Oman marks Industry Day with focus on global supply chains
Muscat – Oman celebrated its annual Industry Day on Sunday – under the theme 'Oman at the Heart of Global Supply Chains' – reaffirming its commitment to economic diversification and sustainable growth.
The event, organised by the Ministry of Commerce, Industry, and Investment Promotion (MoCIIP), was held under the patronage of H H Sayyid Dr Fahad bin al Julanda al Said, Vice-Chancellor of Sultan Qaboos University.
Attendees included H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion, alongside dignitaries, officials, and business leaders from the industrial sector.
H E Dr Saleh bin Saeed Masan, Undersecretary for Commerce and Industry at MoCIIP, presented the latest data from the National Centre for Statistics and Information, noting that Oman's manufacturing sector grew by 8.5%, reaching RO2.686bn at constant prices by the end of September 2024, compared to the same period in 2023. H E Dr Saleh bin Saeed Masan
He also announced that 100 new industrial projects, with investments totalling nearly RO1.5bn, were launched across sectors such as renewable energy, food and medical industries, construction materials, metals, and plastics.
These projects, spread across Oman's industrial, economic, and free zones, underline the sultanate's growing role as a global manufacturing hub.
The industrial sector continues to make significant contributions to Oman's economy, achieving key milestones under the Industrial Strategy 2040 for the period 2022 and 2023.
It contributed RO3.44bn to the county's Gross Domestic Product (GDP) in 2022 and created approximately 26,000 jobs for Omanis since 2020, reflecting a 79% increase in employment compared to 2020.
Non-oil commodity exports also grew significantly, reaching RO7.5bn by the end of 2023, compared to RO3.4bn in 2020, showcasing the sector's expanding global reach.
During the celebration, three Memoranda of Understanding (MoUs) were signed with different international organisations.
An agreement with the International Centre for Industrial Transformation in Singapore seeks to encourage Omani factories to adopt Fourth Industrial Revolution technologies.
Another MoU with the Gulf Organization for Industrial Consulting focuses on establishing an Advanced Automation Centre, while the third, with the United Nations Industrial Development Organization (UNIDO), proposes to strengthen partnerships in industrial development.
The ministry also launched several initiatives to bolster the industrial sector. The 'Made in Oman' platform was introduced to promote national industries and products.
Additionally, an Advanced Automation Centre is being established to enhance industrial capabilities, while the Certified Assessor Qualification Programme will train professionals to evaluate industrial transformation readiness through a structured certification system.
These efforts align with Oman's long-term vision for a diversified and sustainable economy, reinforcing the nation's growing role as a critical player in global supply chains.
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