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Overview

Omani hydrocarbons sector focuses on efficiency in the new low-price environment
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Almost 50 years after the sultanate began shipping oil out of the port at Mina Al Fahal, the country’s economy remains closely tied to the fortunes of hydrocarbons. In 2015 oil and gas together accounted for 33.9% of GDP, 78.7% of government revenues and 59.4% of merchandise exports, according to the Central Bank of Oman. International Factors Positive developments in production have been unable…

Overview

Growing demand pushing Oman to continue investing in utilities services
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Driven by rapid industrialisation, a growing population base and state-funded investments in major infrastructure projects, demand for electricity and water has surged in Oman over the past decade. Peak power demand on Oman’s Main Integrated System (MIS) has more than doubled since 2006 and water demand has almost tripled, according to Finnish consultancy and engineering firm Pöyry. Base case assumptions…

Overview

Real estate prices soften in Oman, but market fundamentals remain strong
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Sentiment in Oman’s real estate sector remains cautiously upbeat in the face of a downturn in the global price of oil and the consequent impact on government expenditure plans in the sultanate. Residential rental prices have softened in some areas, with landlords preferring to trim prices to avoid untenanted periods in their properties, but in new fashionable developments lettings and sales have…

Overview

Regulatory reform and infrastructure development expected to attract investors to Omani industrial sector
OBG
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In January 2016 the Oman Supreme Council for Planning published the sultanate’s ninth five-year plan, covering 2016 to 2020. The plan is the final component of the government’s long-term Vision 2020 development strategy, focused on reducing reliance on the energy sector’s contribution to GDP and boosting non-petroleum industrial activities such as mining and quarrying, manufacturing, and building…

Overview

Oman looks to fast-track the extraction sector
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Announced in January 2016, Oman’sninth five-year plan is the final component of Vision 2020 and includes mining as one of five pillars of non-petroleum economic diversification currently being fast-tracked by the sultanate. With the government targeting 6% annual growth in the sector, and major regulatory initiatives attracting increased investor interest, mining is poised to surge in 2017-18. “The…

Overview

Mark Geilenkirchen, CEO, Port of Sohar; David Gledhill, CEO, Port of Salalah; and Reggy Vermeulen, CEO, Port of Duqm, on ways of boosting Oman's competitiveness in the maritime industry: Interview
OBG
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Interview:Mark Geilenkirchen, David Gledhill and Reggy Vermeulen What more can be done to assist the growth of the transport and logistics sector? MARK GEILENKIRCHEN: Oman has been investing significantly in the transport and logistics sector for years, and combined with the development of some new trends in the industry, we have seen a few great years for the sector in Oman. While many ports…

Overview

Oman focuses on port development
OBG
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Strategically situated at the head of the Indian Ocean Oman, which borders Saudi Arabia and the UAE, is a gateway to the GCC region – a re-distribution point and transit hub for shipments to and from Asia, the Indian subcontinent, and East and Central Africa. Transportation and logistics in the sultanate has emerged in recent years as a pillar of development and a critical driver of the economy,…

Overview

Oman reorganises infrastructure development priorities
OBG
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With a multi-billion-dollar pipeline of public sector contracts and significant private sector developments planned for the remainder of the decade, the construction sector remains a highly significant and growing sector of the Omani economy. In the face of substantial headwinds driven by lower oil prices since the middle of 2014, the government is steering towards a diversified economy, even as it…

Overview

Omani spending on agriculture sees the sector's contribution to GDP rise
OBG
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Bold plans to improve food security and production in Oman are being driven by investment in agriculture, horticulture, aquaculture and sea fishing as the country looks for sustainable solutions that will enable it to support a growing population. The sultanate’s long coastline and diverse landscapes support a rich variety of fish, livestock, crops, fruit and vegetables. However, over centuries…

Overview

Ample room for continued expansion in Oman's ICT market
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Consumer demand for data and improved connectivity is driving growth in both fixed-line and mobile services in Oman. Infrastructure providers face considerable challenges in rolling out high-speed services to all areas of the country, while increased competition in the mobile market is creating a renewed focus on customer service and offerings tailored to specific niches in Omani society. While many…