Muscat: The Sultanate of Oman, through its Ministry of Commerce, Industry and Investment Promotion, celebrated Oman Industry Day, highlighting the theme ‘Oman at the Centre of Global Supply Chains’. This annual event, held on February 9, underscores the strategic importance of the industrial sector in diversifying the economy and fostering growth.
According to Oman News Agency, the event was graced by HH Sayyid Dr. Fahad bin Al Julanda Al Said, Vice Chancellor of Sultan Qaboos University, and attended by prominent figures, including the Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed Al Yousef. The gathering included officials, businessmen, and representatives from Omani companies, emphasizing the collaborative effort to strengthen Oman’s industrial landscape.
Dr. Saleh bin Said Masan of the Ministry of Commerce, Industry and Investment Promotion shared insights from the National Center for Statistics and Information, noting an 8.5% increase in the converting sector’s output, reaching RO 2.686 billion by September 2024. He highlighted Oman’s third-place ranking in the Arab world and 53rd globally in the Global Competitive Industrial Performance Report by UNIDO, reflecting enhanced industrial competitiveness.
Dr. Masan announced 100 new industrial projects with nearly RO 1.5 billion in investments across renewable energy, food, medical industries, and more, spread across several zones. He emphasized the achievement of the Industrial Strategy 2040 targets, with the converting industries’ contribution to GDP set at RO 3.44 billion for 2022, and a 19% growth from 2020 to 2023, creating 26,000 job opportunities for Omanis.
Non-oil commodity exports also saw growth, reaching RO 7.5 billion by the end of 2023, up from RO 3.4 billion in 2020. Faisal bin Abdullah Al Rowas from the Oman Chamber of Commerce and Industry stressed the sector’s potential for growth and empowerment, highlighting the importance of competitive Omani products in local and foreign markets.
During the ceremony, three memoranda of understanding were signed, focusing on adopting Fourth Industrial Revolution technologies, establishing a center for advanced automation, and forming a strategic partnership with UNIDO. The Ministry also launched initiatives to promote Omani industries, digital transformation, and certifications to support industrial growth.
Presentations by various industry leaders highlighted achievements and strategies in supply chain improvement and industrial transformation. Discussions on local content enhancement and supply chain strengthening were held, emphasizing cooperation among stakeholders for sustainable growth.
Gerd Muller from UNIDO praised Oman’s efforts in sustainable manufacturing, underscoring its role as a regional model. Jesmond Hong of the International Centre for Industrial Transformation expressed commitment to collaborating with Oman to drive industrial progress.