Omani Industry Day Highlights Local Products’ Global Competitiveness: Insights for Investors and Entrepreneurs
MUSCAT: The Ministry of Commerce, Industry and Investment Promotion marked Omani Industry Day on February 15, 2025, celebrating with significant participation from the industrial and investment sectors. This year’s theme, “From Oman to the World: Competitive Industry and a Global Vision,” emphasized the vital role of industrial exports in enhancing Oman’s economic profile both regionally and internationally.
The event was held under the auspices of Abdulsalam bin Mohammed al Murshidi, Chairman of the Oman Investment Authority, and attended by Anwar bin Hilal al Jabri, Minister of Commerce, Industry and Investment Promotion. The celebration focused on showcasing the quality and competitiveness of Omani products in global markets and aimed to foster collaboration among government entities, manufacturers, and exporters. Insights gained from Omani Industry Day 2025 will inform future policies and initiatives.
In his address, Eng Khalid bin Salim al Qasabi, Director General of Industry, reiterated the Ministry’s dedication to the Industrial Strategy 2040, which seeks to cultivate an advanced industrial base centered on innovation and value creation. This strategy aims to enhance the sector’s contribution to GDP in alignment with Oman Vision 2040 priorities.
By 2025, the manufacturing sector’s contribution to GDP reached approximately RO 3.879 billion, representing a growth of 7.2% from the previous year. Foreign investment in the sector surged to RO 3.490 billion, reflecting a 24.6% increase, while non-oil exports climbed to RO 6.885 billion, a 10.5% rise compared to the previous year. Employment within the industrial sector rose to 248,000, an increase of 3% from 2024. Additionally, 166 industrial establishments received the National Product Identity, and 439 exemption applications were approved, illustrating the effectiveness of incentive and support measures.
Dr Hilal bin Abdullah al Hinai, Chairman of the Omani Manufacturers Association, stressed the importance of transitioning from merely increasing export volume to developing deeper production knowledge and enhancing product complexity. The Association intends to launch targeted capacity-building initiatives, including an Economic Complexity Performance Card and the establishment of a standards support fund to assist 30 factories in acquiring international accreditations, while also addressing gaps in precision manufacturing through specialized partnerships.
Faisal bin Abdullah al Rawas, Chairman of the Oman Chamber of Commerce and Industry (OCCI), described the sector’s rapid growth as indicative of economic strength and investor confidence. The Chamber is committed to supporting private sector empowerment and partnerships aimed at bolstering competitiveness and expanding international presence, in line with Oman Vision 2040.
The event featured the inauguration of the Industrial Observatory, designed to bolster the availability of industrial sector indicators and strengthen its role as a data-driven economic entity. Engagement with industrial establishments will promote integration, align expectations, and encourage information sharing among stakeholders. An expert committee has been established to coordinate efforts between public and private sectors, aligning industry requirements with education and training outcomes, and preparing national talent for future demands.
Multiple strategic programs and agreements were signed, including the “Kafa’a” Lean Manufacturing Programme, aimed at transferring and localizing lean manufacturing methodologies, and a partnership with the Ithca Group to support the Advanced Automation Centre. Furthermore, the Omani Manufacturers Association unveiled plans to expand its awards program, prioritizing high-complexity products, knowledge transfer, export flexibility, and local added value.
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The celebration of Omani Industry Day signals a pivotal shift in enhancing Oman’s competitive edge in global markets, presenting significant opportunities for businesses to forge international partnerships and expand into new regions. Investors should recognize the surge in foreign direct investment and the emphasis on innovation, as these factors pave the way for increased returns and sector growth. However, a focus on enhancing product complexity and knowledge transfer implies a need for companies to adapt and invest in skill development to stay competitive in this evolving industrial landscape.
