As Oman ramps up oil production and strives to reduce raw exports and bolster its downstream hydrocarbons sector, the petrochemicals industry is poised for strong expansion in the coming years. The government is pouring billions of dollars into the sector in an effort to industrialise the economy, improve value addition and create jobs, with a host of new projects in...
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Articles & Analysis | Major government investment aimed at industrialising the economy from The Report: Oman 2015
Articles & Analysis | A strong focus on value-added manufacturing and processing projects from The Report: Oman 2015
Vision 2020’s economic diversification mandate has seen Oman’s industrial segment expand rapidly in recent years. Offering a prime geographical position situated at the crossroads of world trade routes, an abundance of natural resources, and government incentives for foreign industrial investors, the sultanate’s industrial sector is one of the most business friendly in...
Vision 2020’s economic diversification mandate has seen Oman’s industrial segment expand rapidly in recent years, with the non-oil sector expanding by 7.6% in 2013. The strong growth being witnessed in the petrochemicals, aluminium, steel and mining segments is expected to continue with government investment in the industrial sector projected to reach $517.88m between 2014 and 2020. Sohar,...
Although the sultanate’s petroleum wealth has traditionally provided a backbone for growth, efforts are well under way to diversify away from hydrocarbons. Oman Vision 2020 has laid out plans to boost industrialisation within the sultanate and to encourage the private sector to take a more active role in the economy and in the provision of jobs, both of which are billed as key drivers for growth.
Articles & Analysis | Sector development is crucial to economic diversification efforts from The Report: Peru 2015
While the country’s economy has long been dominated by the mining sector, less attention has been paid to other sectors. However, as commodity prices have fallen, dragging mining output down with them, Peru will have to lean more heavily on manufacturing to drive future growth. This new reality presents both challenges and opportunities. Peruvian manufacturing benefits...
Articles & Analysis | A growing number of retail brands are entering the domestic market from The Report: Peru 2015
Until a few years ago, Peru’s retail sector was one of the least mature in the region. Since then it has become Latin America’s fastest-growing, as shopping malls, supermarkets and stores from international brands have proliferated. Growth has been fastest in the advantage of this situation to establish a position for itself in the retail sector. In 2005, it opened its...