Oman Investment Authority (OIA), the biggest investor in the Omani economy, is among a number of ministries and public sector entities that will take part in next week’s International Semiconductors Executive Summit (ISES) – a landmark forum that promises to, at the very least, enable Oman’s entry into the global eco-system undergirding the $600 billion-worth semiconductor industry.
The Sultanate of Oman is hosting the first-ever edition of ISES, the world’s leading platform for semiconductor industry stakeholders, in the Middle East during February 22-23, 2023 at Shangri-La’s Barr Al Jissah Resort & Spa.
Organised with the support of the Ministry of Transport, Communications and Information Technology (MTCIT), the forum will also feature presentations from Oman Investment Authority (OIA), the Public Authority for Special Economic Zones and Free Zones (OPAZ) and the Ministry of Commerce, Industry & Investment Promotion.
The theme of the two-day event is: ‘Establishing a semiconductor ecosystem in Oman and the GCC to address future digitalisation growth’, underscoring an ambition to ignite the growth of some elements of a semiconductor here in the Sultanate of Oman.
"Oman is the perfect hub for the creation of semiconductor design and infrastructure in the GCC. It is home to a young, prosperous and highly educated population. In the global and regional hunt for tech talent, Oman will become a primary destination for leading tech companies establishing global development centers, and for local champions expanding internationally," the London-based organisers of the ISES global series said in a press statement.
"The International Semiconductor Executive Summits (ISES) advisory board members, members and community and I are committed to continually improving and reimagining how we expand to further serve and engage a more comprehensive value chain. In rapidly growing and emerging markets, like the GCC, we need to use our resources to stay ahead of the curve by delivering a valuable, neutral platform to maximize and grow the supply chain that the World desperately needs," added Salah Nasri, President of the International Semiconductor Executive Summits (ISES).
The Muscat Summit presents a rare window of opportunity for Oman, and the wider GCC region, to make a concerted break into the lucrative global semiconductor industry as the world grapples with the lingering effects of a chips shortage that has unleashed chaos for chip-dependent sectors, notably the automotive industry. Supply chain disruptions, initially stemming from pandemic-induced lockdowns and other factors, continue to impede the supply of chips to a wide array of industries that require them for their products and equipment.
In the wake of the crisis, some countries have taken steps to secure their own production of semiconductors for their markets. Notable is the example of the United States, which enacted the CHIPS Act last August to safeguard the interests of its national industries and maintain its technological prowess.
In recent years, Oman has made some fledgling efforts in establishing the rudiments of a future domestic semiconductor industry. Last June, the Ministry of Transport and the Ministry of Labour signed a cooperation agreement with the Semiconductor Development and Investment Company (SDIC) to support the establishment of Oman’s first project centring on the design and manufacture of semiconductors. SDIC is an affiliate of GS Micro Electronics (GSME), a global leader in semiconductor and microelectronics innovation, providing advanced technology solutions and products to customers worldwide. The company’s Co-Founder and CEO, Farhat Jahangir, is due to address next week’s summit.
“Oman is taking a lead in becoming a hub in semiconductor IC design and manufacturing in the GCC,” said GSME in a post. “The purpose of this summit is to enhance, strengthen and expand the global semiconductor ecosystem in the region. GSME-Oman as the first semiconductor design and manufacturing training company in GCC is going to present in the event,” it added.
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