• Oman

    • Value of investment opportunities in Converting Industries sector exceeds OMR 122 million

    By on July 24, 2023

    Value of Investment Opportunities in Converting Industries Sector Stands at OMR 122 Million

    Muscat: The Ministry of Commerce, Industry and Investment Promotion pointed out that there are a number of investment opportunities available in the converting industries sector, with an investment volume exceeding RO 122 million.

    The ministry elaborated that these opportunities are represented by the establishment of a “factory of barriers and copper bars” in Sumail Industrial Zone and Ibri Industrial Zone, an opportunity to establish “steel casting and steel ingots manufacturing plant” in the Governorate of North Al Batinah, an opportunity to set up the “Semi-rigid aluminium foil containers manufacturing,” a new facility at Sohar Industrial Estate that produces pre-formed aluminium, such as food containers, plates and trays for the retail and restaurant sectors and an investment opportunity to set up a “Steel Factory”, which aims to establish a new plant for the manufacturing of light-gauge steel framing for construction in the Governorate of Dhofar.

    These opportunities will contribute to attracting quality investments in the sectors of economic diversification and the development of the governorates. These opportunities are distributed in a number of governorates of the Sultanate of Oman.

    Such opportunities will also contribute to creating the appropriate environment for the success and development of all investments, empowering and stimulating the private sector to invest, in addition to contributing to augmenting the proportion of foreign direct investment (FDI) in the gross domestic product (GDP) and promoting the Sultanate of Oman as an investment hub in various converting industries sector.

    These investment opportunities in the converting industries also come within the framework of the Ministry of Commerce, Industry and Investment Promotion’s action plan for the major projects, programmes, initiatives and targeted investment sectors that contribute to the development of the national economy in order to create an enhanced and enabling business milieu for investment in diverse sectors in line with Oman Vision 2040.

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