HM Industrial Excellence Awards to be announced today

MUSCAT: Assigned by His Majesty Sultan Haitham bin Tarik, Dr Ali bin Masoud al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), will preside over the announcement ceremony of His Majesty’s Award for Industrial Excellence which will be held through a video conference on Tuesday. Sami bin Salim al Sahib, Director-General of the Ministry of Commerce, Industry and Investment Promotion, said that five industrial establishments which have won His Majesty’s Cup for Industrial Excellence and another 9 industrial establishments which have won the Ministry’s Shield, will be announced at the ceremony.

A total of 74 industrial establishments competed for the awards which aim to boost the efficiency of industrial operations and performance, while keeping pace with the current technological developments and the Fourth Industrial Revolution (Industry 4.0). Al Sahib affirmed that the Sultanate banks on the industrial sector during the upcoming period being one of the major pillars of economic diversification. Hence, the Industrial Strategy 2040 was prepared in alignment with the Oman Future Vision 2040. The industrial strategy targets to diversify manufacturing and transform them into activities based on knowledge and technology. It is also aimed at boosting the Sultanate’s exports of manufacturing products and entering emerging markets on both regional and international levels.

The manufacturing sector contributed RO 1,589,200,000 to the GDP until September 2020. The Industrial Strategy 2040 encompasses a number of promising sectors based on knowledge and technology as well as capital-intensive industries and natural resources industries. The industrial sector contributed RO 3,296,400,000 to the GDP until September 2020. The industrial sector’s exports amounted to RO 4.3 billion in 2018. The number of industrial licenses reached 12,176 in 2020 compared to 9,161 industrial licenses in 2019. The Ministry of Commerce, Industry and Investment Promotion, in cooperation with the Public Establishment for Industrial Estates (Madayn), strives to increase the number of industrial estates in some governorates of the Sultanate, the official said. — ONA