São Paulo – Representatives from Invest Oman, the investment promotion agency of Oman, the Public Authority for Special Economic Zones and Free Zones (OPAZ), and Sohar International Bank presented investment opportunities to Brazilian companies interested in operating in the Gulf country on Tuesday (4) at the Arab-Brazilian Chamber of Commerce (ABCC) in São Paulo. The executives from the Arab nation shared the economic diversification plan “Vision 2040” and highlighted the sectors with the greatest potential.
The ambassador of Oman in Brasília, Abdulghaffar Al Bulushi, said there is business potential in mining, tourism, food, and logistics as part of an effort to strengthen trade between the two countries. “The opportunities are here, and the doors are open,” he declared in an online address from the embassy.
According to a survey by Brazil’s Ministry of Development, Industry, Trade and Services compiled by the ABCC, Brazil exported USD 908.1 million to Oman year to date through September, mainly in iron ore, representing a 1.2% decrease compared to the same period in 2024. In the same comparison, imports totaled USD 466.8 million, down 20.4%, with the main imported products being fertilizers and petroleum derivatives.
Invest Oman presented investments the country is making in the airport, port, and free-trade zone sectors, as well as detailing its Vision 2040 plan, which aims to promote development across four pillars: people and society; economy; governance; and sustainability. The goal is to diversify an economy still heavily concentrated in petroleum derivatives and fertilizers.
To this end, the Gulf country is investing in energy transition, with projects such as green hydrogen, and in tourism, aiming to welcome 11 million visitors by 2040, up from 3.8 million last year. The country’s population is 5.2 million.
To ANBA, Ulla Al-Sulaimani, Head of Business Development at Invest Oman and leader of the delegation in São Paulo, said her country sees Brazil as “a strategic partner.” Regarding the food, logistics, and mining sectors, she said: “All of these sectors are very big here in Brazil, and we’d like to transfer some of that investment and some of that know-how to Oman. As such, we foresee a long-term collaboration with Brazil,” she said.
She said her country is “working hard and investing a lot of money” in logistics, so it could be a partner for Brazilian exporters to send their products to and re-export them from there to various countries.
Tailored financial products in Oman
To ANBA, Mohammed Ali Al Mulla, Head of Financial Instruments at Sohar International Bank, said Brazilian companies can find Oman not only as a destination for their products but, more importantly, as a re-export hub for a two-billion-people market in Asia. He added that the available financial products are diverse. “They can be tailored to the needs of each industry,” he said. “We can provide access to credit as companies require,” he added.
Several Brazilian companies took part in the meeting, including miner Vale, which has had a production unit in the Sohar free and port zone since 2007. Sergio Fernandes, Director of Development for Vale’s mega hub projects, spoke about the company’s long-standing presence in Oman and its expansion projects in 2022 and 2024. “Our history in Oman is not about production. It is about innovation and sharing a vision for the future,” he said. Vale was the organizer of the event.
For Al-Sulaimani, Vale’s presence in Oman demonstrates that Brazilian companies can succeed in the country. In her presentation, Invest Oman also highlighted fiscal benefits, such as reduced taxes for companies and personal income tax exemption until 2027, lower taxes on the purchase of machinery and raw materials, and a 10-year residence visa for investors and their families.
After the meeting, the Omani delegation attended a lunch at the ABCC and will, over the course of the week, have a schedule of visits to Brazilian companies. Participants in the meeting included Vale, food companies, chemical, financial, and investment sectors, infrastructure companies, Brazilian agribusiness group ABAG, and São Paulo industry group Fiesp.
Representing the ABCC were President William Adib Dib Jr., Vice President of International Relations & Secretary-General Mohamad Orra Mourad, Vice President of Marketing Silvia Antibas, and Director of Institutional Relations Fernanda Baltazar. Dib said Oman is seeking business in Brazil and that the meeting was an opportunity for companies to showcase their products. “Oman is closer than it seems and offers various opportunities. Among others, they highlighted opportunities in tourism,” he noted. Also attending the meeting were ABCC Institutional Relations Advisor Bassel Abou Latif and Senior Institutional Relations Analyst Elaine Prates, who accompanied the delegation during the week in a schedule in Brazil, also organized by Vale.
Read more:
Oman: The new gem of investment in the Middle East
Translated by Guilherme Miranda
