First research chair of PEIE at Sultan Qaboos University

MUSCAT: Hilal bin Hamad al Hasani, Chief Executive Officer of PEIE, at the Incubation Conference held at Hormuz Grand Hotel, Muscat, said that the first research chair of PEIE at Sultan Qaboos University will be implemented to boost research and development cooperation with academic institutions. He also stated that, “The investment arm of the Public Establishment for Industrial Estates — Shumookh Investment and Services Company has adopted two projects. Shumookh has invested in National Frankincense Products (Oliban), and it has also initiated National Centre for Electricity to offer smart and innovative solutions. Since its establishment, the centre is developing a main strategy to contribute in the advancement of the electricity and energy sector. The capital of these companies has exceeded RO 1 million and they are employing more than 100 Omani employees.”
“The positive indicators achieved by PEIE reflect the focus given by the Sultanate on the industrial sector in particular and the other investment sectors in general,” Al Hasani informed, adding: “The percentage of SMEs exceeds 85 per cent of the total projects in the various estates of PEIE.
During the last 10 years (2007-2017), PEIE has achieved a significant growth in various areas. The cumulative value of investment has touched more than RO 6.3 billion until the first half of 2017. During the same period, growth has been witnessed in the number of job opportunities provided by the projects based in the industrial estates by 143 per cent. This brings the total number of workforce by the end of the first half of this year to more than 53,000 with an Omanisation rate exceeding 35 per cent.
Finally, we hope that this conference will come up with realistic solutions and ideas that will contribute to the development of incubation and work towards boosting productions, activating diversification of projects and facing the growing number of job-seekers.”