The Ministry of Transport, Communications and Information Technology (MTCIT) has signed a memorandum of understanding with Sindbad Overseas to establish a strategic cooperation framework for the development of Oman's maritime sector in support of Oman Vision 2040. The agreement was signed by H.E. Khamis bin Mohammed Al Shammakhi, Undersecretary for Transport at MTCIT, and Mohammed Abdulrahman Al Balushi, Chairman of the Board of Directors at Sindbad Overseas.
Under the MoU, both parties will work together to explore investment opportunities across Oman's shipping and maritime industries and to identify new business prospects in regional and international markets. The cooperation covers key areas such as marine leasing, shipping, investment, finance, and insurance, as well as initiatives that strengthen trade relations and foster long-term partnerships among public and private stakeholders.
The partnership also aims to support the development of ship registration under the Omani flag, organise specialised trade missions, and promote knowledge exchange within the maritime sector. By combining Sindbad Overseas' global expertise with MTCIT's policy leadership, the MoU will help position Oman as a competitive and attractive maritime hub.