Oman Advances Clean Energy and EV Technology: Key Opportunities for Business Growth and Investment
BEIJING: Dr. Saleh bin Said Masan, Under-Secretary at the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, recently conducted a field visit to several prominent factories in the People’s Republic of China. This visit is part of Oman’s ongoing efforts to attract industrial investment, aligning with the nation’s strategy to develop integrated industrial clusters and promote high-value, innovation-driven, technology-based activities.
One highlight of the tour was a visit to JA Solar, a global leader in solar energy solutions, where Dr. Masan engaged with senior executives. The delegation received an overview of the latest technologies in smart solar cell and panel manufacturing and examined the progress of JA Solar’s factory project at SOHAR Port and Freezone.
Previously, the Ministry of Commerce, Industry and Investment Promotion had signed a memorandum of understanding with JA Solar to establish an integrated solar cell and module manufacturing plant at SOHAR Port and Freezone, with an estimated investment of approximately $564 million.
During the visit, Dr. Masan reported that construction of the plant is proceeding as scheduled, reinforcing Oman’s aim to become a regional hub for clean energy technologies and supporting its commitment to achieving net-zero carbon emissions by 2050.
The delegation also visited the headquarters of BAIC Automotive, where they learned about advancements in electric and smart vehicles and advanced transportation systems. Dr. Masan highlighted the various incentives and support offered by the Sultanate to attract investment in the electromechanical and transport sectors.
He expressed the Ministry’s preparedness to facilitate the establishment of high-quality industrial projects, including joint ventures focused on the assembly and manufacturing of automotive components. These initiatives aim to diversify the industrial base and create quality employment opportunities for Omanis in engineering and digital technology, consistent with the Industrial Strategy 2040.
In concluding the tour, Dr. Masan emphasized that the visits reflect the Ministry’s commitment to a significant shift towards technology- and capital-intensive industries. He noted that collaborations with JA Solar and BAIC will enhance the manufacturing sector’s contribution to GDP and strengthen the competitiveness of national products under the “Made in Oman” brand.
Dr. Masan reiterated that the Ministry is dedicated to creating an attractive investment environment that encourages foreign direct investment and facilitates the integration of small and medium-sized enterprises into global supply chains of major international companies. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s focus on attracting high-value industrial investments is poised to create significant opportunities for businesses, particularly in the clean energy and automotive sectors. With the ambitious $564 million solar cell manufacturing plant and initiatives to localize vehicle technologies, entrepreneurs should position themselves strategically to capitalize on the evolving supply chain dynamics. However, potential investors must also be aware of the risks associated with rapid industry shifts and regulatory environments, ensuring a proactive approach to navigate market fluctuations.
