Manufacturing sector follows up 23 projects with RO 3. 4 billion worth realized investment value

Muscat: The seventh Manufacturing Steering Committee was held in the Ministry of Commerce and Industry, to follow up with the outputs of the National Program for Enhancing Economic Diversification (Tanfeeth) which is under supervision of Implementation Support and Follow up Unit. The meeting was chaired by His Excellency Dr. Ali bin Masoud bin Ali al-Sunaidi, Minister of Commerce and Industry, in the presence of representatives from government & private sector.

The meeting reviewed the developments in manufacturing Initiatives which came out of (Tanfeedh) and discussed the progress of the projects listed in the manufacturing dashboard. The actual achievement was 50% in comparison to the July target of 52%, Investments amounted to 3.4 billion RO as of the first half of 2019, out of total expected investments of 5.4 billion RO at the end of the year. The number of jobs generated by the projects reached 1579 jobs, with a 57% Omanisation rate. During the meeting, the implementation plans for the projects were discussed, with a focus on problem solving for four main projects.

During this year, the manufacturing sector have witnessed the launch of production in the Sebacic Oman and the polymer experts. In addition, five new projects were added to the 2019 manufacturing dashboard. Thus there are 23 projects listed in the manufacturing dashboard in the areas of food security, petrochemical sector, metal and non- metal sector and pharmaceutical sector as well as innovation projects in cooperation with the Industrial Innovation Center in Rusail Industrial Estate and Sohar University. Through the challenges faced by the projects, the Committee has worked to find the appropriate solutions to accelerate obtaining of approvals and permits required from government agencies to accelerate implementation in several projects.

Moreover, the Steering Committee has also discussed the acceleration of the availability of infrastructure for the delivery of gas, electricity and water to the project sites. In addition to the issues related to project financing and the effort exerted in this regard in coordination with the Central Bank of Oman.

Finally, the steering committee uses dashboards to explain the stages of projects and the justifications for delays, either by the relevant service institutions or by investors. The following shows an example of one of the dashboard screens.

 

 

 

 

 

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