As part of celebrations marking Omani Industry Day, observed annually on February 9, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has announced the launch of two key initiatives to help drive local value creation and exports of Omani goods.
Also as part of the celebrations, a number of agreements were signed based on the recommendations of the Conversion & Future Industries Lab organised by the Ministry last year. The recommendations and outputs of the Lab, which were also presented to a gathering of industrialists and entrepreneurs, will contribute to enhancing Omani exports in international markets, drive electronic commerce, raise the efficiency of the supply chain, and facilitate the sale and marketing of Omani products.
Importantly, the Lab has championed the roll-out of a national product identity programme with the aim of creating a unified national framework for defining the Omani product and unifying its marketing identity through industrial promotion programmes spearheaded by the Ministry in cooperation with partner-entities like as the “Made in Oman” campaign. The goal is to encourage the showcasing of these branded products in local and international exhibitions. The National Product Identity Programme will contribute to enhancing the local added value of national products and encouraging them to target new export markets.
A key highlight of yesterday’s Omani Industry Day celebrations was a meeting hosted by Qais bin Mohammed al Youssef, Minister of Commerce, Industry and Investment Promotion. It was attended by a number of officials of the Ministry, representatives of agencies specializing in In Country Value (ICV) development, industrialists, project owners and investors. A key goal of the meeting was to underline the importance of enhancing ICV in the manufacturing and industrial sector, as well as explore solutions to possible challenges facing investors.
Eng Sami bin Salem al Saheb, Director General of Industry at the Ministry, emphasized the Ministry’s commitment to developing the industrial sector and increasing its contribution to the GDP by updating laws and providing facilities and exemptions to Omani factories.
The rationale behind adopting ‘In-Country Value’ as the theme of Omani Industry Day, he said, stems from the important role that ICV development can play in developing the national economy, diversifying sources of income, achieving sustainable development goals, increasing the private sector’s contribution to the gross domestic product, improving the state’s trade balance, enhancing the state’s ability to face crises and achieving local sufficiency in goods and services. In addition to the development of companies and human resources.
ICV, he stressed, aims to develop and increase the manufacturing capacity of the Sultanate of Oman and achieve integration between industries, by enhancing the production of goods and providing services provided locally by small and medium enterprises, creating job opportunities for Omanis and supporting training and qualification programs. In-country value programs also aim to enhance and attract direct and indirect domestic and foreign investments, localize supply chains, in addition to improving the business environment and developing national exports.
Eng Sami al Saheb emphasized that there are possibilities for implementing ICV programmes, the most important of which are governance, development of local suppliers, employment and development of local human resources, making the business environment attractive and stimulating, continuous cooperation between the government and the private sector, follow-up, auditing and reporting.
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