On emerging trends in the luxury goods segment and marketing to a global audience To what extent has the Covid-19 pandemic changed the business environment, and how is Oman helping companies adapt to new realities? MARCO PARSIEGLA: Since the beginning of the Covid-19 pandemic, we have experienced a new reality in terms of the magnitude and frequency of crises. Building resilience is one of the…
On the industry’s role in the GCC’s economic diversification How has the GCC petrochemical industry been affected by the Covid-19 pandemic? ABDULWAHAB AL SADOUN: The health crisis had a significant effect on the petrochemical industry. In the first half of 2020 demand collapsed and prices plunged, a challenge compounded by supply chain disruptions related to the closure of…
MINREX - Middle East Mining and Resources is a Virtual Expo and Summit taking place from 16 - 17 March 2021. MINREX is a strategic event focusing on the future of mining, minerals, quarrying industries and sustainable solutions for exploration, refining, technology, financing and industrial development. The Event will bring together the mining value chain from local, regional and global…
Small and medium-sized enterprises (SMEs) drive economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. Their rise has been crucial to economic diversification and resilience, particularly in countries vulnerable to commodity price fluctuations. SMEs have also…
A combination of factors, including climate change, rising energy demands and limited hydrocarbons resources, have driven Oman’s renewable energy agenda in recent years. Although renewables were estimated to have made up less than 1% of the country’s electricity mix in 2018, the Oman Power and Water Procurement Company (OPWP) aims to roll out 2500-3000 MW of generation capacity by 2025…
The abundance of mineral resources in Oman has long been known, however, its full potential has only recently been tapped. The non-metallic mineral limestone has a purity of 99.8%, the highest in the world, and gypsum, of which Oman is the largest exporter globally, provide a steady source of GDP for the sector. However, the most notable growth has been seen in metals. In 2019 the sultanate’s…
As the sultanate looks to manage its energy transition and inject capital into its fiscal balance, privatisation, sector reorganisation and renewable energy are key topics on the agenda for Oman’s utilities sector. Reducing reliance on natural gas is a top priority, with a number of large-scale projects using solar energy helping the country achieve its goal of 30% renewable energy on the…
Interview:Hilal bin Hamad Al Hasani What kind of companies are currently operating within Oman’s industrial cities, and where is the majority of foreign investment coming from? HILAL BIN HAMAD AL HASANI: There are seven developed prime industrial cities in Oman, namely Sur, Sohar, Raysut, Nizwa, Al Buraimi, Al Rusayl and Samail. According to recent statistics, the total land area of Madayn’s…
Manufacturing is on track to reach the target contribution of 15% of GDP by 2020 laid out by Oman’s Vision 2020 economic development plan, which was first announced in 1995. Indeed, Oman has accomplished 70% of its ambitions in Vision 2020, Talal bin Sulaiman Al Rahbi, deputy secretary general of the Supreme Council of Planning (SCP), told local media in October 2019. Past decades have seen…
Interview:Sheikh Khalil Al Harthy Which industries offer particular potential to expand value-added goods production in Oman? SHEIKH KHALILAL HARTHY : The government is focusing on two main areas to increase value-added goods production. The first is the expansion of the manufacturing sector. Oman has been traditionally known only for its light industry. However, the country’s industrial…