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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Oman ranked 5th in Arab region in competitive industrial performance

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The Sultanate of Oman achieved significant progress in its industrial performance, ranking 56th globally and 5th in the Arab world in the Competitive Industrial Performance Report for 2023. This improvement reflects its efforts to diversify industrial activities, increase industrial exports, and add value to the sector. Over the past seven years, Oman has risen from 72nd place in 2016 to its current position.


The report, issued by the United Nations Industrial Development Organisation (UNIDO), assesses the industrial competitiveness of over 153 countries through the Competitive Performance Index (CIP). Oman's ascent of 16 places in just seven years showcases its growing industrial competitiveness, with even more growth expected in the future, supported by the industrial strategy set by the Ministry of Commerce, Industry, and Investment Promotion.


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Dr Saleh bin Saeed Masan (pictured), Trade and Industry Under-Secretary at the Ministry of Commerce, Industry, and Investment Promotion, emphasized Oman's commitment to increasing industrial competitiveness. The country is actively implementing programs and initiatives outlined in the Industrial Strategy 2040. The ministry is currently developing additional initiatives to enhance the efficiency of the industrial sector, adopt Fourth Industrial Revolution technologies in production, and empower national industries in global markets.


The Competitive Industrial Performance Index report evaluates global economies based on three main axes: the ability to produce and export manufactured goods, technological upgrading, and global impact. These three axes, with eight sub-indicators, have been integrated into the Sultanate of Oman's industrial strategy.


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