MUSCAT – The Public Establishment for Industrial Estates – Madayn has inked a Memorandum of Understanding (MoU) with Shandong Shanzuo Holding Group Co. Ltd. in the People’s Republic of China to develop and promote strategic cooperation in diverse areas that serve interests of the two sides. The MoU was signed remotely by Hilal bin Hamad Al Hasani, CEO of Madayn, and Lillian Shi, CEO of Shandong Shanzuo Holding Group Co., and in the presence of Warda Al Shaqsi, Deputy Head of the Sultanate of Oman’s mission in China.
The MoU focuses on mutual promotion to encourage investments in both countries and establish projects that contribute to achieving economic growth. The MoU also aspires to boost cooperation in import and export activities between Oman and China, provide support in carrying out related commercial businesses, as well as ensure provision of administrative and logistical support for the businesses.
Commenting on the agreement, the CEO of Madayn emphasised that this strategic MoU comes along the lines of Madayn 2040 Vision priorities, specifically in pillars related to strengthening Public-Private Partnership, attracting more foreign investments into Oman, and fostering international cooperation. “The MoU aims at strengthening strategic cooperation between Madayn and Shanzuo Group, exchange information, organise visits for investors from both sides, and explore business opportunities in both countries for the investors. Moreover, we will provide the investors with all necessary information and incentives they need to set up projects in Oman and China,” Al Hasani pointed out.
Lillian Shi, CEO of Shandong Shanzuo Holding Group Co., said: “We are pleased that Madayn and Shanzuo Group have reached to this strategic partnership. As Shandong Shanzuo Holding Group, we strive to be a comprehensive multi-national corporation through delivery of high profile international business services. Besides, we look forward to implement this strategic partnership and promote projects in both Oman and China to facilitate the way to Chinese businesses to set up projects in Oman and vice versa.”
As per the agreement, Shanzuo Group shall provide Madayn with free of charge display area in the Demonstration Park for the purposes of advertising and promoting Madayn’s investments, office space for Madayn in Hanyu Gold Valley, market consultation services for Madayn in China, encouragement of Chinese companies to invest in Oman. Shanzuo Group will also promote Madayn and its brand to the Chinese companies and market, and recommend expert teams to handle other commercial services that Madayn requires in China.