The Ministry of Commerce, Industry and Investment Promotion celebrates Oman Industry Day today, February 9, Thursday, with the attendance of government dignitaries and CEOs of public and private sector industries.
This year’s Omani Industry Day will focus on the following objectives: local content development and ICV; Development of the national economy; Diversification of sources of income; Integration between industries; Enhancing production of local goods; and Supporting local SMEs in the sector primarily because of its potential to create jobs for Omanis.
The celebrations will also seek to strengthen partnerships between the public and private sectors, address challenges and difficulties faced by investors, enhance the investment environment for industries, and embrace the Fourth Industrial Revolution and future industries.
As part of activities marking the anniversary, the recommendations of the Converting Industries and Future Industries Lab will be made public. In addition, a number of agreements emerging from the Lab recommendations will be signed.
Importantly, a new identity for Omani products will be unveiled. This is based on a unified national framework for defining the Omani product and standardizing its marketing identity through the application of promotional programmes by the Ministry working in cooperation with partners. This aims to enhance the added local value of national products and encourage them to target new export markets.
In a statement, Faisal bin Abdullah al Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, underscored the importance of the industrial sector to the government’s goal to diversify the economy away from its longstanding dependence on hydrocarbons.
Industry’s GDP contribution to GDP climbed 30.4 per cent as of end-September 2022, while the total value of the non-oil sector amounts to RO 20.8 billion, representing an increase of 14.9 per cent. The share of manufacturing industries accounted for 48.3 per cent of the total industrial output.
Al Rawas also recalled the recent expo on Omani products held in Riyadh.
“The Chamber participated in the National Products Exhibition (OPEX), which was held recently in the Kingdom of Saudi Arabia in Riyadh. It was a tangible success enhancing the Omani product,” he said.
“There is no doubt that companies and industrial facilities in the Sultanate are able to work for the advancement of the national industrial sector, and overcome these challenges by providing more facilities represented in laws, legislation and other facilities. Contributing to making the industrial sector a major source of income for the national economy, making it an important source of income for the country and a major contributor to the GDP, a promising sector that attracts foreign investments, in addition to creating many job opportunities for job seekers in the Sultanate,” he added.
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