MUSCAT, Dec 4 - While 70 per cent of industries in the Sultanate depend on natural resources, 20 per cent use advanced- or medium-level technologies, while the remaining 10 per cent use low-level technologies. According to a report by the Ministry of Commerce and Industry, most of the works in the industrial sector are concentrated on activities that use natural raw materials such as oil, gas, minerals and quarries.
“When we compare Oman with other Gulf and Middle Eastern and North African countries as well as developing and emerging countries and China, it appears that the Sultanate is growing at a good rate in terms of contribution of the added value of the industry,” says the report.
The ministry is currently reviewing and updating its industrial strategy 2040 in cooperation with the United Nations Industrial Development Organization (UNIDO).
This is part of Oman Vision 2040 aimed at promoting competitiveness and growth in the industrial sector and upgrading technology in manufacturing.
This, according to the ministry, can play its role in increasing added value and employment and reduction of economic risks caused by depletion of natural resources, as well as creation of new and diversified activities.
Statistics reveal that the growth of refineries, petrochemicals and minerals sectors are higher compared with food, textiles and other sectors,
“Statistics and studies by the United Nations Industrial Development Organization indicate an increase in income when technology is used in manufacturing,” the report points out. According to statistics from the National Centre for Statistics and Information (NCSI) for
2017, the industrial contribution to the Gross Domestic Product (GDP) reached 10 per cent, while 5 per cent of total employment in the country is provided by the industrial sector.
SAMUEL KUTTY
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