Expanding its seaports is a core part of Oman’s plans for diversification and economic growth. Strategically located on global trade routes between the vast markets of Europe and Asia – and positioned just outside the Strait of Hormuz, a bottleneck for shipping traffic headed into the oil-rich GCC – the country has a strong commercial case to...
Bolstered by steady investments from a government cognisant of its potential, Oman’s transport and logistics sector has continued to expand even as the impact of lower oil prices continues to be felt. The sector’s real growth rate registered at 1.1% in 2015 after rising 9.4% in 2014, giving it a value of OR1.7bn ($4.4bn), according to the...
Following a period of mixed results for Oman’s mining and mineral processing sector, in which copper exports fell, the segment now appears set to rebound. According to the Central Bank of Oman, output of copper ore dropped to zero in 2016, after falling 42.9% in 2015 from 72,100 tonnes per annum to 41,200 per annum. Nevertheless, projects...
More than 100 delegates from 18 countries converged in Muscat in October 2017 for the country’s second annual international conference of mining investors and service providers. The growing interest in the conference is testament to both the great potential of the country’s mining and quarrying sectors, and of the priority accorded to the...
Growth in Oman’s industrial and retail sectors has been affected by reduced global oil prices and weaker consumer sentiment, denting spending and forcing some companies in heavy industry to defer growth and investment programmes. However, the impact of the costs borne by the sultanate’s manufacturers was offset somewhat in 2017 by the rise in...
To encourage industrial investment in Oman, the government has established special economic zones where investors enjoy tax exemptions, trade facilitation, and competitive advantages on imports and Customs duties. There are four such free trade zones – Al Mazunah, Sohar, Salalah and Duqm – each at different stages of development, and all...
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