HM the Sultan Award for Industrial Excellence announced

Muscat: The Ministry of Commerce, Industry and Investment Promotion announced the winners of His Majesty the Sultan Award for Industrial Excellence on Tuesday.

The function was held under the patronage of Dr Ali bin Masoud Al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones in the presence of Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, a number of officials from the Ministry and Oman Chamber of Commerce and Industry, of Madayn and Oman Industrialists Association.

During the virtual celebration, five industrial establishments winning HM the Sultan’s Award for Industrial Excellence and nine industrial establishments winning the Ministry’s Shields for Excellence were announced.

The total number of industrial establishments participating in the award stood at 74, which is the highest participation since the inception of the Award in 1991.

Dr Saleh bin Said Masan, Undersecretary for Commerce and Industry at the Ministry of Commerce, Industry and Investment Promotion, said that the contribution of the manufacturing sector to the total GDP by end of 2019 was approximately OMR3 billion, representing 9.5 percent of the total GDP of OMR29.349 billion, according to the statistics of the National Centre for Statistics and Information (NCSI).

The direct foreign investment in the manufacturing sector improved from OMR926 million in 2014 to OMR1.1 billion in 2018, he said, adding that the Oman Vision 2040 aims the contribution of non-oil sector to the GDP to reach 91.6 % by 2040. This requires employing all capabilities and putting in place the policies and programmes for upgrading the manufacturing sector.

He said: “His Majesty the Sultan Award for Industrial Excellence recognises the importance of industrial establishments and plans to boost their competitiveness at the local, regional and international levels.”

Ridha bin Jumah Al Saleh, Chairman of the Board of Oman Chamber of Commerce and Industry, said: “We are proud of participating in the celebration of the Ministry of  Commerce, Industry and Investment Promotion on the Oman Industry Day which commemorates the visit of late Sultan Qaboos bin Said bin Taimour to Al Rusayl Industrial Estate. This year, under the reign of Renewed Renaissance, led by His Majesty Sultan Haitham Bin Tarik, we are in a new era of renaissance, which requires us all to gather our efforts to achieve the aspiration of Oman Vision 2040 in making the industrial sector one of the leading sectors for the targeted diversification.”