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Muscat Daily
4 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.
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.
