Latest news with #greenEconomy
Zawya
17 hours ago
- Business
- Zawya
Oman's first copper recycling facility costing $106mln inaugurated
Muscat – Ministry of Commerce, Industry and Investment Promotion (MoCIIP) officially inaugurated Oman's first facility dedicated to recycling copper from mining waste on Monday, marking a significant development in the sultanate's green industrial efforts. The RO41mn plant is located in Suhar. Developed by Green Tech Mining and Services, the facility uses sustainable technologies to process legacy mining waste into copper cathodes. It is the first of its kind in Oman and aims to support the sultanate's transition towards a green economy. The opening was held under the patronage of H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, and attended by senior officials and industry representatives. The project forms part of wider goals under Oman Vision 2040 and the Oman Industrial Strategy 2040, which aim to increase the added value of local resources, localise industries and enhance competitiveness of the sultanate's industrial base. The integrated complex was developed through a partnership between BPG Group and Oman Mining Company, with direct support from MoCIIP. Production is scheduled to be-gin in June 2025, with an initial output of 60 tonnes of copper cathodes per year. The capacity is expected to increase to 12,000 tonnes annually by December 2026, making Oman a regional player in sustainable mining. H E Dr Saleh bin Saeed Masan, Undersecretary for Commerce and Industry in MoCIIP, said the facility represents a 'qualitative leap' in building an innovation-led and sustainable industrial sector. 'This project is a practical example of clean technology in action, and a testament to the government's commitment to integrating sustainability into industrial development,' he said. Khalid bin Salim al Qasabi, Director General of Industry in MoCIIP, stated that the facility supports the ministry's aim to promote industrial projects that meet global environmental and technical standards. Imran Shaikh, Managing Director of Green Tech Mining and Services, said the project is the result of a long-term partnership that began in 2018. 'Launching the first phase of production using renewable energy is a strong reflection of our commitment to sustainability and Oman's green economy.' © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
7 days ago
- Business
- Zawya
Jordan: ASEZA advances water, trade, green projects
AMMAN — The Aqaba Special Economic Zone Authority (ASEZA) board of commissioners on Tuesday approved the registration of the "National Carrier Project" company within the zone. This move allows the company to benefit from the zone's incentives, paving the way for the launch of this "critical" water project, which will desalinate Red Sea water and transport it to the capital, the Jordan News Agency, Petra, reported. The ASEZA took several 'strategic' steps aimed at boosting investment, accelerating national infrastructure efforts, and promoting sustainability in the region. In a bid to strengthen Aqaba's role as a "regional" logistics hub, the board also endorsed new guidelines that will enable companies not formally registered in the zone to engage in "transit" trade. The board of commissioners decided to approve the signing of a memorandum of understanding to facilitate the integrated and sustainable management of textile waste within the ASEZA. The recycling textile waste project aims to promote the green economy and encourage sustainability in the industrial sector. This initiative is part of a broader effort to promote a circular economy and reinforce Aqaba's transformation into an environmentally friendly, green city. The board also approved the "revised" zoning plans for the village of Dabbat Hanout. This decision is part of the authority's vision to regulate and develop Dabbat Hanout village in coordination with relevant entities, addressing existing irregularities to ensure proper land division, consolidation, regulatory amendments, and the removal of violations on state-owned lands. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
CNA
21-05-2025
- Business
- CNA
China, ASEAN complete negotiations on upgraded free trade deal
HONG KONG: China and the Association of Southeast Asian Nations (ASEAN) have completed negotiations to further refine their free trade area to include the digital and green economy and other new industries, China's commerce ministry said on Wednesday (May 21). ASEAN, made up of 10 Southeast Asian countries, is China's largest trading partner, with the value of total trade reaching US$234 billion in the first quarter of 2025, according to Chinese customs data. The so-called 3.0 version of the free trade area will "inject greater certainty into regional and global trade and play a leading and exemplary role for countries to adhere to openness, inclusiveness and win-win cooperation," the statement said. Negotiations began in November 2022, and the agreement covers areas including the digital economy, green economy, and supply chain connectivity, the statement said. The pact will "promote the deep integration of the production and supply chains of both sides", it added. China has intensified engagement with ASEAN since US President Donald Trump announced hefty import tariffs on countries around the world and targeted China with even heavier levies. Some of the levies have since been delayed while China and the US agreed this month to pause some of their tariffs. President Xi Jinping took a three-nation tour of Southeast Asia in April to consolidate ties with some of China's closest neighbours, calling on Asian nations to unite against what he called geopolitical confrontation, unilateralism and protectionism. The formal signing of the trade agreement is expected to take place before the end of the year. The ASEAN-China Free Trade Area was first signed in 2002 and came into force on Jan 1, 2010.
Free Malaysia Today
21-05-2025
- Business
- Free Malaysia Today
Malaysia key to unlocking Asean-China trade potential, say experts
Asean and China recently updated their free trade agreement to include new rules for emerging sectors, including the digital and green economies. PETALING JAYA : Malaysia's special relationship with China presents a unique opportunity to drive better regional economic outcomes, particularly as it leads Asean during a period of global economic uncertainty, analysts say. A recently updated Asean-China free trade agreement (ACFTA) now includes new rules for emerging sectors, including the digital and green economies. Denis Hew. 'It makes a lot of sense for us to upgrade the ACFTA to also cover the digital economy,' said Denis Hew, senior research fellow at the Lee Kuan Yew School of Public Policy. He said that beyond trade, the updated deal would allow for collaboration in digital skills training, science and tech partnerships, and broader innovation ecosystems that support small and medium enterprises in the region. 'China is a leader in emerging technologies. A perfect example is DeepSeek, where China has proved that you don't have to spend billions of dollars in investments for artificial intelligence. You see a lot of innovation happening in China,' said Hew. Tricia Yeoh. University of Nottingham Malaysia's Tricia Yeoh agreed, adding that China could also work with Asean to develop shared AI governance frameworks and regional programmes that mirror Europe's Erasmus+ programme, facilitating the exchange of digital talent between Asean and China. But Yeoh also told FMT more can be done, as China's investment into strengthening Asean's socio-economic architecture would benefit the republic as well. 'Malaysia, as Asean chair, should optimise this by negotiating a stronger, firmer deal that would benefit the entire bloc,' she said, adding that this includes co-financing renewable energy infrastructure and sustainable agriculture, as well as more resilient Asean supply chains. But she also warned that Asean must be prepared to assert itself, especially on sensitive issues like the South China Sea. 'China needs to support Asean centrality when it comes to dealing with the territorial waters issue, since its current actions are undermining trust throughout the region. 'Asean needs to be willing to put this on the table, and secure China's agreement so that both parties can arrive at a good deal,' she said. Yeoh proposed deeper maritime cooperation—including joint early-warning security systems and marine science research—as part of the broader trust-building process. Boosting economic resilience The ACFTA upgrade is one of the major deliverables under Malaysia's chairmanship, alongside the Asean Digital Economy Framework Agreement, set to be finalised later this year. Both Hew and Yeoh stressed that the updated ACFTA fits well into Asean's broader trade strategy, particularly as global trade governance falters. 'Many of the Asean+1 FTAs, including the one with China, were signed over a decade ago. Upgrading them, especially the ACFTA, helps expand regional supply chains and future-proofs Asean's economic integration,' said Hew. Like many other countries, Asean is increasingly turning to regional and bilateral agreements to protect its economic interests. 'We have agency here. We can strengthen our economic resilience through economic cooperation and integration. With the World Trade Organization currently quite dysfunctional, this is the only way to go in terms of facilitating greater trade and investment,' said Hew. The WTO oversees the global multilateral trading system, but its relevance has been questioned due to stalled trade negotiations and US criticism of its dispute settlement mechanism. Emphasising the importance of closer bilateral and regional cooperation, Yeoh said Asean must continue fostering deep ties and relations with other major international blocs such as the European Union, Latin America and Africa. 'These global ties will contribute to greater resilience when and if conflict grows, and there is even deeper economic uncertainty. The benefits are not just in terms of economics and trade, but also security and cultural aspects,' she said. Kuala Lumpur is set to host the upcoming Asean Summit on May 26 and 27. With US-China rivalry intensifying and global trade governance weakening, Asean leaders are expected to focus on strengthening strategic autonomy and economic resilience.
Zawya
20-05-2025
- Business
- Zawya
The pillars for building a sustainable green economy in Oman
In recent years, the global conversation around sustainability has shifted from vision to action. Oman, through its ambitious Vision 2040, is aligning itself with this transformation by laying the foundation for a sustainable, inclusive green economy. While hydrocarbons still account for 68% of government revenue (NCSI 2023), this transition represents both a challenge and an opportunity to redefine economic development through a strategic, holistic lens that addresses Oman's unique conditions - including water scarcity (only 89m³ renewable water per capita annually) and growing energy demand (projected 5% annual increase to 2040). To succeed, Oman must build its green economy on four interdependent pillars, such as transition to renewable energy, sustainable resource management, innovations in the green technology area, and green legislation and international partnership that leverage its natural advantages while addressing its constraints. These pillars are not only aligned with the United Nations Sustainable Development Goals (SDGs) but also rooted in Oman's geographic, environmental, and economic realities. TRANSITION TO RENEWABLE ENERGY Oman's economy has long relied on oil, but the shift toward sustainability demands transformative change. Fortunately, the Sultanate of Oman is rich in untapped renewable resources, particularly solar and wind energy. Pioneering projects like the 'Miraah Solar Plant' in Amal and the 'Dhofar Wind Farm' are already reshaping the country's energy landscape. Developed through a partnership between Petroleum Development Oman (PDO) and GlassPoint, the Miraah plant generates over 1,000 MWth (megawatts thermal) of solar steam, making it one of the world's largest solar thermal facilities. Meanwhile, the Dhofar Wind Farm, a collaboration with Masdar of the UAE, supplies clean power to thousands of homes in the south. Parallel initiatives from industrial energy retrofits to smart metering are enhancing efficiency and minimizing waste, ensuring optimal use of clean energy. Complementing these efforts is Oman's ambitious push into green hydrogen. Through Hydrom, the Sultanate has signed $30 billion worth of Memoranda of Understanding (MoUs) with global players like BP, ACME, and Posco, positioning itself as a future exporter of green fuels to Asia and Europe by 2030–2035. One of the promising green fuels in the energy transition is ammonia, and within the SalalaH2 consortium, Marubeni, OQ Alternative Energy, Samsung C&T, and Dutco are jointly developing a 1 million-ton per year renewable ammonia project in Salalah. Together, these projects from Miraah's solar steam to Dhofar's wind power and Oman's $30 billion green hydrogen drive are not just reducing carbon emissions but future proofing the economy. The target is clear about the cut reliance on oil, diversify the energy mix, and ensure 30% of Oman's energy comes from renewables by 2030, as outlined in the National Energy Strategy. SUSTAINABLE RESOURCE MANAGEMENT Oman is redefining sustainability through circular economy principles that turn waste into resources. The nation now recycles 12% of its 1.6 million annual tons of plastic waste, targeting 30% by 2030, while Be'ah processes 4,500 tons of e-waste yearly. Industrial byproducts like steel slag see 90% reuse rates in Sohar's construction sector. Water innovation shines through projects like Barka IV solar desalination (250,000 m³/day, 20% emissions reduction) and Darsait's wastewater recycling (70% reuse). Agriculture undergoes revolution with Nizwa's smart irrigation (40% water savings) and Barka's hydroponics (8x yield per water unit). The sultanate's comprehensive transition to the utilization of all resources, regardless of their energy potential, serves as a regional model for sustainable resource management. INNOVATION AND DEPLOYMENT OF GREEN TECHNOLOGY Oman's green economy transition is gaining momentum through targeted investments in the innovation and deployment of green technologies. Institutions like Sultan Qaboos University (SQU) have filed 17 green tech patents since 2020, focusing on solar efficiency and hydrogen storage, while GUtech has developed solar panels that retain 92% efficiency in dusty desert conditions. At Innovation Park Muscat, 62 cleantech startups are now active, with over 40% specializing in renewable energy applications. Smart infrastructure is also evolving rapidly. Muscat's AI-driven water management system has reduced losses by 25%, and Duqm is piloting blockchain-based energy trading within its smart grid. The electric vehicle sector is expanding, with 48 public charging stations installed in 2023 and a government target to electrify 30% of its fleet by 2025. Through these integrated efforts, Oman is positioning itself as a regional hub where sustainable technologies are developed, tested, and deployed at scale. GREEN LEGISLATION AND GLOBAL PARTNERSHIPS Oman is cementing its sustainable transition through robust policy frameworks and strategic alliances. The government has implemented mandatory carbon standards for 82 industrial facilities (73% compliance in 2023) and introduced tax incentives for green businesses, driving a 40% increase in ESG-compliant investments since 2022. The Oman Sustainability Centre, established in 2023, now tracks 65+ indicators to align with net-zero targets. Internationally, partnerships with IRENA and UNDP have secured $120 million in climate financing for renewable projects, while local campaigns like "National Green Awareness" engage 200+ schools and 5,000+ businesses in sustainability practices. This dual approach combining legislative muscle with global cooperation positions Oman as a regional model for systemic green transformation. Oman's energy transition presents both unprecedented opportunities and complex challenges. With oil revenues constituting 68% of national income (2023), the pivot to renewables requires careful economic recalibration. The four-pillar approach demonstrates Oman's comprehensive strategy, but true leadership will demand: 1) Effective strategies to attract national and international firms to multiply the investment in renewables (currently at $1.2bn annually) 2) Addressing technical bottlenecks in grid integration and decentralized renewable power and green fuel generation. 3) Developing local expertise through programs like the National Green Skills Initiative. The Sultanate of Oman's unique advantage lies in its ability to leverage hydrocarbon expertise for green hydrogen and ammonia development. As Vision 2040 enters its decisive phase, Oman's energy transformation may well become the GCC's most instructive case study in managed transition. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
