Converting Industries Contribute 48.3% in Total Industrial Output

Muscat: Faisal Abdullah Al Rawas, Chairman of Oman Chamber of Commerce and Industry has affirmed that the industrial sector is one of the most important economic sectors in Oman. It contributes to the growth of the national economy and the prosperity of the business environment in the country, he added.

In a statement marking Oman Industry Day which falls on 9 February every year, Al Rawas pointed out that Oman’s GDP increased at the end of the third quarter of 2022 by 30.4 percent, and the total value added of non-oil activities reached RO 20.8 billion, up by 14.9 percent.

He added that the statistics indicate an increase in the value-added rate of industrial activities at the end of the third quarter of 2022, as a result of the increase in the added value of converting industries by 65.6 percent.

As of the end of last September, the percentage of the GDP of industrial activities amounted to 19.28 percent, while the converting industries accounted for 48.3 percent of the total industrial output, he explained.

Al Rawas reiterated that the converting industries is one of the promising sectors in attracting foreign direct investments, as the value of foreign investments in this sector in 2021 stood at RO 1.705 million 705, or 9.60 percent of the total investments.

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.