A GIFT THROUGH THE AGES
One of the world's best producers of frankincense, Oman will celebrate its ancient frankincense trade with its Dubai Expo pavilion.
Once known as “Sweat of the Gods" by ancient Egyptians, frankincense (meaning “pure incense in Old French) is one of Oman's greatest natural treasures and valuable resources. Though the tree genus that produces the frankincense resin is grown throughout Somalia, Yemen, and even parts of China, Boswellia sacra, claimed to produce the highest-quality frankincense, is only found in Oman. Journeying through the Land of Frankincense, a UNESCO World Heritage site encompassing 850ha in Dhofar, one can trace Oman's historical trade of the mystical aroma. Starting from Wadi Dawkah, where these trees naturally grow, frankincense traders would travel from the ports of Khor Rori or Al-Baleed to reach far-away markets in China and India, or travel over the Arabian Desert to reach markets in the Greek and later Roman Empire.
While frankincense may not be worth its weight in gold today as in years past (though it still comes with a hefty price in its most distilled form), it still has its place in Omani culture. While strolling through Muscat's Mutrah Souq, one can find sellers of amber-, caramel-, and cream-colored frankincense nuggets. Previously valued as a panacea for a number of body ailments, today it is used in medicines and teas to promote healthy digestion and skin. Its smell is said to ward off snakes, mosquitos, and even djinns, and it is burned in its incense form after a meal as symbol of hospitality and status symbol in Omani homes.
That is why it comes as no surprise that frankincense has been chosen as the symbol of Oman's pavilion at the Dubai Expo, tying together tradition along with modernity. The pavilion's exterior, designed by Adi Architecture, will resemble the frankincense tree, while inside will include five zones describing the ways in which the resin has benefitted Oman over centuries, from medicine to food and cosmetics.
A GIFT THROUGH THE AGES
TABLE OF CONTENTS
Focus: Future foreign policy
Friends to all, enemy to none
In championing the late Sultan Qaboos' non-interference foreign policy, the new ruler of Oman, Sultan Haitham bin Tariq Al Said, is determined to work for friendship and peace, justice and harmony, and coexistence and positive constructive dialogue.
read articleInterview
David Kalife, CEO, Oman Oil Marketing Company (OOMCO)
Despite Oman's fuel market slowing down, OOMCO increased its sales volume of lubricants by 36% in 2019 and is constructing a greenfield bunker terminal at the Port of Duqm. The company has transformed while growing its expertise in Marketing and Digital.
read articleInterview
Azzan Al Busaidi, CEO, Ithraa
Azzan Al Busaidi is an expert in competitiveness and economic growth. He was appointed CEO of Ithraa in 2019 after 17 years spent covering managerial roles in the organization. Al Busaidi was previously Ithraa's director general of planning and studies and is a strong advocate of the potential of digitization. He holds an MBA from the University of Strathclyde and a BSc in Economics from Sultan Qaboos University.
read articleInterview
Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion & Former Chairman, Oman Chamber of Commerce and Industry
Private Omani companies will be able to benefit greatly from the Fourth Industrial Revolution by enhancing their local value-added strategies and upskilling the workforce.
read articleInterview
Tahir Bin Salim Bin Abdullah Al Amri, Executive President, Central Bank of Oman (CBO)
The Central Bank of Oman's job is to ensure there is adequate liquidity in the system and that banks remain robust and resilient to meet the credit requirements of all segments without undermining financial stability.
read articleB2B
Capital markets
CMA and MSM are supporting Vision 2040 by providing financing to government companies that intend to go public, financing expansion of existing and new IPOs, and widening the investors base in Oman by enhancing and developing the investment funds and insurance industries.
read articleInterview
Khalid Al Balushi, CEO, Khazaen Economic City
International investors and business owners can benefit from Khazaen Economic City's strategic location and its close proximity to the main gateways of the country to import, process, manufacture, distribute locally, and export their goods and services.
read articleFocus: Port 4.0
Destined for greatness
Investments in world-class infrastructure have generated huge rewards for Oman. The goal now is to leverage technology as a disruptive enabler, build human capacity across the public and private logistics sectors, and drive operational efficiencies to build an integrated logistics business environment that is benchmarked against the world's best.
read articleFocus: Gap in tourism services
All bases covered
An amalgamation of local companies and unique experiences in Oman has created an original flavor that is further differentiating Oman's tourism offering from other countries and in the process attracting scores of tourists from all across the world.
read articleB2B
Engineering design
Renardet Engineering Consultants and Design Unit Engineering are recognized experts in their fields. While the former is an international company strongly committed to excellent engineering consultancy services and environmental practices, the latter is an Oman-based team of architects and engineers that incorporates local culture and traditions.
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Construction materials
Oman's construction sector is facing a host of challenges, but Hempel Paints and Al Maha Ceramics are confident that a mix of forward-thinking business models, unique products, and strong government initiatives will help them through turbulent times and generate positive returns in the long run.
read articleInterview
Salim Razvi, CEO, Oman Academic Accreditation Authority (OAAA)
Focusing on higher education institutional accreditation, program accreditation, and the updating and maintaining of the Oman Qualifications Framework, OAAA is helping further advance higher education in the Sultanate.
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