Oman receives tourism project finance assurances

Foreign investors have given assurances they would push on with tourism projects in Oman despite to the global credit turmoil, the Gulf Arab state's tourism minister said on Wednesday.

Oman has allocated around 15 sites for tourism developments it estimates will cost $20 billion over the next seven years, as part of plans to lure a million visitors by 2009.

"All foreign investors, who are building resorts or planning to do so, have pledged to continue with their projects despite the international financial crisis," Rajha Abdulamir told newswire Reuters.

"These projects are important as to their contribution to our economy and the government is committed to give its support," she added.

Oman attracted some 650,000 tourists in 2007, 12 percent more than a year earlier. Projects include the $400 million Muscat Golf Course, the $7 billion Blue City, the $2 billion Salam Yiti resort by Dubai Holding and the Murya resorts project, planned by a unit of Egypt's Orascom Development Holding. (Reuters)

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