Sultanate’s logistic sector built from scratch!

The efforts being made to establish economic entities to push the wheel of investment and development of economic sectors in the Sultanate, such as the logistics sector, are not as easy as many of us think. There are institutions and companies set up as semi-government departments in the beginning of the Blessed Renaissance to manage certain facilities as a major requirement for development. Now with the passage of time, they are being changed to meet current requirements. This is particularly the case in logistics sector which is now being developed. The accomplishment of this task is nothing, but a miracle.
When we talk about the logistics sector in the country, we come across many positive or negative developments. We also notice depletion and liquidation of some companies. Asyad group is one of the major entities in the sector. It comprises a number of government companies being revived to play role in economic diversification of the country. It is an integral part of the logistic sector of the Sultanate, and one of the major companies attracting investment in the country and leading the course of modernisation and improvement in some of its areas.
The reason why such efforts should be given opportunity to develop and revive the vital sector for the future of our country. The government is making huge efforts to diversify the economy and make optimum use of the vital facilities, opportunities and strengths.
We have noticed in recent months, some government organisations have started revealing the achievements they have made with unprecedented transparency and clarity. It is a major development. One of the companies announced that it has made progress in delivering its services 95 per cent on time. This announcement has come from a company which has been a burden for the government for many years due to lack of productivity and proper services. Now this company has made major achievements to be part of the one of the five economic sectors in which economic diversification depends in the Sultanate.
The national transport company which lagged behind in its works made major achievements to be part of the system to develop public transport sector in the country. This is not an achievement just for Asyad group, but for the entire Sultanate.
Suhar and Salalah free zones of the group brought $500 million in foreign direct investment. This is a success which is not possible without monitoring, evaluation of performance, sense of responsibility and accountability and sometimes pressure of work. We haven’t heard of such achievements in the past. Nobody also knew these companies, their role and economic importance and their profits and losses, etc.
Now we see that there is a logistics sector, with clear objectives, goals, vision, responsibilities and companies which work as a chain to achieve higher goals with clear plans. There is competition among the companies of the group. This environment encourages them to attract investments for themselves as well as for others.
There is no doubt that the announcement made by Asyad group about the indicators, regarding its performance and portrayal of its job, shows the policy of clarity and transparency which it has adopted. The growth in operational profits by 14 per cent in last few months of this year, compared with the same period last year is commendable. It has expected that it will achieve a growth of 23 per cent by the end of the current year. The growth of shareholders’ equity in the group from 16 per cent to 23 per cent is a remarkable achievement. This is because of the planning made for the future of the national economy.
Now the logistics sector is moving forward confidently due investments it has attracted recently. Whatever has been achieved must be appreciated, encouraged and lauded. However, despite all these, developments and achievements, there are major challenges ahead in the way for this sector. This is nothing but natural in any work of management. It will always be required to keep pace with the developments in the sector, continue efforts and leave no stone unturned to achieve its objectives.