Looking to maximise the benefit of its hydrocarbons reserves, Oman is investing in downstream oil-and-gas activities, including a new petrochemicals plant and an expansion at one of its refineries.
Oman
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New investments by maritime services firms based in the port of Duqm could help Oman boost its credentials as a shipping and trade centre, parlaying its position close to major trade routes into profits, though it will have to contend with established rivals in and around the Gulf.
Economic update | Oman: Adding value to mining
19 Jul 2013
The government is moving to boost Oman’s mining industry, announcing plans to review additional licence applications in 2014. However, any new concessions are likely to be tied to amended investment conditions that will require raw materials to be processed before export. Such stipulations create local employment and add value to the exports.
The government’s recent commitment of more than $1.3bn to the Omani fisheries sector is the latest step in a series of investments that will lay the groundwork for growth in the industry and open the door for new opportunities for private businesses.
A new index for Oman’s stock exchange is expected to provide a boost to the Sultanate’s nascent Islamic financial services sector and lead the way for additional sharia-compliant products.
Economic update | Oman: Linking up the food chain
13 Jun 2013
New investments in Oman’s agro-industries will not only help bolster the Sultanate’s food security and ease reliance on imports, but also have the capacity to provide increased business opportunities in food processing and support services.