Sunday, April 02, 2023 | Ramadan 10, 1444 H
few clouds
23°C / 23°C

Manufacturing sector’s contribution to GDP climbs 9.1pc in 2021

No Image

The Ministry of Commerce, Industry & Investment Promotion announced the upcoming manufacturing and future industries laboratory in January of 2023.

The laboratory, organised in collaboration between The Ministry, the Industrial Innovation Academy and the Oman Vision 2040 Implementation Follow-up Unit will focus on solutions facing the manufacturing sector in the country.

Under-Secretary for Commerce & Industry at the Ministry of Commerce, Industry & Investment Promotion, Dr Saleh bin Said Masan said in a press conference, “The laboratory aims to address the challenges facing projects and investment opportunities

in the industrial sector and finding practical solutions to implement them. In addition to developing solutions to general challenges facing the investment in manufacturing projects.”

“Over the past decades, the sector has seen steady growth since the 1970s and a rise in its contribution to GDP, achieving around 9.1% of 2021,” he added.

According to recent data from the National Centre for Statistics and Information (NCSI), the value of manufacturing industries grew by 67.4% by the end of June 2022 compared to the same period in 2021.

The upcoming laboratory will focus on four main axes: industries of the future, project and investment opportunities, Oman’s 2040 industrial strategy, and governance.

In addition, the event will also focus on the outcomes of the previously held solution clinics last month.

Acting Chief Executive Officer of the Industrial Innovation Academy, Dr Ayman Abdullah al Fudhaili, further elaborated, “The suggested solutions will be discussed in detail, and execution plans of the suggested initiatives will be put forth in coordination and collaboration with relevant authorities."

At the beginning of the month, the organising authorities held a series of solution clinics with an emphasis on infrastructure and public services, funding and investments, and laws and legislation in regards to the manufacturing sector in the country.

According to the Academy, 15 enabling initiatives were put forward as a result.

The laboratory is expected to take place in January over a period of 4 weeks.

arrow up
home icon