National product policy to boost local firms’ growth

Oman Tuesday 16/January/2024 20:28 PM
By: Times News Service
National product policy to boost local firms’ growth

Muscat: The National Product Loyalty Programme will promote national products and encourage consumers to choose Omani products.

The programme is aimed at encouraging consumers to choose national products and contribute to the growth of local companies. It is also expected to create opportunities to boost the confidence of citizens and residents to opt for local products for their daily consumption.

The statistics issued by the National Centre for Statistics and Information (NCSI) pointed out that the contribution of manufacturing industries in gross domestic product (GDP) at current price amounted to 8 percent at the end of third quarter of 2023.

The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) reaffirmed that national products are being favoured by citizens and residents due to several reasons including the quality and standard specifications of Omani products.

The ministry further pointed out that the purchase of local products is supportive to the national economy and will increase their consumption in the future.

The ministry said that the ‘Made in Oman Campaign’ contributed to raising the awareness among society on the significance of purchasing national products. It further mentioned that the implementation of the standard specifications and technical regulations besides the norms of best practices will boost local industries.

Faisal bin Abdullah Al Rawas, Chairman of the Board of Oman Chamber of Commerce and Industry (OCCI), said that the National Product Loyalty Programme would promote local products and motivate consumers to choose the Made in Oman products. 

In order to promote local products, the government is also offering more incentives to the Omani companies. He pointed out that the Oman Chamber of Commerce and Industry is also working on implementation of the targets of the National Product Loyalty Programme in light of the OCCI guidelines of the Oman Vision 2040 document.

Dr. Hilal bin Abdullah Al Hinai, Chairman of the Board of Oman Manufacturers Association, said that the support for local products would contribute to achieving several economic and social goals. The support of national companies would lead to an increase in domestic production, create additional job opportunities and boost value addition to the national economy.

Dr. Rajab bin Ali Al Awaisi, an Expert on Social and Education Studies at the State Council, said that the value of the National Product Loyalty Programme is not just restricted to the quality of the products, but also to the value addition to growth of national products in the local market.