Significant legislative developments in 2019 laid the groundwork for positive growth in Oman’s mining sector. The full extent of its mineral wealth has only recently been realised, and with a number of projects under way across the sultanate, the sector has strong potential to affect positive economic diversification of the country. At the...
Manufacturing is on track to reach the target contribution of 15% of GDP by 2020 laid out by Oman’s Vision 2020 economic development plan, which was first announced in 1995. Indeed, Oman has accomplished 70% of its ambitions in Vision 2020, Talal bin Sulaiman Al Rahbi, deputy secretary general of the Supreme Council of Planning (SCP), told...
What kind of companies are currently operating within Oman’s industrial cities, and where is the majority of foreign investment coming from?
Small and medium-sized enterprises (SMEs) are the engines of global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. In the case of the latter, the rise in the number of SMEs has been crucial to economic...
Which industries offer particular potential to expand value-added goods production in Oman?
A combination of factors, including climate change, rising energy demands and limited hydrocarbons resources, have driven Oman’s renewable energy agenda in recent years. Although renewables were estimated to have made up less than 1% of the country’s electricity mix in 2018, the Oman Power and Water Procurement Company (OPWP) aims to roll out...
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