Oman Industry Articles & Analysis

Chapter | Industry from The Report: Oman 2019

Oman’s industrial sector is a key pillar of its long-term development strategy, as well as a major employer and a steadily growing source of wealth. It covers a wide range of fields, including mining, petrochemicals, aluminium and organic beverages. The recent economic slowdown in both the country and the wider region still poses challenges. With much economic activity driven by government...

Following the global oil price drop in 2014, Oman – like the other GCC states – is pushing ahead with its long-term national development plans that seek to diversify the economy.

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Oman has sought to encourage new activity into its burgeoning mining sector following the ratification of new legislation that will see investors benefit from shorter approval times, more flexible royalty rates and a more transparent legal framework.

 

Oman’s industrial sector is a key pillar of its long-term development strategy, as well as a major employer and a steadily growing source of wealth. It covers a wide range of fields, including mining, petrochemicals, aluminium and organic beverages.

 

How can Omanisation be increased and implementation improved in the construction sector?

 

Since 1983, when the sultanate opened its first industrial estate at Rusayl in Muscat, specialised zones for manufacturing, heavy and light industry, IT, chemicals and pharmaceuticals have flourished. These now form part of Oman’s overall economic strategy, as it diversifies away from hydrocarbons by boosting alternative sectors. Employment is...

 

Mining in Oman is poised for growth in line with economic diversification plans, and the sector has distinct advantages over other developing markets. The country has some of the richest and most diverse mineral deposits in the world, ranging from gold and copper to potash, gypsum, chromite and limestone. Despite this, Oman’s mineral wealth...

 

In July 2018 the opening of Oman’s largest seawater desalination plant on the coast west of Seeb marked a major step forward for the water utility sector. Completed in less than 30 months at a cost of $300m, the Barka IV independent water project (IWP) has a capacity of 281,000 cu metres per day. The Barka Desalination Company is a consortium...