69% of projects under Tanfeedh are complete

MUSCAT: Sixty-nine per cent of industrial projects were completed at the end of 2018 under Tanfeedh, said Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry. Speaking with industrialists on Sunday on challenges facing industrial sector and requirements to increase the contribution of the industrial sector to the GDP, he said the number of industrial projects under Tanfeedh had touched 26, some of which have reached various stages of production. “Implementation of the projects reached 40-90 per cent depending upon the nature of each project.”

The Ministry of Commerce and Industry celebrated the Omani Industry Day, which falls on February 9, to celebrate the first visit of His Majesty Sultan Qaboos to Rusayl Industrial Estate in 1991. Dr Sunaidy said the meeting (with industrialists) is an opportunity to review important indicators of performance of the industrial sector. He said, “The industrial sector is one of the five productive sectors that Tanfeedh focuses in the early stages of its implementation.”

The Tanfeedh projects being implemented include Industrial Research Centre in partnership with Sohar University. Fifty per cent of the mold factory has been completed at the end of 2018. The remaining work is expected to be completed by end of this year. It is likely to be operational at the beginning of 2020. He said the fourth industrial revolution has already begun and one of its most prominent applications will be artificial intelligence, the Internet of Things and large data, e-commerce, cloud computing, robots and renewable energy.

He said the Sultanate had recently signed an agreement with the World Economic Forum to help factories and service institutions prepare for the future jobs. Hilal bin Hamad al Hasani, CEO of Public Establishment for Industrial Estates (Madayn), said industrial cities have achieved growth in all indicators for the tenth year in a row despite regional and global financial and economic crises. He said (Madayn) had not seen any decline in recent years and the most recent one, 2018, witnessed an unprecedented turnout, as (Madayn) received more than 450 new investment applications. — ONA