SGID Wins the 10th “Economic Vision Award” in Oman

On December 21, 2022, the award ceremony of the 10th “Economic Vision Award” was held in Muscat. As one of the winners, State Grid International Development Co., Ltd (SGID) was presented the honorary award from Li Lingbing, Ambassador Plenipotentiary of China to Oman.

The award ceremony took place not long after the first China-Arab States Summit wrapped up with fruitful exchanges. It was co-organized by the Oman Chamber of Commerce and Industry in collaboration with the Al Roya Daily, a mainstream media outlet in the country, and received strong support from the Chinese Embassy in Oman and the Oman-China Friendship Association. The award aims to encourage international enterprises with experience in investment and diversification to strengthen their portfolios in Oman, boosting Oman’s GDP growth and diversifying the local economy with the best investment projects.

In March 2020, SGID successfully invested in Oman Electricity Transmission Company (OETC), and has actively promoted the development of OETC with full legal compliance since then. Leveraging State Grid’s advantages in financing, technology and management, SGID provided support to upgrade OETC’s credit rating, and improve its grid management and corporate governance by conducting technical exchanges. Such cooperation has become a model of investment by Chinese enterprises in Oman.

Li Lingbing spoke highly of SGID’s achievements since its investment in Oman and encouraged SGID to make continuous efforts and contribute more to the power grid construction and the economic development of Oman. Eng. Saleh Nasser Majid Al Rumhi, CEO of OETC, said that SGID’s winning of the “Economic Vision Award” would further polish the brand image of State Grid in Oman, help create a better external environment for OETC to expand its presence in the Middle East, and provide an impetus for tapping into non-regulatory businesses.

Officials from the Chinese Embassy in Oman, the Oman-China Friendship Association and the Oman Chamber of Commerce and Industry attended the ceremony.

Source: State Grid International Development Co., Ltd (SGID)