FIEO Connects Indian Exporters to Oman’s Business Potential

Chennai, Tamil Nadu, India: Business Gateways International, Oman (businessgateways) and the Federation of Indian Export Organisations (FIEO) signed a Memorandum of Understanding as a part of a joint endeavour to facilitate and strengthen collaborations between Omani and Indian business communities. Business Gateways International, Oman (businessgateways) and the Federation of Indian Export Organisations (FIEO) signed a Memorandum of Understanding as a part of a joint endeavour to facilitate and strengthen collaborations between Omani and Indian business communities. With more and more Indian companies wanting to integrate to Oman’s business opportunities through the mandatory supplier certification system – the Joint Supplier Registration System (JSRS), businessgateways and FIEO have agreed to intensify the engagement of Indian and Omani companies through a Partnership model. Started in 2014, JSRS is a mandatory supplier certification system, initiated by Oman’s Ministry of Oil & Gas and developed and operated by businessgateways. The purpose of JSRS is to streamline the registration and certification process through a ‘single window’ model connecting National & International Suppliers to all the Oil & Gas Operators and Other Industry Buyers of Oman. Some of the sectors that supply to Oman’s Oil & Gas Industry and Other Industries are Manufacturing, Logistics, Construction, IT Services, Mining, Engineering, Utilities, Manpower and Other Services. Open sources indicate that the project potential in Oman (all sectors) is over US$ 180 BN. Today, the JSRS hosts thousands of suppliers from 100+ countries and is a full-fledged procurement platform, utilized by Oman’s top corporates for their procurement activities. According to the MoU, Indian Exporters will be provided with an opportunity to be certified on Oman’s JSRS and avail several benefits on being certified. Indian companies will be able to access open tenders across Oman and the other GCC countries. businessgateways will play a key role in supporting FIEO members’ market expansion and investment initiatives in Oman. FIEO will be integrated to the Connect_Oman initiative to foster B2B engagements and delegation visits between Oman and India. JSRS Certified FIEO members can avail Industry Certifications which are Buyer-specific accreditations such as Public Establishment for Industrial Estates (Madayn) Supplier Certification. Mr. Israr Ahmed, Regional Chairman, FIEO (SR) believes that this partnership with businessgateways would bring FIEO and its member companies closer to Oman’s key market potential. Hemant Murkoth, CEO of businessgateways, welcomed the Strategic Partnership with FIEO, stating that this initiative will result in a better engagement model benefitting FIEO member companies and Oman’s business community on the JSRS.