Oman Industry Sector Research Highlights

Economic News

Gulf countries look to space to harness scientific and commercial opportunities
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– Space sector could galvanise diversification in technology, defence and tourism – Newly established Saudi Space Agency is projected to accelerate investment – The UAE is expanding its capabilities in exploration and satellite imaging – Global partnerships with Chinese and Western firms prioritise localisation In the push to embrace emerging technologies and harness their…

Event Video

COMEX 2023: Oman’s Official Technology Show

It's time to get ready for the biggest tech event of the year - COMEX 2023! The Exhibition is taking place from May 22nd to 25th at the OCEC in the beautiful city of Muscat. Get ready to witness cutting-edge technology from all over the world, from global brands launching products to intriguing startups showcasing their latest innovation. Don't miss out on the opportunity to be at the center of…

Analysis

How incentives are supporting industrial development in Oman
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Oman’s free zones, special economic zones and industrial zones have a central role in advancing Oman’s industrial development through a combination of incentives and targeted efforts to attract investors. The Public Authority for Special Economic Zones and Free Zones (OPAZ) was established in August 2020 to oversee three free zones in Salalah, Sohar and Al Mazunah – a key node on the border…

Analysis

MENA region poised to lead global steel decarbonisation
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As the global industry sector seeks to reduce or eliminate its carbon footprint, a number of MENA countries are investing in green steel production to capture market share and help meet emissions targets. Industry generates 20% of global greenhouse gas emissions annually, with the steel manufacturing segment accounting for the largest share, at 7%, due in part to a reliance on coal to heat smelting…

Analysis

GCC countries invest in downstream chemicals export capacity
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Russia’s February 2022 invasion of Ukraine has reignited international debate about the pace of the global energy transition and the risks of relying on oil and gas imports from countries with opposing agendas. In the Gulf it is largely framed around how to extract maximum benefit from the remaining hydrocarbons wealth, while also playing a responsible role in global efforts to both mitigate climate…

Analysis

How e-commerce driving recovery of Oman’s retail sector
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As Oman’s retail sector recovers from the disruption of the Covid-19 pandemic, government efforts are under way to boost the contribution of local producers, particularly small and medium-sized enterprises (SMEs). Indeed, while wholesale and retail trade began to decline in 2015 – with negative macroeconomic trends and headwinds being compounded by the pandemic in 2020 – forecasts for future…

Analysis

How renewable energy projects are driving investment in Oman
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In October 2022 Oman became the third GCC country to commit to net-zero emissions by 2050, in support of the Paris Agreement. Following the UAE and Saudi Arabia – which in 2021 pledged to reach net-zero – Oman aims to build on a series of clean energy investments and power projects across the sultanate. Oman’s oil production surpassed 1m barrels per day during the first nine months of 2022,…

Overview

Untapped resources: Plans to expand the mining sector through regulatory changes
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With mineral mining a major focal point of the Omani government’s plans to diversify the country’s economy, the sector has seen revitalised interest in recent years, from both domestic and foreign investors. The sector’s newly adopted strategy to develop through comprehensive, large-scale concession agreements is opening up more territory and streamlining the business side. New geological surveys…

Overview

How Oman’s industrial zones leverage technology to boost investment
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Manufacturing activity has undergone a significant expansion in Oman since the turn of the century, with further growth targeted in a number of strategically identified segments to boost self sufficiency and aid the economic diversification agenda. The Covid-19 pandemic demonstrated the importance of self-sufficiency, particularly in relation to food and medical supplies. Industrial, free and special…

Overview

How green energy to help Oman’s utilities reduce emissions
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Oman Vision 2040, the national plan to diversify the sultanate’s economy and put it on a more sustainable footing, is the most important driver of change in the country’s utilities sector. In March 2019 the Oman Power and Water Procurement Company (OPWP) forecast the share of renewables in the energy mix would reach 30% by 2030, compared to Vision 2040’s initial projection of 20%. Following…

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Oman Industry Sector Research Highlights

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