaporean JointCommittee meetings inby Oman’s PublicEstablishment forIndustrial Estates.The country will alsobenefit from Singapore’sexperience in helping andworking with SMEs, anddeveloping sectors intransport, wastewater andwater treatment, as wellas power generation.January.The meeting alsoThe two sides will highlighted theSBF-Oman networkpromote Omani productsin Singapore under aconstruction of roads,landfill management,SBF is also activelypromoting Singaporecampaignconducted recycling and privatisation.p.36The Port of Salalah is a vitaltrans-shipment hub for containershipping in the area.OMAN’SMAJOR PORTSspecialise in petrochemicals,industrials andcontainer shipping.The Omani government’sUS$14 billion(S$18 billion)investment plan forPORT OF SOHARincludes:OIL REFINERYPOLYPROPYLENEPLANTSTEEL-ROLLING MILLUREA ANDAMMONIA PLANTALUMINIUM SMELTERPORT OF SALALAHOne of the largest in theworld, it is the only transshipmentport betweenEurope and Singapore thatcan accommodate largeS-class container ships.Both ports offer logistics,freight-forwarding andmanufacturing facilities,with easy access to majordeveloping markets.Getty Images