Oman launches Industrial Sector Local Content Plan

Muscat: The Ministry of Commerce, Industry and Investment Promotion today launched a local content plan to be applied in the industrial sector. The ceremony was held under the auspices of Dr. Said bin Mohammed Al Saqri, Minister of Economy.

The plan was launched with the aim of enhancing reliance on local products, increasing the percentage of local components in national industries, supporting Omani small and medium enterprises (SMEs) and raising the efficiency of local supply chains.

The plan also aims to enhance the regional competitiveness of the Omani industrial sector and encourage investment in converting industries that generate high in-country value (ICV), thereby contributing to the goals of Oman Vision 2040, notably by promoting economic diversification and diminishing dependence on imports.

The plan, codenamed “Tasnee” (industrialization), includes three main programmes: a programme to enhance the components of local content in the industrial sector, a programme to empower industrialists and importers and a programme to promote Omani products and procurements in markets. On the sidelines of the ceremony, a campaign titled “Made in Oman” was launched.

In pictures: Oman launches Industrial Sector Local Content Plan

The ministry also launched a programme titled “Taamir” through which agreements were signed with major real estate developers to ensure their commitment to give precedence to Omani construction materials in all stages of construction.

Meanwhile, a training programme (codenamed “Itqan”) was launched by the Ministry of Commerce, Industry and Investment Promotion to hone the skills of Omani youth.

The programme constitutes part of the objectives of the 2040 Industrial Strategy, which seeks to develop Omani cadres and qualify them to lead the industrial sector and boost economic development.

Oman Cables Industry Company signed an agreement with the Ministry of Commerce, Industry and Investment Promotion to study scopes for applying clean energy generation technologies through the use of solar panels, controlling the quality of cables in the local market and transferring knowledge and expertise.

The ceremony included a workshop that brought together a number of stakeholders and experts from government institutions and private sector establishments.

Mustafa bin Suleiman Al Shuaili, an economic researcher at the National Programme for Economic Diversification, gave a visual presentation about the integrated aluminum industries centre in Sohar, deemed a strategic step towards achieving the goals of economic diversification stipulated in Oman Vision 2040.

The ceremony was attended by Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, Dr. Khalfan bin Said Al Shuaili, Minister of Housing and Urban Planning, and officials from the public and private sectors.