FAISAL AL AJMI
MUSCAT, FEB 25
The 13th annual Oman Forum, organised by ‘Alam Al-Iqtisad magazine’, was held at the Intercity Hotel Muscat on February 24, 2025, under the theme “Enhancing Local Content: The Path to a Sustainable and Diversified Economy.”
The event brought together government officials, private sector leaders, experts and entrepreneurs to discuss the strategic importance of local content in strengthening Oman’s economic future.
The forum was inaugurated under the auspices of Shaikh Khalid bin Hilal al Maawali, Chairman of Majlis Ash’shura. In his opening remarks, Shaikh Khalid emphasised the critical role of the National Local Content Policy (2024-2030) in achieving the objectives of Oman Vision 2040. The policy is seen as a cornerstone for diversifying the national economy, boosting Omani industries, reducing dependency on imports and maximising the use of local resources. It also aims to foster innovation, entrepreneurship and public-private partnerships.
A central feature of the forum was a panel discussion titled “Local Content: A Strategic Tool to Strengthen the National Economy.” The session explored how the National Local Content Policy aligns with Oman Vision 2040’s goals, particularly in building a sustainable and innovative economic framework. Panellists also addressed challenges in empowering the national workforce and proposed solutions through targeted initiatives and policies.
In his opening remark, Said al Maashani, Executive Vice President at United Media Services Oman (UMS) stated: "We are committed to fostering a sustainable environment for dialogue and the exchange of ideas, focusing on innovative solutions to strengthen the economy and elevate the quality of our products. By bringing together diverse perspectives and expertise, we aim to drive progress, inspire collaboration and achieve lasting impact for the benefit of all."
The forum showcased a series of working papers and visual presentations highlighting best practices and success stories in implementing local content policies. These were delivered by specialists and representatives from key organisations, including the Oman Investment Authority, the Oman Vision 2040 Implementation Follow-up Unit, the Ministry of Economy, the Ministry of Energy and Minerals, and the Ministry of Commerce, Industry and Investment Promotion. Contributions also came from major industry players such as OQ Group, Daleel Petroleum, Credit Oman, and several small and medium enterprises (SMEs).
In a bid to encourage excellence in local content implementation, the forum recognised outstanding initiatives with the ‘Alam Al-Iqtisad Local Content Award’. The award celebrates projects that have significantly contributed to the national economy and sustainable development. By honouring these initiatives, the forum aims to inspire both public and private sectors to adopt best practices and drive projects that support sustainable economic growth, local innovation and increased productivity.
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