Logistics sector key pillar of economic diversification

MUSCAT: The Sultanate has been keen to put the logistics sector within the framework of the ninth five-year plan to be among the promising sectors that contribute to the economic diversification. This sector enjoys potentials to forecast the future of global trade and seek to keeping abreast of economic developments, as well as the latest developments in the energy market.
The logistics sector, which depends on the management of flow of goods and energy from production areas to consumption areas and the cornerstone of world trade, is considered a real wealth of the Sultanate and the alternative sustainable economic growth of the Sultanate due to its strategic geographical location linking the East and the West, as well as availing a route for economic centres in the Asia-Pacific region.
It is also a key gateway to the GCC countries that enjoy economic weight and influence.
The Sultanate is close to major global markets, such as India and China in East Asia, as well as promising economies in the African continent, where ships can be reached in east Asia in less than two weeks and to Africa in a week and Europe within two weeks.
The initiatives and projects of the logistics sector came from the Tanfeedh labs to promote diversification, which is supported by the Implementation Support and Follow-up Unit to serve the Sultanate’s trend that aims to develop this sector and make it the basis for developing the other promising economic sectors. The sector came up with (16) initiatives and projects.
Among the prominent logistics sector’s initiatives undertaken by the labs to promote economic diversification is the bypass road initiative (Ibri-Hafeet-Al Buraimi).
The Support and Follow-up Unit is currently working on this initiative that aims at linking the Sultanate to a network of advanced roads in the neighbouring countries while contributing to supporting GCC integration in terms of increasing social and economic communication among the GCC countries, contributing to facilitate trade and investment and strengthening the Sultanate’s position as a regional trade hub, in addition to activating the movement of import and export through linking the Sultanate’s ports to the land border ports with the various neighbouring countries.
Wadi Saa-Hafeet road; the existing road from the Al Zuroub roundabout (Sohar-Al Buraimi), extends to Hafeet roundabout through Saa border post where the length of the road is about 52 Km. — ONA