Latest news with #foreign direct investments
Zawya
2 days ago
- Business
- Zawya
FDI in Oman's industrial sector grows by 27.5%
Muscat: The industrial sector in Oman witnessed significant growth in foreign direct investments during the first quarter of 2025, with a growth rate of 27.5 percent compared to the same period last year, bringing the total value to OMR 2.749 billion. The industrial sector topped the non-oil sectors in terms of targeted investment volume, with investments concentrated in promising sectors, most notably: renewable energy technology manufacturing, as part of the Sultanate of Oman's drive towards a green economy. The industrial sector in the Sultanate of Oman continues to grow as reflected in the effectiveness of government policies aimed at enhancing economic diversification and increasing its contribution to the gross domestic product (GDP), within the framework of Oman Vision 2040, which has placed industry among its priorities. The industrial sector witnessed positive and tangible developments in several activities during the first half of 2025. Expansion in productivity and increased regional and international demand contributed to the growth of a number of vital industrial sectors. Dr. Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, said that the positive results achieved by the industrial sector are a direct reflection of the integration of national policies and incentive plans aimed at building a flexible and competitive production base through the implementation of the programmes and initiatives of the Industrial Strategy 2040, enabling quality investments, improving the quality of services in industrial and economic cities, and facilitating procedures for investors. He added that the industrial sector is a driver of economic growth, a lever for innovation, a recruiter of national talent, a promoter of food and medicine security, and an expander of local value chains in the national economy. For his part, Eng. Khalid bin Salim Al Qassabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, explained that industrial performance during the first half of this year clearly demonstrates the ability of Omani factories to achieve advanced growth rates and expand production and operations, despite regional and international challenges related to market and supply chain fluctuations. He stated that this positive performance was a direct result of the integrated efforts between the public and private sectors, benefiting from support and incentive packages, and reducing service costs. This was reflected in the increased rates of localising projects within industrial cities and free zones, and achieving advanced Omanisation rates in a number of industrial activities. He stressed that the Ministry of Commerce, Industry and Investment Promotion continues to support initiatives that enhance local added value and expand the national production base, in line with the objectives of the industrial strategy and "Oman Vision 2040" aimed at building a diversified and sustainable economy. For his part, Eng. Jassim bin Saif Al Jadidi, Technical Director of the Office of the Undersecretary for Commerce and Industry, emphasised that the industrial sector enjoys investor confidence, thanks to the continuous improvement of the business environment, the stimulating legislative structure, and the promising opportunities it offers in a number of industrial sectors through the development of new incentive policies, including: providing industrial financing, developing logistics services, localising advanced technologies, and stimulating international partnerships. The minerals sector is witnessing an expansion in production and export chains. The manufacturing sector witnessed a significant improvement in its performance during the first half of this year, driven by strong growth in the petrochemical and electrical sectors. In the building materials and construction sector, the iron and aluminum industries continued to achieve positive results and steady growth, while cement companies began to show signs of improved performance and reduced losses. Tile and ceramic factories showed signs of recovery, while glass companies still face operational challenges that the Ministry is working to address as part of its plans to develop the manufacturing industries. In the food industries sector, milling, soft drinks, and refreshment companies led the recovery scene, achieving significant profits thanks to improved operational efficiency and an expanded consumer base locally and regionally. In terms of foreign trade, Omani non-oil exports grew by 7.2 percent during the period from January to May 2025, reaching OMR 2.7 billion, reflecting the strength of Omani products in foreign markets. The United Arab Emirates topped the list of countries importing Omani products, with OMR485 million, an increase of 22.9 percent, followed by the Kingdom of Saudi Arabia with OMR451 million, an increase of 34.9 percent, and then the Republic of India with OMR280 million, an increase of 38.9 percent. These results reflect the diversity of the trading partner base, underscoring the importance of activating trade promotion tools and enhancing the industrial sector's readiness to enter new markets, particularly in Asia and Africa, which represent promising markets for Omani products. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
3 days ago
- Business
- Times of Oman
FDI in Oman's industrial sector grows by 27.5%
Muscat: The industrial sector in Oman witnessed significant growth in foreign direct investments during the first quarter of 2025, with a growth rate of 27.5 percent compared to the same period last year, bringing the total value to OMR 2.749 billion. The industrial sector topped the non-oil sectors in terms of targeted investment volume, with investments concentrated in promising sectors, most notably: renewable energy technology manufacturing, as part of the Sultanate of Oman's drive towards a green economy. The industrial sector in the Sultanate of Oman continues to grow as reflected in the effectiveness of government policies aimed at enhancing economic diversification and increasing its contribution to the gross domestic product (GDP), within the framework of Oman Vision 2040, which has placed industry among its priorities. The industrial sector witnessed positive and tangible developments in several activities during the first half of 2025. Expansion in productivity and increased regional and international demand contributed to the growth of a number of vital industrial sectors. Dr. Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, said that the positive results achieved by the industrial sector are a direct reflection of the integration of national policies and incentive plans aimed at building a flexible and competitive production base through the implementation of the programmes and initiatives of the Industrial Strategy 2040, enabling quality investments, improving the quality of services in industrial and economic cities, and facilitating procedures for investors. He added that the industrial sector is a driver of economic growth, a lever for innovation, a recruiter of national talent, a promoter of food and medicine security, and an expander of local value chains in the national economy. For his part, Eng. Khalid bin Salim Al Qassabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, explained that industrial performance during the first half of this year clearly demonstrates the ability of Omani factories to achieve advanced growth rates and expand production and operations, despite regional and international challenges related to market and supply chain fluctuations. He stated that this positive performance was a direct result of the integrated efforts between the public and private sectors, benefiting from support and incentive packages, and reducing service costs. This was reflected in the increased rates of localising projects within industrial cities and free zones, and achieving advanced Omanisation rates in a number of industrial activities. He stressed that the Ministry of Commerce, Industry and Investment Promotion continues to support initiatives that enhance local added value and expand the national production base, in line with the objectives of the industrial strategy and "Oman Vision 2040" aimed at building a diversified and sustainable economy. For his part, Eng. Jassim bin Saif Al Jadidi, Technical Director of the Office of the Undersecretary for Commerce and Industry, emphasised that the industrial sector enjoys investor confidence, thanks to the continuous improvement of the business environment, the stimulating legislative structure, and the promising opportunities it offers in a number of industrial sectors through the development of new incentive policies, including: providing industrial financing, developing logistics services, localising advanced technologies, and stimulating international partnerships. The minerals sector is witnessing an expansion in production and export chains. The manufacturing sector witnessed a significant improvement in its performance during the first half of this year, driven by strong growth in the petrochemical and electrical sectors. In the building materials and construction sector, the iron and aluminum industries continued to achieve positive results and steady growth, while cement companies began to show signs of improved performance and reduced losses. Tile and ceramic factories showed signs of recovery, while glass companies still face operational challenges that the Ministry is working to address as part of its plans to develop the manufacturing industries. In the food industries sector, milling, soft drinks, and refreshment companies led the recovery scene, achieving significant profits thanks to improved operational efficiency and an expanded consumer base locally and regionally. In terms of foreign trade, Omani non-oil exports grew by 7.2 percent during the period from January to May 2025, reaching OMR 2.7 billion, reflecting the strength of Omani products in foreign markets. The United Arab Emirates topped the list of countries importing Omani products, with OMR485 million, an increase of 22.9 percent, followed by the Kingdom of Saudi Arabia with OMR451 million, an increase of 34.9 percent, and then the Republic of India with OMR280 million, an increase of 38.9 percent. These results reflect the diversity of the trading partner base, underscoring the importance of activating trade promotion tools and enhancing the industrial sector's readiness to enter new markets, particularly in Asia and Africa, which represent promising markets for Omani products.
