More than 100 requests received on industrial investment details in Oman

Oman Saturday 07/May/2022 20:49 PM
By: Times News Service
More than 100 requests received on industrial investment details in Oman

Muscat: More than 100 applications for details on investment opportunities and initial feasibility studies in the industrial sector have been made by investors to Oman’s Ministry of Commerce, Industry and Investment Promotion (MOCIIP).

The transparency between investors and stakeholders in Oman as part of the industrial strategy, as part of the ministry’s initiatives to create investment opportunities for various sectors, in cooperation with the Monitoring Unit for the Implementation of Oman Vision 2040, the Omani Investment Authority, the Public Establishment for Industrial Estates (Madayn), Petroleum Development Oman (PDO), Nama Holding, and Mazoon Dairy.

MOCIIP calls on the relevant organisations, namely Madayn, the Oman Chamber of Commerce and Industry, and local banks, to support and build these opportunities, so as to provide returns to the local economy, and support the industrial strategy for 2040.

“Under the initiative of providing 100 investment opportunities, 72 have already been launched,” said Faisal bin Saeed Al Hakmani, director of investment opportunities at MOCIIP.

“50 opportunities along with their preliminary studies were launched last year, and 22 investment opportunities with prior purchase contracts were done at the beginning of this year,’ he further added.

“These opportunities fall within the ministry’s plans to develop the industrial sector by creating new opportunities for economic feasibility that will help expand and diversity industrial facilities across the various wilayats and governorates of Oman, and will help in raising the contribution of the industrial sector to Oman’s GDP,” he added.

Investment opportunities target sectors of industries that reliant on local natural resources such as food industries, petrochemicals, minerals and metals, and industries based on various natural resources; capital-intensive industries, namely those using advanced technology to manufacture ships, electrical products, engines and construction tools; and knowledge-based industries and research and development to further the presence of medical and environmental industries

Investors can put forth their names for these opportunities through the online platform with pre-purchase contracts available in these sectors.