Latest news with #KhaledSalimAlQasabi
Economy ME
2 days ago
- Business
- Economy ME
Oman's industrial exports surge 8.6 percent to $4.2 billion in Q1 2025 on electrical equipment manufacturing
Oman's industrial exports witnessed a remarkable 8.6 percent increase during the first quarter of 2025, reaching OMR1.618 billion ($4.2 billion), in comparison to OMR1.490 billion ($3.9 billion) during the same timeframe in 2024, according to recent data released by the National Centre for Statistics and Information . Industrial exports constituted 28 percent of Oman's total exports, highlighting the increasing contribution of the industrial sector to the national economy and the country's efforts toward economic diversification. This growth was propelled by strong performances across various industrial sectors, particularly the electrical equipment and machinery manufacturing sector, which recorded an outstanding growth rate of 141 percent, with its exports surging to OMR128 million compared to OMR53 million in Q1 2024. The metal products sector followed closely, posting a 14.1 percent rise in exports, reaching OMR462 million, driven by the growing international demand for high-quality Omani products. Enhancing competitiveness of Omani products Eng. Khaled Salim Al Qasabi, director general of Industry at the Ministry of Commerce, Industry, and Investment Promotion, remarked that these favorable outcomes reflect the robustness and diversity of Oman's industrial sector. He stressed the ministry's ongoing implementation of integrated industrial policies designed to enhance the competitiveness of Omani products in both regional and global markets while bolstering industrial exports. In statements to Oman News Agency (ONA), he noted that the electrical equipment and machinery sector is witnessing rapid growth due to escalating local and regional demand, fueled by infrastructure expansion projects—especially in electricity networks, utilities, and new cities—alongside increasing investments in renewable energy-related industries. He affirmed that this sector is prioritized under Oman's Industrial Strategy 2040, given its significance in developing supply chains, enhancing value-added economic activities, supporting entrepreneurship, and localizing advanced technologies. Read more: Oman posts $6.7 billion trade surplus, merchandise exports reach $16.88 billion by end of March 2024 Boosting product quality and efficiency In turn, Eng. Jassim Saif Al Jedidi, technical director at the Ministry of Commerce, Industry, and Investment Promotion, underscored ongoing efforts to bolster the presence of Omani products in regional and global markets—a central objective of the industrial strategy and a cornerstone of economic diversification under Oman Vision 2040. Speaking to ONA, he elaborated that these initiatives encompass qualitative efforts to improve the efficiency and quality of national products by aiding local manufacturers in complying with the highest technical standards and international certifications. This not only enhances competitiveness but also boosts consumer confidence in Omani products. He added that the ministry, in collaboration with relevant entities, is striving to open new markets for Omani exports by activating regional and international trade agreements, participating in trade exhibitions and missions, and providing incentives and facilities for Omani exporters. Furthermore, the ministry is promoting knowledge-based and advanced technology industries, including artificial intelligence and Fourth Industrial Revolution technologies, which are pivotal in enhancing product quality, minimizing costs, and achieving sustainable industrial growth. These initiatives contribute to fortifying the national economy, creating quality job opportunities for Omani talent, and positioning Oman as an emerging industrial and logistics hub in the region.
Times of Oman
3 days ago
- Business
- Times of Oman
Electrical equipment manufacturing sector drives growth in Oman's industrial exports
Muscat: Oman's industrial exports witnessed a notable 8.6% increase during the first quarter of 2025, reaching OMR1.618 billion, compared to OMR1.490 billion during the same period in 2024, according to data released by the National Centre for Statistics and Information (NCSI). Industrial exports accounted for 28% of Oman's total exports, underscoring the growing contribution of the industrial sector to the national economy and the country's economic diversification efforts. This growth was driven by strong performance across several industrial sectors, most notably the electrical equipment and machinery manufacturing sector, which recorded exceptional growth of 141%, with its exports rising to OMR128 million compared to OMR53 million in Q1 2024. The metal products sector followed with a 14.1% increase in exports, reaching OMR462 million, fuelled by rising international demand for high-quality Omani products. Eng. Khaled Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry, and Investment Promotion, stated that these positive results reflect the strength and diversity of Oman's industrial sector. He emphasised the ministry's ongoing implementation of integrated industrial policies aimed at enhancing the competitiveness of Omani products in regional and global markets while boosting industrial exports. In remarks to Oman News Agency (ONA), he noted that the electrical equipment and machinery sector is experiencing rapid growth due to increasing local and regional demand, driven by infrastructure expansion projects—particularly in electricity networks, utilities, and new cities—alongside growing investments in renewable energy-related industries. He affirmed that this sector is a priority under Oman's Industrial Strategy 2040, given its role in developing supply chains, enhancing value-added economic activities, supporting entrepreneurship, and localising advanced technologies. Eng. Jassim Saif Al Jedidi, Technical Director at the Ministry of Commerce, Industry, and Investment Promotion, highlighted ongoing efforts to strengthen the presence of Omani products in regional and global markets—a key objective of the industrial strategy and a pillar of economic diversification under Oman Vision 2040. Speaking to ONA, he explained that these efforts include launching qualitative initiatives to improve the efficiency and quality of national products by supporting local manufacturers in adhering to the highest technical standards and international certifications. This enhances competitiveness and consumer confidence in Omani products. He added that the ministry, in coordination with relevant entities, is working to open new markets for Omani exports by activating regional and international trade agreements, participating in trade exhibitions and missions, and providing incentives and facilities for Omani exporters. Additionally, the ministry is promoting knowledge-based and advanced technology industries, including artificial intelligence and Fourth Industrial Revolution technologies, which play a pivotal role in improving product quality, reducing costs, and achieving sustainable industrial growth. These efforts contribute to strengthening the national economy, generating quality job opportunities for Omani talent, and positioning Oman as a promising industrial and logistics hub in the region.
