Latest news with #localcontent
Times of Oman
6 days ago
- Business
- Times of Oman
Commerce Ministry hails Chinese investment in Oman
Salalah: The Ministry of Commerce, Industry and Investment Promotion reaffirmed its commitment for the support of the Chinese investments in the Sultanate of Oman. The ministry valued the role of Chinese companies in national priorities, mainly in the field of manufacturing and local content during the meeting of Dr Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, with a number of Chinese investors. The meeting coincided with the third session of the Omani-Chinese Friendship Forum 2025 , held in the Wilayat of Salalah in Dhofar Governorate. The meeting discussed a number of enquiries submitted by the representatives of the mega Chinese companies operating in the Sultanate of Oman, which dealt with the available investment opportunities, the mechanisms of boosting the value of the local content and the facilities and incentives offered in the promising economic sectors. Dr. Saleh bin Said Masan said that the efforts for boosting the local content take into account the balance between increasing the percentage of local participation and the efficiency of the projects and achievement of the investment feasibility. He also pointed to efforts for facilitating the establishment of foreign companies, mainly with the launch of Invest in Oman Centre as a common outlet for offering the investment services, including issuance of the licences, the link with the government departments and availability of translation and technical support for Chinese investors. He said that the government offers a number of incentives including the reduction of basic services, tax and customs exemptions and flexible facilities related to employment of foreign manpower as per the type of activity. He said that there are promising investment opportunities in a number of sectors which witness increasing local demand such as building materials, food industries, medical equipment and renewable energy technologies among others. On the legal procedures for cancellation or transfer of the shares of partners in the joint stock companies when they are outside Oman, he said that the law allows the use of official attested authorisations for this purpose. The authorisations could be issued in China attested by Oman Embassy in China and through the Investors Services Portal in case of implementation of some online procedures, he added.
Zawya
31-07-2025
- Business
- Zawya
Nigeria: RMDB President harps on domestic capital mobilisation for critical sector development
The President and Chief Executive Officer of the Regional Maritime Development Bank (RMDB), Mr. Adeniran Aderogba, has emphasised the urgent need for the mobilisation of domestic capital to support the development of Africa's critical sectors. Speaking recently at the African Natural Resources and Energy Investment Summit (AFNIS 2025), held from 15 to 17 July at the State House Conference Centre, Presidential Villa, Abuja, Mr. Aderogba highlighted the strategic role of financial institutions like the RMDB in advancing sustainable development across the continent. The summit, themed 'Harnessing Local Content for Sustainable Development', convened senior government officials, industry leaders, investors, and development partners from Africa and beyond. Discussions centred on leveraging local content development as a cornerstone of economic growth, with a focus on building inclusive, resilient and future-facing resource governance frameworks. In remarks made on the sidelines of the event, Aderogba underscored the critical importance of shifting the financing narrative from dependence on foreign capital to a more deliberate mobilisation of domestic financial resources. He said, 'If we are serious about sustainable development, we must stop relying solely on external capital. Africa needs to harness its own domestic financial instruments, institutions and networks to fund infrastructure, energy, maritime logistics, and other critical enablers of industrialisation.' He noted that local content development cannot be achieved in isolation from financial sustainability and that African capital markets and institutions must evolve to meet the scale and complexity of the continent's development needs. According to him, the RMDB was established with a mandate to close long-standing gaps in maritime and trade-related infrastructure financing and is now positioning itself as a partner for broader development finance initiatives. Aderogba also stressed the need for improved coordination between governments, financial institutions, and private investors to align policies and reduce duplication. He called for prospective lenders to familiarize themselves deeply with the nuances of critical sectors requiring funding and identify project risks with a view to finding practical mitigants. 'The gaps in infrastructure and energy across the continent are not new, but what has often been lacking is consistency in implementation and alignment between national priorities and regional strategies. We must ensure that the institutions we build can deliver long-term capital at affordable rates and with appropriate risk management frameworks,' he stated. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
30-07-2025
- Business
- Zawya
Oman: Govt delegation reviews Dhofar industrial growth
Salalah – A joint delegation from Ministry of Commerce, Industry and Investment Promotion; the Projects, Tenders and Local Content Authority; and Oman Chamber of Commerce and Industry conducted a field visit to several factories in Dhofar on Monday as part of ongoing efforts to support industrial development and enhance local content. The visit included industries within Salalah Free Zone, Madayn and Dhofar Industrial Zone. Officials reviewed production processes, discussed key achievements, and explored areas for development and innovation across various manufacturing sectors. The delegation held discussions with factory representatives to understand existing challenges, identify growth opportunities, and explore mechanisms to enhance collaboration between the public and private sectors. The visit aligned with objectives of the National Industrial Strategy and aimed to increase local added value in the manufacturing sector, the ministry stated. Khalid bin Salim al Qassabi, Director General of Industry at Ministry of Commerce, Industry and Investment Promotion, said such field visits provide an opportunity for direct dialogue with factory owners and workers. 'These visits help us understand the realities on the ground, listen to the concerns of manufacturers, and identify practical solutions that promote industrial networking and growth.' © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Times of Oman
29-07-2025
- Business
- Times of Oman
Field visits implemented to boost local content in Dhofar
Salalah— The Ministry of Commerce, Industry and Investment Promotion, in cooperation with the Projects, Tenders and Local Content Authority, and Oman Chamber of Commerce and Industry (OCCI) conducted a joint field visit to several factories in Dhofar Governorate as part of national efforts to enhance local content and support industrial development. The visit included industrial facilities from various sectors located in the Salalah Free Zone, Madayn (Public Establishment for Industrial Estates), and Dhofar Industrial Zone. The delegation reviewed production processes, highlighted key industrial achievements, and discussed avenues for development and innovation. Challenges facing these factories were also addressed, along with available growth opportunities and ways to strengthen cooperation between government entities and the private sector. This aligns with the objectives of the National Industrial Strategy and contributes to boosting local value-added. This visit comes as Oman's industrial sector is witnessing significant growth. By the end of 2024, the manufacturing sector's contribution to GDP at constant prices exceeded RO 3.6 billion, while non-oil commodity exports surpassed RO 6.2 billion, including RO 1.8 billion from metal products. These indicators underscore the pivotal role of manufacturing industries in supporting economic diversification and enhancing local value-added. Eng. Khalid Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, stated that such visits—conducted in partnership with relevant stakeholders at industrial sites—allow direct engagement with factory owners and workers. This, he said, helps develop a deeper understanding of their needs, identify suitable solutions, and explore industrial networking opportunities. He added that the Directorate General of Industry will continue its visits to cover the rest of Oman's governorates as part of a systematic plan prepared in coordination with relevant entities. Al Qasabi emphasized the ministry's commitment to supporting and enabling the industrial sector in line with the government's direction to enhance local content and develop the national economy, achieving the goals of Oman Vision 2040
Times of Oman
29-07-2025
- Business
- Times of Oman
Joint field visits conducted to boost local content in Dhofar
Salalah: The Ministry of Commerce, Industry and Investment Promotion, in cooperation with the Projects, Tenders and Local Content Authority, and Oman Chamber of Commerce and Industry (OCCI) conducted a joint field visit to several factories in Dhofar Governorate as part of national efforts to enhance local content and support industrial development. The visit included industrial facilities from various sectors located in the Salalah Free Zone, Madayn (Public Establishment for Industrial Estates), and Dhofar Industrial Zone. The delegation reviewed production processes, highlighted key industrial achievements, and discussed avenues for development and innovation. Challenges facing these factories were also addressed, along with available growth opportunities and ways to strengthen cooperation between government entities and the private sector. This aligns with the objectives of the National Industrial Strategy and contributes to boosting local value-added. This visit comes as Oman's industrial sector is witnessing significant growth. By the end of 2024, the manufacturing sector's contribution to GDP at constant prices exceeded OMR3.6 billion, while non-oil commodity exports surpassed OMR6.2 billion, including OMR1.8 billion from metal products. These indicators underscore the pivotal role of manufacturing industries in supporting economic diversification and enhancing local value-added. Eng. Khalid Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, stated that such visits—conducted in partnership with relevant stakeholders at industrial sites—allow direct engagement with factory owners and workers. This, he said, helps develop a deeper understanding of their needs, identify suitable solutions, and explore industrial networking opportunities. He added that the Directorate General of Industry will continue its visits to cover the rest of Oman's governorates as part of a systematic plan prepared in coordination with relevant entities. Al Qasabi emphasised the ministry's commitment to supporting and enabling the industrial sector in line with the government's direction to enhance local content and develop the national economy, achieving the goals of Oman Vision 2040.
