Latest news with #KhalidAlQassabi
Zawya
3 days ago
- Business
- Zawya
Oman's industrial exports rise 8.6% to $2.5bln in Q1
Muscat – Oman's industrial sector exports recorded a notable increase of 8.6% in the first quarter of 2025, reaching RO1.618bn, compared to RO1.49bn 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, indicating the growing contribution of the industrial sector to the national economy and its role in promoting economic diversification. This growth is attributed to strong performances across several industrial segments, particularly the electrical machinery and equipment manufacturing sector, which posted an exceptional 141% increase in export value. Exports from this sector rose to RO128mn, compared to RO53mn in Q1 2024, the NCSI data showed. This was followed by metal products, with exports increasing by 14.1% to RO462mn, supported by growing international demand for high-quality Omani goods. In a statement to the Oman News Agency, Eng Khalid bin Salim al Qassabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, said that the positive results reflect the strength and diversity of Oman's industrial base. He noted that the ministry continues to implement integrated industrial policies aimed at enhancing the competitiveness of Omani products in regional and international markets, while driving export growth. 'The electrical machinery and equipment sector is experiencing rapid growth, spurred by rising demand locally and regionally, and linked to the expansion of infrastructure projects, including electricity networks, public utilities, and the development of new cities. This growth is also supported by increased investment in industries related to renewable energy,' said Qassabi. He emphasised that the sector is a priority under Oman's Industrial Strategy 2040, due to its role in developing supply chains, enhancing the added value of the national economy, supporting entrepreneurship, and facilitating the localisation of advanced technologies. Eng Jassim bin Saif al Jadidi, Technical Director at the Office of the Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, stressed the continuation of efforts to expand the presence of Omani products in both regional and global markets. This goal is central to the Industrial Strategy and a key pillar of Oman Vision 2040. He explained that these efforts involve launching a series of qualitative initiatives aimed at improving the efficiency and quality of national products. This includes supporting local manufacturers in meeting the highest technical standards and international specifications, thereby enhancing competitiveness and consumer confidence in Omani goods. He added that the ministry, in coordination with relevant authorities, is working to open new markets for Omani exports by activating regional and international trade agreements, participating in exhibitions and trade missions, and providing incentives and support for Omani exporters. The ministry is also encouraging the growth of knowledge-based industries and the adoption of advanced technologies, including artificial intelligence and Fourth Industrial Revolution tools. These technologies play a crucial role in improving product quality, reducing costs, and ensuring sustainable industrial growth. They also contribute significantly to supporting the national economy, creating quality employment opportunities for Omani nationals, and reinforcing the sultanate's position as a promising industrial and logistics hub in the region. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Arab News
3 days ago
- Business
- Arab News
Oman's electrical machinery exports surge 141% in Q1 as industrial policy drives growth
RIYADH: Exports of electrical machinery and equipment from Oman surged by 141 percent in the first quarter of 2025, reaching 128 million Omani rials ($332.8 million) compared to 53 million rials in the same period of 2024, according to official data. The strong performance of the sector highlights its growing importance to the country's industrial base and export competitiveness, the National Center for Statistics and Information revealed. Officials have linked the sharp rise to rising demand across domestic and regional markets, driven by ongoing infrastructure expansion and increased investment in renewable energy projects. In figures released in May, the Oman News Agency revealed that the country's non-oil exports rose by 8.6 percent year on year in the first quarter of 2025, reaching 1.618 billion rials. Commenting on the latest release, Khalid Al-Qassabi, director general of Industry at the Ministry of Commerce, Industry and Investment Promotion, stated that the positive results reflect the resilience and diversity of Oman's industrial base, according to a report by the ONA. 'He noted that the ministry continues to implement integrated industrial policies aimed at enhancing the position of national products in regional and international markets and driving industrial exports to higher levels,' the news agency added. Al-Qasabi said that growth in the electrical equipment sector is being supported by major infrastructure developments, such as the expansion of electricity networks, utilities, and new cities. He also pointed to rising interest in renewable energy technologies, which is boosting demand for domestically manufactured components. The sector is considered a strategic priority under Oman's Industrial Strategy 2040, with the potential to enhance supply chains, increase national value-added, foster entrepreneurship, and support the localization of advanced technologies. Jasim Al-Jadeedi, technical director in the Office of the Undersecretary for Commerce and Industry, reiterated the ministry's focus on expanding the global presence of Omani industrial goods. He said this is a central objective of the country's industrial strategy and a key component of its economic diversification agenda under Oman Vision 2040. Al-Jadheedi explained that several initiatives are underway to improve product quality and competitiveness, including support for manufacturers in meeting international technical standards. He added that the government is working with relevant stakeholders to unlock new export markets through trade agreements, international exhibitions, and trade missions, while offering targeted incentives to local exporters. The technical director also emphasized the importance of adopting advanced technologies, including artificial intelligence and Industry 4.0 tools, to enhance efficiency, reduce costs, and achieve sustainable industrial growth. This sectoral expansion comes amid broader momentum in the industrial economy. Total credit extended by Oman's banking sector increased by 9 percent year-on-year to 33.6 billion rials by the end of April, indicating continued strength in financing for the private sector and industrial enterprises. Non-oil industrial exports overall rose by 8.6 percent during the first quarter to 1.618 billion rials, up from 1.49 billion rials a year earlier. Industrial goods accounted for 28 percent of total exports during the period, led by electrical machinery and mineral products, the latter of which recorded a 14.1 percent rise in exports to 462 million rials.
