3 days ago
Manufacturing sector growth strengthens Oman's in-country value
MUSCAT: Oman's manufacturing sector remains a cornerstone of economic diversification, helping reduce reliance on oil, boost in-country value, and create jobs.
The Ministry of Commerce, Industry and Investment Promotion continues to implement the Industrial Strategy 2040, aiming to raise the sector's contribution to over RO 11.6 billion by 2040, attract RO 40 billion in industrial investments, and focus on green industries and advanced technologies.
Economic indicators show robust performance, with the sector growing 7.45 per cent in 2024 to over RO 3.6 billion at constant prices, representing 9.4 per cent of GDP. Growth continued into 2025, with a 5.4 per cent rise in Q1 compared to Q1 2024, reflecting strong industrial activity and an attractive investment climate.
Non-oil commodity exports increased 7.2 per cent between January and May 2025, reaching RO 2.7 billion. The UAE, Saudi Arabia, and India remained the top markets for Omani goods, underlining their competitiveness in regional and global markets.
Engineer Khalid bin Salim al Qassabi, Director General of Industry.
In 2024, the industrial sector employed more than 57,000 Omanis, highlighting efforts to build local talent and increase Omanisation rates.
Engineer Khalid bin Salim al Qassabi, Director General of Industry, said the sector's strong performance reflects the success of government policies and ministry-led initiatives to support manufacturers, localise supply chains, and offer incentives. He noted that the sector is now a hub for innovation and modern technology, attracting both domestic and foreign investors.
He added that key strategic projects under the Industrial Strategy 2040 include the 'Local Content Plan in the Industrial Sector – Manufacturing,' aimed at increasing local procurement, strengthening supply chains, and supporting SMEs.
Achievements in H1 2025 include the launch of the Advanced Automation Centre for Industry 4.0, delivery of 262 initiatives to 14 partner bodies, cooperation agreements with UNIDO and GOIC, and completion of strategic studies on national industrial development.
In addition, 20 factories were assessed under the Smart Industrial Readiness Index (SIRI), and 55 new factories were granted National Product Identity Certificates. — ONA
