Latest news with #green economy
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.
Yahoo
7 days ago
- Automotive
- Yahoo
LSBF Singapore Campus Contributes Thought Leadership to National Dialogue on Electric Vehicles
SINGAPORE, July 23, 2025 /PRNewswire/ -- Dr. Roy Yap, Head of the School for Business and Law at LSBF Singapore, was featured on Channel 8 News (3 June 2025) in a prime-time segment discussing the evolving electric vehicle (EV) insurance landscape and what it means for risk profiling, consumer protection, and insurers' responsibilities in a green economy. "The rise of EVs in Singapore is not just about infrastructure or adoption. It raises important questions about how we insure, regulate, and protect consumers in a fast-changing landscape," said Dr. Roy Yap. Dr. Roy Yap explored how the shift toward EVs introduces new considerations in risk assessment, policy coverage, and regulatory safeguards, urging stakeholders to rethink legacy systems in light of technological change. Watch the original feature (Channel 8 News, Chinese with subtitles): If you're exploring angles on green mobility, insurance innovation, or talent readiness, media enquiries and interview requests with Dr. Roy Yap are welcome. About London School of Business & Finance (LSBF) The London School of Business & Finance (LSBF), founded in 2003 and a member of the Global University System (GUS), serves over 25,000 students across more than 40 countries. With campuses in key cities including the UK, Singapore, and Malaysia, LSBF has expanded its international footprint, particularly in Asia. LSBF Singapore campus offers over 100 programmes in business, finance, law, hospitality, and technology, and collaborate with reputable universities to provide internationally recognised qualifications. LSBF holds EduTrust certification, partners with organizations like Grab, Deloitte and ISCA, and is an ACCA Approved Learning Partner. In recognition of its future-focused approach to education, LSBF was honoured with the Singapore Business Review's International Business Award in Education for two consecutive years – 2024 and 2025. These accolades reaffirm LSBF's commitment to delivering quality, industry-aligned education that empowers aspiring professionals globally. View original content to download multimedia: SOURCE London School of Business & Finance Singapore Campus Sign in to access your portfolio
Gulf Business
14-07-2025
- Business
- Gulf Business
Food, ESG and sustainability: Chefs, restaurants and hotels are all part of a winning recipe
Image: Getty Images/ For illustrative purposes In the corporate and financial world, there is a tendency to see sustainability and ESG (environment, social and governance) responsibilities and achievements mainly from a valuation perspective, as the popular mantra of 'doing well by doing good' succinctly expresses. This mantra creates a risk that monetary value should be the ultimate measure of success. The current backlash against ESG is an outcome of such short-sighted approach to value. This creates a more serious risk of financialisation, where our financial markets, in pursuit of annually calculated returns, become disconnected from building a green and equitable real economy in the long term. Therefore, the corporate world, policy makers and academia should all work together to create an appropriate set of values that inform valuation calculations in transitioning to a net-zero world and green economy. Food in the equation How does food come into the equation? My academic research has led me to coordinating with leading culinary and hospitality institutions in Hong Kong, Macau and Tokyo on organising events around 'Food, ESG and Sustainability'. There's a good reason for this. Our universal food and agricultural traditions and practices – going back millennia – are reinterpreted by contemporary culinary entrepreneurs and chefs to provide us food for thought in searching for new values for the corporate world in integrating sustainability and ESG in their business models. We have held events in a range of restaurants including those with Michelin Green Star status and hotels meeting the Global Sustainable Tourism Council criteria. As one of the world's fastest growing gastronomy capitals and a leading destination for food tourism, Dubai has an immense repository of culinary knowledge and expertise. And it's growing fast, including 1,200 new restaurant licences across various categories and cuisines in 2024 alone. This reflects Dubai's unique multicultural identity expressed through the culinary arts and is embedded within the deep tradition of hospitality in the Dubai and the UAE. This is a major asset. The culinary, food and hospitality industries are naturally more disposed to discussing value and valuations because humanity's accumulated knowledge and practices over the centuries are central to their business models and financial These events in East Asia have brought together the food and hospitality worlds, businesses and financial institutions to collectively re-imagine and enhance our ESG and sustainability frameworks and policies by learning from successful chefs, restaurants and hotels that have made sustainability and green practices the essence of their business models. In my own academic research, I aim to re-define what is economically valuable in transitioning to a net-zero, socially equitable and sustainable green economy. The United Nation's Food and Agricultural Organisation's But at the same time, these agricultural and culinary practices are a huge reservoir of human value and knowledge systems that go back millennia and define our relationship with nature. So, how can our modern concerns and research related to ESG and sustainability learn from (and enter into a dialogue with) the traditional and modern methods and values in the culinary and hospitality sectors? Successful contemporary culinary entrepreneurs and hospitality businesses with roots in universal traditional knowledge and values can contribute to debates in the corporate and policy worlds on changing the financialised mind-sets regarding ESG and sustainability frameworks. More food for ESG thought? The writer is a senior lecturer (and ex-director for Social Responsibility) at Alliance Manchester Business School, The University of Manchester.
Yahoo
12-07-2025
- Business
- Yahoo
China, ASEAN to submit upgraded free trade deal to leaders in October, says China's foreign minister
SHANGHAI (Reuters) -China and the Association of Southeast Asian Nations have agreed to submit a pact upgrading their free trade areas to their leaders for approval in October, according to China's foreign minister Wang Yi on Saturday. Negotiations about the so-called 3.0 version of the free trade zone started in November 2022 and completed in May, seeking to cover areas such as the digital economy, green economy and supply chain connectivity. China and ASEAN also agreed on a five-year action plan that specifies collaboration between the two sides in over 40 fields in the coming years, according to a statement published by the Ministry of Foreign Affairs, citing Wang's comments after attending the East Asia Summit in Kuala Lumpur on Friday. Wang also said the two sides agreed to strive to complete consultations next year on a code of conduct in the South China Sea - a set of guidelines aiming to manage disputes in the region, where Beijing and several ASEAN members have overlapping maritime claims.
