Oman has signed agreements for 100 new industrial projects, with a total investment of nearly $3.9 billion, spanning renewable energy, food and medical industries, air conditioning equipment, construction and building materials, metals, plastics, and various industrial, economic, and free zones, Times of Oman reported.
The Ministry of Commerce, Industry, and Investment Promotion marked Oman Industry Day on February 9 under the theme “Oman at the Centre of Global Supply Chains.” The event highlighted the country’s strategic focus on industrial development, diversification, and economic growth.
Held under the patronage of HH Sayyid Dr. Fahad bin Al Julanda Al Said, Vice Chancellor of Sultan Qaboos University, and attended by Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammed Al Yousef, along with senior officials and business leaders, the ceremony underscored Oman’s rising industrial competitiveness.
According to Dr. Saleh bin Said Masan, Undersecretary for Commerce and Industry, the output of the manufacturing sector grew by 8.5% in 2024, reaching $6.99 billion by September. The Global Competitive Industrial Performance Report by the United Nations Industrial Development Organization (UNIDO) ranked Oman third in the Arab world and 53rd globally, reflecting its accelerating industrial capabilities.
The industrial sector’s contribution to GDP under the Industrial Strategy 2040 exceeded expectations, with a 19% growth between 2020 and 2023. It also created 26,000 jobs for Omanis since 2020, achieving a 79% increase in employment. Non-oil commodity exports surged to $19.5 billion in 2023, more than doubling since 2020.
During the event, three Memoranda of Understanding (MoUs) were signed:
- With the International Centre for Industrial Transformation (Singapore): Supporting factories in adopting Fourth Industrial Revolution (4IR) technologies.
- With the Gulf Organization for Industrial Consulting: Establishing an advanced automation center.
- With UNIDO: Announcing a strategic partnership to strengthen industrial development.
The Ministry also launched initiatives including the Made in Oman national product identity certificate, an Industrial Sector Enablers Guide, and a Certificate Verification Programme for professional accreditation.
Speaking at the event, UNIDO Director-General Gerd Müller praised Oman’s leadership in sustainable manufacturing, while Jesmond Hong, Chief Operating Officer of the International Centre for Industrial Transformation, highlighted the importance of collaboration in driving industrial progress.
A dialogue session on supply chains brought together public and private sector experts to discuss local content enhancement and industrial sector growth opportunities. Minister Al Yousef engaged with Omani industrialists to explore strategies for strengthening domestic supply chains and boosting competitiveness.
