BUSINESS REPORTER
MUSCAT, MARCH 18
Credit Oman recorded a 148 per cent growth in the volume of insured sales for Omani exports and domestic sales for 2022. The total value of insured sales for 2022 amounted to RO 333.28 million compared to RO 133.60 million in 2021.
In addition, insured domestic sales within Oman recorded a value of RO 145.46 million, a growth of 171 per cent, compared to the value of insured sales in 2021which amounted to RO 35.64 million.
Insured sales of exports from Oman to the world recorded a remarkable increase of per cent last year, with a total value of RO 187.20 million compared to 2021, when it amounted to RO 79.95
The insured sectors in Credit Oman varied among the consumer food sectors, which topped the value of insured sales during 2022, with a total value of RO 158.57 million. The value of insured sales in the construction and building materials sector amounted to RO 125.42 million, in addition to the growth of the petrochemical and plastic sectors, agriculture, mining and packaging.
The number of buyers for 2022 in Credit Oman reached 2,855 local and international buyers, as the number of local buyers in Oman reached 2063, while the number of buyers around the world reached 792.
These results came in line with the royal directives of His Majesty Sultan Haitham bin Tarik to enable Omani exports, and the facilities to attract investments and foreign capital, as well as in line with the directives of the tenth five-year development plan (2021-2025), which represents the first executive plan for Oman Vision 2040.
It focuses on priority goals concerned with stimulating economic activity and developing the macroeconomic environment by putting in place appropriate mechanisms and procedures to ensure the speedy return of economic activities, and ensuring the achievement of accelerated economic growth rates.
Credit Oman continues its efforts to advance economic development through its insurance services that help manufacturers and business owners sell their products and increase their sales volume without worrying about non-payment by the buyer.
It also provides consultations, advice and guidance to Omani manufacturers to enter promising markets in various countries of the world, through the creditworthiness of the buyer and the exporting country and the mechanisms used for that.
Credit Oman also pays great attention to the owners of small and medium enterprises due to their vital role, and being one of the drivers of the national economy by providing facilities to the owners of small and medium enterprises through its services and integrated insurance solutions.
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