Industry & Retail

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.