August 19, 2019: Supply chain solutions company Panalpina is headed to the Middle East, establishing its presence in Oman. Its office in the capital Muscat expected to open by the end of the third quarter in 2019.
Panalpina recently completed the registration of Panalpina Oman with a minority shareholding partner – the Daoud Group, a well-respected and family-owned Omani business conglomerate.
“Oman has become a pivotal geographical location for cargo flows to and from Qatar. Unlike some of the Gulf Cooperation Council (GCC) countries, Oman has not introduced economic sanctions and its trade with Qatar has increased by more than three times since the embargo started two years ago,” said Charles Francis, Panalpina’s country manager for Qatar, Kuwait and Oman.
Earlier, an agent handled Panalpina’s operations in Oman. Panalpina Oman will now cover core activities such as air freight, ocean freight and customs clearance.
Oman produces about 9,00,000 barrels of oil per day, which account for about four-fifths of government revenue. While oil and gas dominate exports, Oman also derives earnings from the export of dates and from tourism. Its major imports include motor vehicles, technical equipment, computer hardware and software, consumer products, textiles and foodstuffs.