55 Million Omani Riyals Investment in Medical Industries: Implications for Business Growth in Rusayl Industrial City
Industrial Growth in Salalah Boosts Pharmaceutical Sector
On July 9, the industrial city of Raysut, part of the Public Authority for Industrial Estates (Madayn), is witnessing significant activity in expanding contracts for medical industries and their requirements. This effort aims to enhance pharmaceutical security in the Sultanate of Oman and meet both local and regional market needs.
Currently, the industrial city is finalizing contracts for the establishment of three specialized projects focused on the production of eye drops, blood bags, and various medical products. Additionally, there is an ongoing project dedicated to veterinary industries.
Raysut Industrial City hosts three existing projects in the medical sector, with a total investment exceeding 55 million Omani Rials. These projects occupy an area of 72,000 square meters and produce a range of products, including antibiotics, hormones, topical preparations, effervescent tablets, solid and liquid pharmaceutical forms, intravenous solutions, dialysis solutions, along with medical gloves, masks, cotton, bandages, and adhesive tapes, among others.
Madayn aims to attract investments in the medical industry to enhance pharmaceutical security in Oman. This initiative encourages both national and international investments in medical industries, reduces reliance on imported medications, and increases local production to meet domestic needs.
Special Analysis by Omanet | Navigate Oman’s Market
The recent expansion of medical manufacturing in Ras Al Jinz Industrial City signifies a pivotal shift toward enhancing Oman’s pharmaceutical security, creating a realm of opportunities for businesses seeking to invest in the local market. With over 55 million OMR funneled into this sector, entrepreneurs should consider engaging in partnerships or innovative initiatives in pharmaceutical production to capitalize on this growth. However, rising competition and the need for high-quality standards pose risks that necessitate thorough market research and strategic planning for sustainable success.
Source: Oman News
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