National Industries Development Committee discusses updates of industrial sector
The meeting was chaired by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, and attended by representatives of public and private sector establishments concerned.
The meeting also studied options to enhance the competitiveness of national products, developments in allocating gas quotas to industrial projects, and a decision to ban the export of some raw materials and industrial waste that could be recycled. It also reviewed the mandatory list of local products and services and listened to proposals submitted by the panel members on ways to promote industrial projects in the Sultanate of Oman.
The committee reviewed the outcome of a comprehensive study on protecting national industries, the experiences of advanced industrial countries and the challenges facing the industrial sector in Oman and ways to develop it in accordance with the best international practices.
The committee made a number of recommendations, including the need to provide incentives to factories as part of an envisaged automation initiative, how to benefit from financing programmes and proposals for quality industrial projects.
The committee stressed the importance of enhancing industrial investments, supporting local products in government tenders, providing incentives for emerging factories, coordination among the departments concerned to ensure the realization of Oman 2040 Industrial Strategy and means of enhancing the role of the industrial sector's contribution to the national economy.
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