Industry
From The Report: Oman 2020
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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, told local media in October 2019. Past decades have seen manufacturing’s contribution to GDP rise from under 1% in 1980 to 9.6% in 2018, and it is expected to rise further. Room remains to broaden the industrial base: under the long-term plan Vision 2040, the government is looking to encourage the adoption of technology in manufacturing to enhance competitiveness and increase output. This chapter contains interviews with Hilal bin Hamad Al Hasani, CEO, Public Establishment for Industrial Estates; and Sheikh Khalil Al Harthy, CEO, Credit Oman.

Articles from this Chapter

Overview

To the next level: Industrial zones key to unlocking Oman’s economic potential
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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 manufacturing’s contribution to GDP rise from less than 1% in 1980 to 9.6% in 2018, and it is expected…

Interview

Industrial cityscape: Hilal bin Hamad Al Hasani, CEO, Public Establishment for Industrial Estates (Madayn), on specialised development and the growth of smart city infrastructure
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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 cities exceeds 100m sq metres. There are over 2200 projects operating in these cities, employing…

Interview

On the map: Sheikh Khalil Al Harthy, CEO, Credit Oman, on increasing value- added production and supporting domestic exporters
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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 parks, free zones and strategic ports offer the potential to transport more goods – including those…

Overview

Outsized impact: Support for small and medium-sized enterprises is increasingly recognised as key to sustainable growth
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Small and medium-sized enterprises (SMEs) are the engines of global 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. In the case of the latter, the rise in the number of SMEs has been crucial to economic diversification and resilience, particularly in countries vulnerable to commodity price fluctuations. SMEs have also been at the crest of innovation, taking advantage of their smaller size and agility relative to larger firms to respond more rapidly to technological and commercial opportunities.…