Muscat: The industrial sector is an essential pillar of economic diversification in Oman Vision 2040. It is an engine of growth and a vital engine for other economic sectors.
His Excellency Dr. Saleh bin Saeed Musan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Trade and Industry, explained that the government’s belief in the importance of the industrial sector and its desire to make the Sultanate of Oman a leading investment destination, the Ministry chose the slogan “Factory Automation and Artificial Intelligence” to celebrate this year’s Omani Industry Day. With the aim of continuing the growth process in the prosperous era to broader horizons and sustainable development.
In a statement to the Oman News Agency, His Excellency stressed that the manufacturing sector continues to contribute effectively to the national economy, as its contribution to the gross domestic product reached 9.3 percent at the end of September 2023, equivalent to two billion and 454 million Omani riyals at constant prices. The number of Omani workers in the sector and those insured reached more than 33 thousand workers, while direct foreign investments in the industrial sector amounted to more than RO 1.4 billion.
His Excellency added that it has become necessary for the Omani industrial sector to adopt modern technologies to enhance its efficiency, diversify its products and raise their quality, and improve environmental and economic sustainability, with the acceleration of the global shift towards the Fourth Industrial Revolution.
His Excellency Dr. Saleh Musan confirmed that the Ministry of Commerce, Industry and Investment Promotion will work to implement a set of initiatives, including automating Omani factories, adopting artificial intelligence technologies, and moving toward a circular economy. During this year’s Industry Day ceremony, some of these specific projects will be announced that aim to raise the sector’s productivity and reduce operational costs by adopting practical programs to automate factories and raise their operational efficiency.
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