Agreements worth RO1billion signed
Published: 10:02 AM,Feb 27,2023 | EDITED : 02:02 PM,Feb 27,2023
Oman Investment Authority (OIA) launched four programs to enhance In-country value as part of the ‘Qimam’ Project.
This is pursuant to the Royal Directives of His Majesty Sultan Haitham bin Tariq with regard to increasing the local content; and in an effort to empower the private sector to assume its role in leading the Omani economy in line with the priorities of Vision Oman 2040, as well as enriching local content and supporting SMEs. The launch of the projects was attended by Abdulsalam Al-Murshidi, President of OIA, and several government officials, as well as CEOs, economists, media representatives, and a number of entrepreneurs and SME representatives.
Agreements worth over RO1 billion
The event also witnessed multiple agreements signed between OIA companies and other local companies, including SMEs to promote cooperation in research, development, and innovation.
Asyad group has signed two agreements, one with Rihal to initiate a digital database project, in which a data warehouse will be developed with analysis capabilities using the latest technologies in data science.
The developed technology will allow decision-makers to make well-informed decisions that are based on facts and precise inputs and will also allow employees to access data from other departments in the company.
The second agreement was signed with the German University of Technology (GUtech) to develop a technology that helps in reducing emissions from cargo ships by capturing and liquefying carbon dioxide to facilitate storage and transportation.
Nama holding has signed 12 contracts with local companies for projects worth over RO1 billion covering three key scopes; the supply of cables and conductors, the supply of electric switches, and the supply of low-voltage substations.
On the other hand, Fisheries Development Oman announced cooperation with Khat Al Wusta International Co. to establish a manufacturing plant for fish container boxes using international standards to meet the existing demand from the group and the local market while building the capacity to expand into regional markets. The cost of the first phase is estimated at about half a million Omani Rials.
It should be noted that OIA has launched several programs, initiatives, policies, and meetings to enhance ICV, e.g., issuing the Tendering and Procurement Policy and the Guiding Principles of in-country value, in addition to completion of the implementation of the ICV action plan for 2022, and creating an action plan and integrated programs for 2023.
Moreover, OIA issued a package of supporting measures for SMEs, including sourcing purchases that do not exceed RO10,000 from SMEs holding the entrepreneurship card, and allocating 10% of OIA purchases of OIA to SMEs, in addition to exempting them from tender fees and granting them a preferential percentage of 10% in procurements and contracts that range from RO10,000 up to 50,000 in materials, services, etc. It also launched a tender for establishing an integrated electronic system for following up on the performance of companies in terms of ICV, which is to be launched in 2023.
This is pursuant to the Royal Directives of His Majesty Sultan Haitham bin Tariq with regard to increasing the local content; and in an effort to empower the private sector to assume its role in leading the Omani economy in line with the priorities of Vision Oman 2040, as well as enriching local content and supporting SMEs. The launch of the projects was attended by Abdulsalam Al-Murshidi, President of OIA, and several government officials, as well as CEOs, economists, media representatives, and a number of entrepreneurs and SME representatives.
Agreements worth over RO1 billion
The event also witnessed multiple agreements signed between OIA companies and other local companies, including SMEs to promote cooperation in research, development, and innovation.
Asyad group has signed two agreements, one with Rihal to initiate a digital database project, in which a data warehouse will be developed with analysis capabilities using the latest technologies in data science.
The developed technology will allow decision-makers to make well-informed decisions that are based on facts and precise inputs and will also allow employees to access data from other departments in the company.
The second agreement was signed with the German University of Technology (GUtech) to develop a technology that helps in reducing emissions from cargo ships by capturing and liquefying carbon dioxide to facilitate storage and transportation.
Nama holding has signed 12 contracts with local companies for projects worth over RO1 billion covering three key scopes; the supply of cables and conductors, the supply of electric switches, and the supply of low-voltage substations.
On the other hand, Fisheries Development Oman announced cooperation with Khat Al Wusta International Co. to establish a manufacturing plant for fish container boxes using international standards to meet the existing demand from the group and the local market while building the capacity to expand into regional markets. The cost of the first phase is estimated at about half a million Omani Rials.
It should be noted that OIA has launched several programs, initiatives, policies, and meetings to enhance ICV, e.g., issuing the Tendering and Procurement Policy and the Guiding Principles of in-country value, in addition to completion of the implementation of the ICV action plan for 2022, and creating an action plan and integrated programs for 2023.
Moreover, OIA issued a package of supporting measures for SMEs, including sourcing purchases that do not exceed RO10,000 from SMEs holding the entrepreneurship card, and allocating 10% of OIA purchases of OIA to SMEs, in addition to exempting them from tender fees and granting them a preferential percentage of 10% in procurements and contracts that range from RO10,000 up to 50,000 in materials, services, etc. It also launched a tender for establishing an integrated electronic system for following up on the performance of companies in terms of ICV, which is to be launched in 2023.