In what I think is an excellent move, Oman's investment fund is getting into Vietnam (above), as reported in vovnews. $100 million big ones.
It should be a good investment.
I only wish many Omani youth, currently out partying over a regional football game, would realise the incredible competition they have in the real world to pay their way. People in other nations, like Vietnam, with sure, a few natural resources, but a need to work due to population pyramid effects. These guys WORK.
And that is what Oman is up against long term. Countres that save, rather than borrow; and work - sun up to sunset, often as families, doing business. Making money the hard way .... by working their asses off.
Photo: Vietnamese people, working their asses off.
Oman is nice, I admit. Hey, that's why I'm here.
But it is sleepy here. Omani's do not generally have much of that SE Asian zest.
Here it's more 'Inshallah, man'. And the terrible inefficiency of low paid, unskilled/low skilled Indian labour doing almost everything. Which I can handle mostly, perhaps because I'm not really a business man trying to make a buck I guess. It has in parts that Caribbean feel sometimes.
So, good luck Oman in the football. Al Habsi is a total star player, and with him you have a great chance.
But the other 100,000 of you, who won't be playing in the premiership, err, better start working. Notice how few 'Go Oman!!!!' tricked up cars are a part of the morning commute?
'Cos oil income is not going to be enough. And your Dad can't do too much more borrowing against his ex-rising house/lands/stock market to keep supporting you in the lifestyle to which you have become accustomed, ...
Vietnam hails Omani investment
Deputy Prime Minister Nguyen Sinh Hung affirmed Vietnam’s commitment to strengthening economic ties with Oman while receiving leaders from an Omani-invested company on January 5.
At the meeting, Warith Mubarak Said Al Kharusi, Chief Executive Officer of the Vietnam-Oman Investment Company (VOIC), briefed the deputy PM on the company’s activities and its plan to expand investment and cooperation.
Mr Kharusi, who also heads the Oman State Reserve Fund, said the joint venture intends to raise its registered capital to US$5 million from the initial amount of US$1.5 million. He told the Deputy PM that the Omani partners pledge to invest US$100 million in Vietnam through VOIC, which will be developed strongly to attract other investors.
For his part, Mr Hung welcomed the partnership between Vietnam’s State Capital Investment Corporation (SCIC) and Omani partners and emphasized that the Vietnamese Government always encourage Omani expansion of investment and cooperation in Vietnam.
The state leader said Vietnam strives to grow at 6.5 percent in 2009 and VOIC should prepare comprehensively before investing in the Southeast Asian markets, which have potential consumer demands.
“The Vietnamese Government is accelerating reforms to perfect the investment climate,” said Nguyen Sinh Hung, adding that cooperative investment will help enhance Vietnam-Oman relations and boost their bilateral cultural cooperation.
VOIC came into being after the Deputy PM’s official visit to the Kingdom of Oman in December 2007, during which the two sides’ leaders agreed to set up a joint investment fund for strategic projects in Vietnam.