Industry & Mining
From The Report: Oman 2014
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As oil reserves continue to draw down, the government is focusing on downstream processing and developing a complementary port infrastructure and transport net- work. By 2020, the government aims for industry to contribute 30% of GDP and to reduce oil’s share of GDP from 50% to 19%. The discovery of mineral resources presents further opportunity in mining growth.
This chapter contains interviews with Gert Hoefman, CEO, Oman Cables; and Said Al Masoudi, Acting CEO, Sohar Aluminium.
Articles from this Chapter
Pillar of strength: Downstream processing and minerals development are both part of the drive towards economic diversification
OBG talks to Gert Hoefman, CEO, Oman Cables IndustryOBGplus
Interview:Gert Hoefman How can manufacturing firms in Oman build sustainable growth while managing market volatility? GERT HOEFMAN: Innovation for the industrial manufacturing sector in Oman is the key for staying competitive. The predominant commodity-based manufacturing industry in Oman is currently in the process of innovating not only through market development, but also by improving their manufacturing technology. The most important driver for modernising production facilities is to…
OBG talks to Said Al Masoudi, CEO, Sohar AluminiumOBGplus
Interview:Said Al Masoudi Given the energy intensity of aluminium smelting, how can the industry enhance efficiency? SAID AL MASOUDI: Technological innovation is essential to stay ahead in the aluminium industry. Aluminium smelting plants in Oman tend to use the AP37, which was the most productive smelting technology commercially available at the time that they were commissioned. To stay competitive with regards to cost and efficiency, many players in the industry are currently conducting…
Subterranean windfall: New mineral discoveries hold potential for growthOBGplus
The mining industry is set to become an important sector in Oman’s diversification programme. Various exploratory studies, commissioned by the Directorate-General of Minerals at the Ministry of Commerce and Industry (MCI), have recently uncovered substantial deposits of metallic and non-metallic resources across the country, mainly carbonate-based minerals, such as limestone and marble, and ophiolite rocks, which contain copper, gold, chromite, lead and zinc. If developed, these newfound mineral…
Full basket: Food processing promises to serve growing regional appetitesOBGplus
Food consumption across the GCC region is set to increase by over 3% annually over the next five years, according to a report released by finance house Alpen Capital. In Oman, an expanding youth population, combined with a rise in the number of expatriates and growing disposable incomes, has fuelled the growing demand for protein. While the sultanate is likely to remain highly reliant on food imports, this increasing demand has left a gap in the local marketplace, creating opportunities for the private…
Scaling up: A bold push to foster aquaculture and processing is under wayOBGplus
As more investment and technology has found its way to Oman’s shores, the fishing industry has seen increasing productivity. In the eighth five-year development plan (2011-15), Oman is expected to spend $259m on fisheries development, and $1.3bn in the 2013-20 period. As the country contends with the difficulties of economic diversification, such investments highlight the government’s ambition to include the fisheries sector in Oman’s quest to diversify revenue streams – with the goal of…
In full agreement: Exports have been boosted through a robust trading networkOBGplus
Looking to support its movement towards the non-oil export market, Oman has built strong economic partnerships. As a member of the World Trade Organisation, the Greater Arab Free Trade Area, the GCC, the Indian Ocean Rim Association (IORA) and the bilateral free trade agreement (FTA) with the US, Oman has developed a robust network that enables it to boost exports and limit its trading barriers. GCC-Related Benefits Oman has profited from its founding membership in the GCC. This regional free trade…
Local knowledge: The drive is on to prepare Omanis for private sector employmentOBGplus
To enhance its economic diversification programme, Oman’s government has taken steps to prepare the workforce for new private sector-based industrial developments. Concern over the long-term future of oil reserves has sparked investment not only in industrial infrastructure – through industrial estates – but also into legal reforms, training programmes, financial products, research initiatives and entrepreneurship incentives, all aimed at gearing the economy toward diversification. As the…
