Muscat: The Board of directors of the Public Authority for Privatization and Partnership (PAPP) on Sunday approved a matrix of powers and responsibilities, and a general framework for floating PP projects combining efforts of public and private sectors.
The meeting, the first convened by the board this year, formed a committee tasked with devising the general programme of privatization, which is the plan that outlines the policies and purposes of privatization projects, the methods of their execution and their durations.
The meeting was held under the chair of Dr Ali bin Masoud al Sunaidi, Minister of Commerce and Industry, Chairman of PAPP board.
The PAPP issued the Executive Regulation of privatization and partnership laws governing ventures of public and private sectors. The Executive Regulation comprises provisions for proper implementation of projects and it goes into minute details of how projects should be accomplished.
The PAPP board also looked into envisaged proposals for new projects emanating from Oman offset initiatives. The visions include one for the setting up of a multi-antenna earth station to receive direct satellite images and transmissions of composite data and sensing capabilities for processing and distributing the data to users.
It is also envisaged to upgrade geographic capabilities and create other products from space images in cooperation with the National Survey Authority.
The proposals include expediting procedures to support the micro industries project in partnership with the private sector with the aim of procuring and using hi-tech equipment and sophisticated spare parts for the sectors of health, oil and gas and others. This will increase the in-country value of local products.
Dr Dhafir bin Awadh al Shanfari, CEO of PAPP, said that new projects will be launched in the near future as part of Oman offset initiatives, including a knowledge transfer and skills development capability centre that applies 5G techniques and the Internet of Things in partnership with Ericsson company, the research vessel and other projects.
The PAPP was established under Royal Decree No. 54/2019 and it is considered a major contributor in enhancing the national economy. It will play a great role in economic diversification, generation of international investment, activation of the private sector and improvement of services, operational capabilities and competitiveness of partnership ventures. –ONA