Interview: Abdullah Al Hashimi What are the main investment opportunities in the power and utilities sector, and what more can be done to increase foreign direct investment? ABDULLAH AL HASHIMI: The utilities sector has grown in recent years in terms of customer volume and business activity. This indicates that the economy is recovering and that companies are investing in expanding their businesses…
Interview: Talal Al Awfi What projects are in the pipeline to achieve decarbonisation and fulfil Oman’s energy transition strategy? Which are the main priorities? TALAL AL AWFI: Oman’s National Energy Strategy is closely aligned with its long-term economic vision. The country aims to generate at least 30% of its power from renewables by 2030. Renewables are playing a larger role in the energy mix,…
Interview: Steve Phimister What are the main investment opportunities in the domestic oil and gas segment? STEVE PHIMISTER: The appetite for investment in oil and gas in Oman is positive in 2023 and will remain so in the long term. Local players are working to increase productivity, security and affordability while reducing emissions. Similar targets are shared by neighbouring countries. To that end,…
Interview: Hamed Al Naamany What are the priorities of the domestic natural gas industry in light of global developments? HAMED AL NAAMANY: The local natural gas sector is working to remove bottlenecks in operations, investment and procedures amid global macroeconomic shifts. The industry is also prioritising the optimisation of existing facilities and production enhancements. Looking to the future,…
Interview: Mazin Al Lamki What role do you envision for renewables in the future energy mix, and what more can be done to boost private investment in this space? MAZIN AL LAMKI: The substantial expansion of renewable power sources presents numerous advantageous opportunities for Oman’s energy sector. With the potential to exceed 200 GW of solar and wind generation capacity, the country’s renewable…
Interview: Abdullah Al Salmi In which ways will the new Securities Law help to attract local and foreign capital? ABDULLAH AL SALMI: The CMA is responsible for regulating the capital market and the insurance segments. The authority not only develops the regulatory environment for these areas of the economy, but it also aims to provide the necessary resources for broader economic and social development. The…
Interview: Abdulaziz Al Balushi How do you expect investment inflows to perform over the next 12 months? ABDULAZIZ AL BALUSHI: In 2022 the Muscat Stock Exchange (MSX) initiated steps to help integrate the bourse into the regional ecosystem of stock exchanges. The primary objective was to improve liquidity in the local market, mainly by upgrading the MSX to emerging-market status, which necessitates…
Interview: Sheikh Waleed Khamis Al Hashar In what ways is the banking sector supporting economic diversification in line with Oman Vision 2040? SHEIKH WALEED KHAMIS AL HASHAR: Oman’s medium-term fiscal strategy continues to deliver results while economic diversification plans are gaining further traction with sustained focus on strategic sectors like manufacturing, tourism, transport and logistics,…
Interview: Tahir bin Salim Al Amri What are the expectations for inflation in Oman? TAHIR BIN SALIM AL AMRI: Inflation has remained benign despite a sharp increase in prices globally, mainly due to the exchange rate peg, a cap on retail oil prices and tax exemptions on key items. Overall, we expect inflationary pressure to remain low, notwithstanding some risks from commodity price volatility caused…
Interview: Abdulsalam bin Mohammed Al Murshidi To what extent are rising interest rates and inflation affecting plans to achieve a diversified economy? ABDULSALAM BIN MOHAMMED AL MURSHIDI: Oman’s economy has recovered from the Covid-19 pandemic, with nominal GDP estimated to exceed $100bn in 2022 compared to $74bn in 2020. In addition to a significant contribution from the energy sector, other areas…
