SGRF, OOC open office in Tanzania!

• GATEWAY TO AFRICA: Sultanate hopes to establish linkage to Bagamoyo Port –

MUSCAT: The Minister of Transport and Communications Dr Ahmed bin Mohammed al Futaisi inaugurated the joint representative office of the State General Reserve Fund (SGRF) and Oman Oil Company (OOC) in Tanzania.

Abdulsalam bin Mohammed al Murshidi, CEO of the State General Reserve Fund (SGRF) said that it is crucial for SGRF to have a representative office in Tanzania as a step to complement and enhance the Fund’s investments in Bagamoyo Port and free industrial zone to function as a linking ring between Omani investors and the African markets.
The representative office comes within the framework of the strategic partnership between the SGRF and OOC and it will coordinate efforts between the two entities.

The upcoming Bagamoyo Port project in Tanzania is one of the largest strategic projects to be executed by the State General Reserve Fund (SGRF) in partnership with the government of Tanzania represented by Ports Authority, and China, represented by China Merchant Group, said the Minister of Transport and Communications, Dr Al Futaisi.In comments to Oman News Agency (ONA), Dr Al Futaisi said that this is an important project to the Sultanate from several angles such as the economic diversification and expansion in the logistics and ports sectors. The Sultanate has begun setting up strategic partnership with China Merchant Group, a giant firm operating in the port sector, and that partnership will earn the Sultanate a positive outcome.

The African market is a nascent and promising one on the international level and the Sultanate will open a gateway to the African continent benefiting from its location in terms of increasing its income sources and linking the Sultanate’s ports with the world ports. Our future vision is to establish a linkage between Bagamoyo and the Sultanate’s ports, Al Futaisi said. — ONA