Enhanced financial connectivity and localized support are becoming increasingly vital for Chinese enterprises deepening their presence in the Gulf region, a trend expected to unlock massive cross-border market opportunities, experts said.

As cross-border businesses transition from early-stage market expansion to a new phase of supply chain localization, project construction, local operations and long-term financing, the financial support required by these enterprises has become more diversified. It extends beyond basic account opening or settlement to comprehensive scenarios such as cross-border supply chain finance, project financing and multicurrency capital management.

Highlighting this shift, Sohar International Bank and Ewpartners — formerly known as eWTP Arabia Capital — recently signed a strategic partnership agreement in Oman. The collaboration, expected to generate over $1 billion in financial cooperation, aims to fill this market gap by combining Ewpartners' Asia-Gulf cross-border investment network with Sohar International Bank's local banking capabilities to facilitate cross-border business flows.

"Our partnership with Sohar International Bank strengthens Ewpartners' local financial cooperation platform in Oman," said Jerry Li, founder and managing partner of Ewpartners.

"By combining Sohar International Bank's banking capabilities with Ewpartners' Asia-Gulf investment network, we can better support our portfolio companies, ecological partners and industrial projects, while helping Oman's financial ecosystem participate more deeply in the commercial flows of the Asia-Gulf region."

Li said the decision to launch this partnership in Oman is consequential. Facing the Arabian Sea and connecting to Indian Ocean shipping routes, Oman's ports — including Sohar, Duqm and Salalah — are located outside the Strait of Hormuz, offering a natural logistical alternative when regional transit risks rise. Meanwhile, Oman has long maintained political stability and neutral diplomacy, providing an open trade environment for cross-border enterprises through the US-Oman Free Trade Agreement, the Pan-Arab Free Trade Area and connections to the Gulf Cooperation Council (GCC) market.

As Oman attracts foreign investment and builds industrial clusters relying on its ports, free trade zones and industrial parks, its value as a stable node and regional platform for Chinese enterprises entering the Middle East market is further highlighted.

The collaboration will initially prioritize Ewpartners' portfolio companies and partners. Ewpartners will be responsible for connecting enterprise needs and providing industry localization experience, while Sohar International Bank will offer financial services such as trade settlement, project financing and local capital management. The two parties said they will bridge the gap through corporate financing, project financing, trade financing, private credit and structured financing, while exploring sectors including logistics, industrial assets and income-generating real estate.

Abdul Wahid Mohamed al Murshidi, CEO of Sohar International Bank, said the partnership reflects a shared vision to enhance financial connectivity between Oman, the broader Gulf region and the rest of Asia. The joint effort will support enterprises, industrial projects and trade flows, reinforcing Oman's role as a regional platform for commercial connectivity, he said.

In April, Sohar International Bank received approval from the Hong Kong Monetary Authority to establish its first overseas representative office, while Ewpartners opened its Hong Kong office in May 2024. In the future, the cooperation between the two parties will extend from Oman to Hong Kong, further connecting with the Chinese market.

Ewpartners has been proactively establishing its presence in Oman since 2023. In 2024, the Oman Investment Authority (OIA), together with the Future Fund Oman, committed $150 million as cornerstone investors in Ewpartners' US dollar fund, focusing on advanced manufacturing, renewable energy and the biomedical industry.

By the end of the same year, Ewpartners invested in the United Solar Polysilicon project in Sohar, Oman, with a total investment of $1.6 billion. In November, Ewpartners established its second Middle East office in Muscat, adjacent to the OIA and other core institutions.