Oman’s industrial sector is a key pillar of its long-term development strategy, as well as a major employer and a steadily growing source of wealth. It covers a wide range of fields, including mining, petrochemicals, aluminium and organic beverages. The recent economic slowdown in both the country and the wider region still poses challenges. With much economic activity driven by government...
The Middle East Industry
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Bahrain is one of the most diversified economies in the GCC region, due in large part to a well-established manufacturing industry. The kingdom’s biggest industrial segment by far is aluminium production, and its importance is set to grow further with the launch in 2019 of a new pot line at national aluminium producer Aluminium Bahrain (Alba), which will increase the firm’s capacity by nearly...
Despite its diversified economy, Bahrain has nonetheless faced pressures in recent years as a result of the 2014-15 drop in global oil prices. However, a multibillion-dollar aid package from other Gulf states and an accompanying fiscal adjustment plan, as well as growth following a partial oil price recovery and a major oil and gas discovery, offer hope for an economic turnaround in 2019.
Mining in Oman is poised for growth in line with economic diversification plans, and the sector has distinct advantages over other developing markets. The country has some of the richest and most diverse mineral deposits in the world, ranging from gold and copper to potash, gypsum, chromite and limestone. Despite this, Oman’s mineral wealth remains largely uncovered. The sultanate holds a...
With the utilities sector continuing its long-term shift towards privatisation, these are changing times for power, water and waste in the sultanate. The year ahead will see further private sector participation in the country’s electricity transmission and distribution networks, while new desalination projects will also come on-line. Oman is keen to secure greater international involvement in...
Following the global oil price drop in 2014, Oman – like the other GCC states – is pushing ahead with its long-term national development plans that seek to diversify the economy.