Industry & Retail
From The Report: Oman 2016
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For over two decades Oman’s industrial sector has been a key plank in the government’s economic diversification strategy, and the country’s non-petroleum sectors continued to see robust growth in 2014. Electricity and water supply grew by 8.6% to reach $973.5m, mining and quarrying expanded by 8.5% to $322.3m, and building and construction was up 8.3% to $5.4bn. Recent efforts to boost the manufacturing sector have included the creation of an in-country value scheme, specifically addressed towards the oil and gas industry, which aims to develop local content in servicing the energy sector. Meanwhile, Oman’s international reputation for stable growth is increasingly serving to draw in local, regional and international developers and brands. In 2014 the retail and wholesale segments of the service sector made up 6.6% of the country’s GDP. This chapter contains an interview with Gert Hoefman, CEO, Oman Cables Industry.

Articles from this Chapter

Overview

Moving up the value chain: Although manufacturing growth has been flat, non-petroleum industrial activities are picking up speed
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For over two decades Oman’s industrial sector has been a key plank in the government’s economic diversification strategy. During that time efforts have been focused on improving the physical and regulatory infrastructure necessary to attract investment and secure growth, and the results at flagship estates such as Rusayl and Sohar have been impressive. With a new five-year economic plan currently under development and preliminary work under way on Vision 2040 – the overall development strategy…

Analysis

More is better: The government is working to boost industrial productivity
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In common with many of its regional peers, Oman’s current economic strategy is focused on achieving high-value-added growth, characterised by capital-intensive production methods, advanced technology, and scientific research and development. Yet rather than increasing capital intensity, recent IMF statistics appear to show that the economies of the GCC are becoming less, not more, productive. Can government policy help Oman’s industry check this trend, and recover its lost productivity? Bonuses…

Interview

Adding value: OBG talks to Gert Hoefman, CEO, Oman Cables Industry
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Interview: Gert Hoefman What can be done to increase and develop Oman’s manufacturing export base? GERT HOEFMAN: With the lower oil prices affecting the economy in Oman, the need for diversification is becoming more urgent. Industry in Oman has a good base to start from, but when you look at the industrial sector in Oman you will find that it is predominately commodity based. To prepare for a more competitive market, stepping up in the value chain could be a way out. So how can we improve our…

Analysis

Purchasing power: Stable growth is drawing in local, regional and international developers and brands
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Despite having different consumer patterns and a less developed domestic retail market than some of its GCC neighbours, the Omani retail sector nonetheless continues to experience stable growth, attracting investment from local and regional developers, as well as interest from leading global brands. According to preliminary figures produced by the Central Bank of Oman (CBO), the wholesale and retail segments of the services sector contributed OR2.1bn ($5.4bn) to the Omani economy in 2014, equivalent…