Latest news with #KhalidbinSalimalQassabi
Muscat Daily
3 days ago
- Business
- Muscat Daily
Oman's industrial exports rise 8.6% to RO1.6bn 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.
Observer
4 days ago
- Business
- Observer
Electrical gear drives growth in Oman's exports
MUSCAT: Oman's industrial exports witnessed a notable 8.6 per cent increase during the first quarter of 2025, reaching RO 1.618 billion, compared to RO 1.490 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 per cent of Oman's total exports. 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 per cent, with its exports rising to RO 128 million compared to RO 53 million in Q1 2024. The metal products sector followed with a 14.1 per cent increase in exports, reaching RO 462 million, fueled by rising international demand for high-quality Omani products. Khalid bin Salim al Qassabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), 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. He said that the electrical equipment and machinery sector is experiencing rapid growth due to increasing demand, driven by infrastructure expansion projects —particularly in electricity networks, utilities and new cities — alongside growing investments in renewable energy-related industries. Khaled Salim al Qasabi 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. Jassim bin Saif al Jadidi, Technical Director at the MoCIIP, 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. 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. — ONA
Muscat Daily
28-04-2025
- Business
- Muscat Daily
Oman inks $564mn deal with Chinese firm to set up solar plant
By OUR CORRESPONDENT Muscat – Oman has signed a multi-million dollar agreement with China's JA Solar to establish a large-scale solar cell and panel manufacturing facility in the second phase of Sohar Freezone as part of efforts to boost renewable energy and diversify the economy. The RO217.3mn (US$564mn) project will cover 32.5 hectares and is expected to begin operations in the first quarter of 2026. The plant will have annual production capacity of up to 6GW of solar cells and 3GW of solar modules, positioning Oman as a key player in the clean energy value chain across the region. JA Solar signed agreements to this effect with Invest Oman, Sohar Port and Freezone, and Majis Industrial Services on Monday during the closing ceremony of Advantage Oman Forum, the sultanate's first international investment forum. Khalid bin Salim al Qassabi, Director General of Industry at Ministry of Commerce, Industry and Investment Promotion, said the project supports Oman Industrial Strategy 2040. 'The renewable energy sector is a priority for us due to its potential to create new industrial opportunities, increase contribution of industry to GDP, and diversify the energy mix,' he said. 'This project reflects our vision for developing future industries and promoting value-added investments.' Qassabi added that Oman aims to become a regional hub for renewable and green industries, with the new facility expected to attract investments. Fan Jingchao, General Manager at JA Solar Oman, said, 'Our facility marks a significant advancement in the solar PV supply chain, integrating all key components from polysilicon to modules. The strategic location within Sohar Freezone offers essential logistics and positions us in a rapidly growing renewable energy hub. 'By utilising cutting-edge technologies, we aim to produce high-quality, affordable solar panels that enhance accessibility and attract global investment, while expanding our presence in key markets.' On the occasion, Mohammed al Shizawi, Acting CEO of Sohar Freezone, said, 'In response to high investor demand and with the first phase nearing full occupancy, the ongoing expansion of the freezone is now underway to advance local solar manufacturing, reduce carbon emissions and raise regional sustainability standards. The project will drive industrial diversification, strengthen local supply chains and unlock new downstream investment opportunities critical to Oman's economic growth.' The agreement with JA Solar is seen as a milestone in Oman's efforts to attract foreign direct investment and strengthen its clean energy manufacturing sector.
Observer
28-04-2025
- Business
- Observer
Pacts signed for RO 217m solar cell project at Sohar Freezone
MUSCAT: Leading Chinese solar development company JA Solar signed agreements here yesterday for the establishment of a major plant specializing in the production of solar cells and panels at Sohar Freezone. The project, set on an area of 32.5 hectares within the second phase of the Sohar Freezone, represents a total investment of RO 217.3 million. The pacts were inked with Invest in Oman, Sohar Port and Freezone, and Majis Industrial Services during the Advantage Oman Forum 2025, which concluded in Muscat on April 28, 2025. JA Solar's project is scheduled to commence operations in the first quarter of 2026, with an annual production capacity of 6 gigawatts of solar cells and 3 gigawatts of solar panels. This agreement is expected to advance the goals of Oman Vision 2040 by supporting the country's transition towards renewable energy and economic diversification, while also reflecting growing investor interest in the second phase of the Sohar Freezone. Commenting on the signing, Eng Khalid bin Salim al Qassabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, said: 'The agreements to establish a solar cells and panels manufacturing facility in the Sohar Freezone, with investments totaling RO 217 million, embody the ambitious directions of the Oman Industrial Strategy 2040, which focuses on nurturing future industries and enhancing value-added investments. Renewable energy industries are a top priority within the strategy due to their significant potential to create promising industrial opportunities, support economic diversification, and boost the industrial sector's contribution to the GDP, while strengthening Oman's energy mix.' Al Qassabi further highlighted that the project, once operational in early 2026, will not only contribute to the clean energy value chain but also attract related industries, positioning Oman as a regional hub for renewable energy and green industries. The two-day Advantage Oman Forum, organised by the Ministry of Commerce, Industry and Investment Promotion, through Invest in Oman, brought together more than 250 senior officials, decision-makers, and regional and international investors, serving as a strategic platform that showcased Oman as a promising investment destination. In her closing remarks, Ibtisam bint Ahmed al Faroojiyah, Under-Secretary for Investment Promotion, emphasized that the forum was organized to support the country's economic diversification drive and to attract high-quality investments aligned with Oman's future vision. She added that the forum provided an outstanding platform to connect local and international investors with leading thought leaders and economic experts, facilitating the exchange of ideas and exploration of promising growth opportunities. Al Faroojiyah explained that the forum offered participants extensive opportunities to engage with leaders from both the public and private sectors, discuss key economic trends, and explore the investment map across vital sectors. She noted that the specialized panel discussions aimed to produce actionable, practical recommendations, inspired by regional and global success stories. She concluded by stressing the importance of the forum's outcomes and bilateral meetings, considering them a fundamental pillar in supporting Oman's efforts to achieve economic growth and transformation in line with national priorities. The second day of the forum featured panel discussions with key decision-makers, opportunities to build high-value partnerships, success stories from investors, and sector-specific roundtable meetings focusing on tourism, logistics, mining, food security, renewable energy, and information technology. The forum also enjoyed extensive international media coverage as part of a global promotional campaign positioning Oman as a regional and international investment hub. Renowned CNN journalist Richard Quest moderated two of the forum's main sessions. The 'Advantage Oman' Forum reaffirmed Oman's commitment to enhancing its investment climate in line with the objectives of Vision 2040, further solidifying its role as a regional economic center and a global investment destination.
