Industrial sector’s contribution to GDP amounted to OMR3.2bn

Oman Monday 08/February/2021 21:19 PM
By: Times News Service
Industrial sector’s contribution to GDP amounted to OMR3.2bn

Muscat: Assigned by His Majesty Sultan Haitham bin Tarik, Dr Ali bin Masoud Al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) will preside over the celebration for announcement of the winners of His Majesty the Sultan’s Award for Industrial Excellence, which will be held via  videoconferencing.

Sami bin Salim Al Sahib, Director General for Industry at the Ministry of Commerce, Industry and Investment Promotion said that during the celebration five industrial establishments would be announced as winners of HM Cup for Industrial Excellence and nine industrial establishments as winners of the Shields of the Ministry for Excellence. Seventy four industrial establishments have participated in the award, which aimed to continued development of the performance of industrial operations, he added.

He said that the contribution of the industry sector in the GDP amounted to OMR3.2 billion up to September 2020 and the exports of the same sector stood at 4.3 billion during 2018.

He said: “Oman will rely on the industry sector during the upcoming stage as it represents one of the key pillars for economic diversification, which made preparation of the industrial strategy 2040 that cope with Oman Vision 2040 and aimed to diversification of manufacturing activities and transforming such activities into technology and knowledge-based activities.”

The strategy also aimed at development of distinguished products and increase of the exports of manufacturing industries to new markets at the regional and international level, he added.