MOCI launches Phase 2 of Industrial Strategy 2040

Muscat: The Ministry of Commerce and Industry (MOCI) has launched phase two of the Industrial Strategy 2040, in collaboration with the United Nations Industrial Development Organization (UNIDO), which aims at identifying the policies and tools required for the successful implementation of the strategy.

“After the success of Phase One in outlining the status of the industrial sector and the government priorities in the next stage regarding high technologies and capital- intensive and resource-based industries, and identifying challenges and obstacles ahead, Phase Two is meant by drafting  time-table and mechanisms for achieving these priorities,”,Eng Sami Salim al Sahib, Director General, MOCI said.

“Starting with evaluating the requirements of investment in the manufacturing sector to achieve the Industrial Strategy 2040 to understand the required level of investment the private sector should participate by. Following the evaluation, there shall be an identification of the required policies and tools for implementing Manufacturing Strategy 2040, how the business environment can be further enhanced, funding, and tax exemption. Furthermore, there will be programs for developing labour skills to upgrade readiness to capitalize the Fourth Industrial Revolution”, Al Sahib said. explained.

Phase two aims at improving cooperation between government entities and offices through outlining roles and responsibilities and drafting laws and regulations that support developing services related to manufacturing. This phase, also, categorized the procedures and mechanism required for the implementation of the strategy into groups; where the first group will be implemented in 12-24 months. And there are more procedures to be implemented in five, ten and twenty-year periods according to manufacturing sector performance indicators.

Al Sahib stressed that there shall be further extended consultations and meetings with the competent authorities and parties as soon as the initial draft of proposed policies and plans is done, to achieve the aims of the Manufacturing Strategy 2040 through a transparent and appropriate decision-making process.




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