Latest news with #OxfordBusinessGroup
Observer
6 hours ago
- Business
- Observer
Oman advances diverse energy portfolio: EDO
MUSCAT, JUNE 4 Oman is set to undergo a major transformation in its energy sector over the next decade, with plans for broad-based expansion across both hydrocarbons and renewable energy sources, according to a key executive of the Sultanate of Oman's pivotal energy industry. Mazin Rashid al Lamki, CEO of Energy Development Oman (EDO)—the wholly government-owned energy sector holding company—said the evolving strategy reflects global energy shifts while maintaining a strong commitment to domestic needs and export potential. In an interview featured in the latest Oman-focused edition of Oxford Business Group (OBG), Al Lamki noted that nationwide assessments of the country's energy resources, currently nearing completion, indicate a 'stronger-than-expected' potential in oil and gas. Together with assessments of Oman's solar and wind capacity, a picture is emerging of a balanced energy mix catering to both domestic demand and exports. 'Overall, we are moving toward a more diversified and integrated energy portfolio. Once it reaches commercial scale, you will see Oman expanding oil, gas, renewables, and green hydrogen. It is not a transition away from hydrocarbons, but a strategic broadening to meet domestic needs and seize export opportunities in an evolving global energy landscape,' Al Lamki stated. In line with this strategic direction, renewable resources are targeted to account for 30% of electricity production by 2030—a figure that could rise to 40–45%, according to current indicators. Hydrocarbon production is also expected to grow in response to sustained global demand, he noted. Al Lamki also emphasized the need for greater investment in the country's energy infrastructure to meet the ambitious renewable energy targets by 2030. 'Oman must expand its electricity infrastructure to meet the 2030 renewable energy target. Today's grid is designed for 11 GW of capacity, but by 2030 we expect that figure to rise to 35–40 GW. This requires investment in transmission and distribution infrastructure,' he said. One key area of focus, he added, is the development of common-use infrastructure to support both green hydrogen and renewable energy projects—a move that would help lower costs and maximize efficiency. 'Public-private partnerships (PPPs) will be key to this process. We are looking at PPP models to support grid expansion, particularly in the northern regions. Existing oil and gas transport infrastructure may be adapted to move hydrogen and desalinated water. Coordinated planning across electricity, water, and hydrogen infrastructure will be essential—and shared investment models will make that feasible,' he explained. When asked about potential sources of foreign direct investment (FDI) to support Oman's energy infrastructure, Al Lamki cited countries in Asia and Europe as particularly promising. 'These countries are seeking reliable, long-term supplies of both clean and conventional energy, and Oman stands out as an appealing partner due to its geopolitical stability, rich resource base, and clear commitment to energy diversification,' he said. Affiliated with the Ministry of Finance, EDO owns 60% of the Block 6 concession operated by Petroleum Development Oman (PDO), 100% of Block 6's non-associated gas concession, and 100% of Hydrogen Oman (Hydrom), the master planner of the Sultanate's green hydrogen industry.
Zawya
20 hours ago
- Business
- Zawya
Economic transformation gains momentum as Oman accelerates diversification goals
Muscat: Oman's strides in economic diversification, sustainability and private sector expansion under Vision 2040 form the core of The Report: Oman 2025, the latest research publication by global advisory and research firm Oxford Business Group (OBG). The report charts the country's progress in reducing its reliance on hydrocarbons, with non-oil sectors now contributing over two-thirds of GDP. Key areas of growth include manufacturing, logistics, tourism and green energy. The launch of the $5.2bn Future Fund Oman is positioned as a major development aimed at attracting targeted foreign direct investment, particularly in high-growth industries. A dedicated chapter on Trade and Investment a first for the publication underscores Oman's efforts to expand its global trade footprint and enhance its appeal to international investors. The report examines new initiatives designed to streamline business procedures, including the establishment of the Invest in Oman lounge, which serves as a one-stop facility to support incoming investment. It also presents data on rising FDI inflows, robust export performance and sector-specific momentum in areas such as green energy, manufacturing and logistics. Oman's expanding network of trade agreements and its increasing engagement in multilateral trade forums are assessed, with particular focus on strategic partnerships, including deepening commercial ties with the US, Saudi Arabia, the UAE and other key regional players. Strategic infrastructure developments, such as the expansion of broadband access and transport networks, are also covered in detail, alongside the role of multiple free trade economic zones such as Sohar, Salalah and Al Mazunah and SEZAD, the special economic zone to Duqm, in strengthening Oman's regional trade position. The report explores fiscal and regulatory reforms introduced to improve the business environment, from the implementation of VAT to labour law amendments. Digital transformation efforts are given significant attention, with insights into the country's strategy to bridge the digital divide and leverage technology to drive competitiveness. The publication also includes an overview of ongoing banking sector consolidation, the growth of Islamic finance and the measures being taken to ensure monetary stability. The Report: Oman 2025 contains contributions and perspectives from high-level public and private sector figures. Notable interviewees featured in the report include HE Qais Al Yousef, Minister Of Commerce, Industry and Investment Promotion; HE Abdulsalam Al Murshidi, President Oman Investment Authority; HE Dr Khamis Al Jabri, Chairman, Oman Vision 2040 Implementation Follow-up Unit; HE Eng. Said Al Maawali, Minister of Transport and ITC, HE Salim M. Almahruqi, Minister of Heritage and Tourism , HE Dr Saud Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources, HE Shaikh Abdullah Al Salmi, Executive President, Financial Services Authority; and Dr Aflah Al Hadhrami, Managing Director, Petroleum Development Oman. Commenting as part of his interview with OBG, Qais Al Yousef, Minister of Commerce, Industry & Investment Promotion said that the sultanate's sustained push to deliver on climate goals was contributing to greater macroeconomic stability and investor interest. 'It is crucial Oman's trade system can tackle the issues of climate change and sustainability, to avert fragmentation, safeguard trade routes and maintain a steady and predictable business landscape.' Dana Carmen Agarbicean, OBG's Country Director for Oman, said the findings reinforce the importance of collaboration across public and private sectors in delivering economic transformation. 'Our coverage reflects a deepening confidence in Oman's development trajectory. Interviews and analysis in this edition illustrate how policy implementation, fiscal discipline and new investment frameworks are supporting long-term, broad-based growth,' she said. The Report: Oman 2025 has been produced in partnership with the Ministry of Commerce, Industry and Investment Promotion, InvestOman, and Ominvest. The publication is the result of a year of field research conducted by a team of analysts from Oxford Business Group. It provides a comprehensive analysis of the sultanate's economic performance and outlook, and is available in print and online: About Oxford Business Group Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world's fastest-growing markets, termed The Yellow Slice, in reference to OBG's corporate colour. Through its range of products – Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions. OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv's (previously Thomson Reuters) Eikon subscribers, and more.
Arabian Business
06-05-2025
- Business
- Arabian Business
Ajman emerges as key UAE investment hub with free zones and SME growth, says report
The emirate of Ajman continues to establish itself as a competitive investment destination within the UAE's broader economy, an industry report said. Its strategic proximity to Dubai enables seamless connectivity to global markets while maintaining lower operational costs, making it an attractive base for small and medium-sized enterprises (SMEs) and high-growth industries, said the report, titled 'Ajman 2025', by Oxford Business Group (OBG). 'The emirate has demonstrated resilience and growth across key sectors, particularly in manufacturing, real estate, and logistics, supported by initiatives such as the Ajman Free Zone and 100 per cent foreign ownership laws,' OBG said. It said infrastructure developments in transport and logistics, alongside the construction of mixed-use real estate projects, underline the Ajman government's commitment to diversification and economic expansion. The streamlining of trade practices through digital solutions and regulatory enhancements is further strengthening the emirate's business environment, while increased integration of the industrial sector into global supply chains is positioning it as a competitive player in international trade, the report said. Additionally, the emirate is leveraging its strategic location to expand its cultural and tourism offerings, reinforcing its appeal as a business and lifestyle destination. Jana Treeck, OBG's Managing Director for the Middle East, said Ajman's strategic approach to economic diversification is reinforcing its status as a key investment destination. 'Ajman's proactive economic policies, combined with regulatory reforms and infrastructure development, are enhancing the emirate's attractiveness to investors. 'Its efforts to modernise industries and integrate digital solutions reflect a broader commitment to fostering sustainable and inclusive economic growth,' he said. The report, developed in collaboration with the Ajman Executive Council and featuring exclusive insights from key policymakers and business leaders, covers a wide range of sectors, including macroeconomics, infrastructure, finance, manufacturing, and ICT.
Zawya
06-05-2025
- Business
- Zawya
Ajman an attractive base for SMEs, industries: report
The emirate of Ajman continues to establish itself as a competitive investment destination within the UAE's broader economy, says a new report. Its strategic proximity to Dubai enables seamless connectivity to global markets while maintaining lower operational costs, making it an attractive base for small and medium-sized enterprises (SMEs) and high-growth industries, says The Report: Ajman 2025 by Oxford Business Group (OBG). Developed in collaboration with the Ajman Executive Council, the report says Ajman's dynamic economic expansion is bolstered by a diversified industrial base and strategic location. The Report: Ajman 2025 offers a comprehensive analysis of the emirate's investment landscape and long-term growth strategies. The emirate has demonstrated resilience and growth across key sectors, particularly in manufacturing, real estate, and logistics, supported by initiatives such as the Ajman Free Zone and 100% foreign ownership laws. Infrastructure developments in transport and logistics, alongside the construction of mixed-use real estate projects, underline the government's commitment to diversification and economic expansion. Ajman's economic vision is driven by policies aimed at regulatory efficiency, industrial growth, and the development of priority sectors such as health care and education. The emirate's long-term strategy aligns with Ajman Vision 2030, balancing economic progress with tradition to ensure sustainable growth. The streamlining of trade practices through digital solutions and regulatory enhancements is further strengthening its business environment, while increased integration of the industrial sector into global supply chains is positioning Ajman as a competitive player in international trade. Additionally, Ajman is leveraging its strategic location to expand its cultural and tourism offerings, reinforcing its appeal as a business and lifestyle destination. Jana Treeck, OBG's Managing Director for the Middle East, noted that Ajman's strategic approach to economic diversification is reinforcing its status as a key investment destination. 'Ajman's proactive economic policies, combined with regulatory reforms and infrastructure development, are enhancing the emirate's attractiveness to investors. Its efforts to modernise industries and integrate digital solutions reflect a broader commitment to fostering sustainable and inclusive economic growth,' Treeck said. Oliver Cornock, OBG's Editor-in-Chief, highlighted the broader implications of Ajman's evolving economic landscape. 'Ajman's ability to balance economic expansion with regulatory enhancements and industrial modernisation is shaping a business-friendly environment that is well positioned for long-term growth. As the emirate deepens its integration with global markets, its competitive advantages are expected to further strengthen investment prospects,' Cornock commented. The report features exclusive insights from key policymakers and business leaders, including Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council; Saif Al Suwaidi, Director-General, Ajman Department of Economic Development; Sheikh Sultan bin Mohammed Al Nuaimi, Director-General, Department of Ports and Customs Ajman; Ismail Al Naqi, Director-General, Free Zones Authority of Ajman; and Mahmood Khaleel Alhashmi, Director-General, Ajman Tourism Development Department. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
05-05-2025
- Business
- Trade Arabia
Ajman an attractive base for SMEs, industries: report
The emirate of Ajman continues to establish itself as a competitive investment destination within the UAE's broader economy, says a new report. Its strategic proximity to Dubai enables seamless connectivity to global markets while maintaining lower operational costs, making it an attractive base for small and medium-sized enterprises (SMEs) and high-growth industries, says The Report: Ajman 2025 by Oxford Business Group (OBG). Developed in collaboration with the Ajman Executive Council, the report says Ajman's dynamic economic expansion is bolstered by a diversified industrial base and strategic location. The Report: Ajman 2025 offers a comprehensive analysis of the emirate's investment landscape and long-term growth strategies. The emirate has demonstrated resilience and growth across key sectors, particularly in manufacturing, real estate, and logistics, supported by initiatives such as the Ajman Free Zone and 100% foreign ownership laws. Infrastructure developments in transport and logistics, alongside the construction of mixed-use real estate projects, underline the government's commitment to diversification and economic expansion. Ajman's economic vision is driven by policies aimed at regulatory efficiency, industrial growth, and the development of priority sectors such as health care and education. The emirate's long-term strategy aligns with Ajman Vision 2030, balancing economic progress with tradition to ensure sustainable growth. The streamlining of trade practices through digital solutions and regulatory enhancements is further strengthening its business environment, while increased integration of the industrial sector into global supply chains is positioning Ajman as a competitive player in international trade. Additionally, Ajman is leveraging its strategic location to expand its cultural and tourism offerings, reinforcing its appeal as a business and lifestyle destination. Jana Treeck, OBG's Managing Director for the Middle East, noted that Ajman's strategic approach to economic diversification is reinforcing its status as a key investment destination. 'Ajman's proactive economic policies, combined with regulatory reforms and infrastructure development, are enhancing the emirate's attractiveness to investors. Its efforts to modernise industries and integrate digital solutions reflect a broader commitment to fostering sustainable and inclusive economic growth,' Treeck said. Oliver Cornock, OBG's Editor-in-Chief, highlighted the broader implications of Ajman's evolving economic landscape. 'Ajman's ability to balance economic expansion with regulatory enhancements and industrial modernisation is shaping a business-friendly environment that is well positioned for long-term growth. As the emirate deepens its integration with global markets, its competitive advantages are expected to further strengthen investment prospects,' Cornock commented.
