New Industrial Observatory in Oman: How It Will Accelerate Smart Industry and Boost Business Growth
MUSCAT: The Ministry of Commerce, Industry and Investment Promotion is leading a significant initiative to modernize Oman’s industrial sector through the Industrial Observatory project. This innovative platform aims to transform the Sultanate’s industrial system into a smart, data-driven engine of economic growth, aligned with Oman Vision 2040 and the nation’s economic diversification objectives.
In an interview with the Observer, Ibtisam bint Mohammed al Alawi, Director of the Industrial Observatory project and Head of the Industrial Analysis Department, explained that the Observatory serves as a unified digital platform that collects, analyses, and presents industrial data in real time. By providing accurate, evidence-based insights, the platform empowers policymakers to make informed decisions, attract investment, stimulate innovation, and foster collaboration between industry and academia.
The Industrial Observatory is designed to support industrial policy, promote innovation, enhance competitiveness, and improve sustainability. It positions the industrial sector as a crucial driver of economic diversification and investment attraction. Additionally, the platform offers valuable data to researchers, local stakeholders, and international organizations to support studies, research, and informed decision-making.
Key features of the platform include conducting annual industrial surveys, enabling companies to submit data that is then verified and audited. A digital dashboard offers a comprehensive overview of the industrial sector with customizable options to explore specific data sets. Users can search for companies and products by industry type, product classification, and geographic location. The Observatory also provides access to reports and economic indicators such as Omanisation levels, value added, exports, and imports, while linking users to key industrial platforms like Made in Oman.
The platform supports automation initiatives, identifies investment opportunities in high-demand sectors, and offers analysis and guidance for companies facing financial difficulties. It also facilitates access to industrial incentives, helping businesses leverage available support to grow and enhance performance.
Al Alawi emphasized that the Observatory guarantees data integrity through rigorous auditing and review by authorities including the National Centre for Statistics and Information. She stressed that the platform’s strategic importance lies in delivering real-time insights and accurate analyses to decision-makers, aiding effective planning and policy development under the Industrial Strategy 2040.
The Ministry highlights its collaboration with the industrial sector to align the Observatory with private sector capabilities and ensure seamless data integration across stakeholders. A vital aspect of the project is the application of artificial intelligence to refine industrial indicators, boost sector performance, and advance Oman’s vision of a knowledge-driven, competitive, and sustainable industrial economy.
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The launch of Oman’s Industrial Observatory marks a transformational shift towards a smart, data-driven industrial ecosystem, enabling businesses to leverage real-time insights for strategic growth and innovation. For investors and entrepreneurs, this creates significant opportunities to tap into high-demand sectors and benefit from targeted industrial incentives, while also highlighting the necessity to adopt digital and AI-driven approaches to stay competitive. Smart players should closely monitor this evolving landscape to capitalize on data transparency and collaboration between industry, academia, and policymakers as Oman drives economic diversification under Vision 2040.
