{"id":1360,"date":"2025-07-12T16:33:00","date_gmt":"2025-07-12T12:33:00","guid":{"rendered":"https:\/\/omanet.om\/news\/business\/icv-strategy-fuels-omani-sme-growth\/"},"modified":"2025-07-15T16:16:29","modified_gmt":"2025-07-15T12:16:29","slug":"icv-strategy-fuels-omani-sme-growth","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/business\/icv-strategy-fuels-omani-sme-growth\/","title":{"rendered":"Unlocking Opportunities: How the ICV Strategy Opens $1.8 Billion in Energy Contracts for Omani SMEs"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitv3sog-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitv3sog-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitv3sogw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitv3soga{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitv3soga:hover{border-color:#dc262688}\r\n.hitv3sogg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p><\/p>\n<p><strong>MUSCAT:<\/strong> Oman\u2019s In-Country Value (ICV) strategy has shown impressive results in 2024, significantly enhancing job creation and economic localization within the energy and mining sectors, according to the annual report from the Ministry of Energy and Minerals.<\/p>\n<p>The Ministry reported that spending on small and medium enterprises (SMEs) reached <strong>$1.8 billion<\/strong> last year, representing <strong>17.2%<\/strong> of total procurement within the energy sector. The overall ICV rate across the sector was recorded at <strong>31.9%<\/strong>, highlighting efforts to retain more value within Oman\u2019s economy and to bolster domestic supply chains.<\/p>\n<p>A notable outcome of this strategy was the growth in employment. The oil and gas sector achieved an Omanisation rate of <strong>89%<\/strong>, employing over <strong>17,900 Omanis<\/strong> in 2024. Major operators, including Petroleum Development Oman (PDO) and Daleel Petroleum, surpassed the <strong>90%<\/strong> threshold, collectively hiring more than <strong>1,400 nationals<\/strong> throughout the year.<\/p>\n<p>Similarly, the mining sector expanded its local workforce, reaching a <strong>23%<\/strong> Omanisation rate with about <strong>900 Omani employees<\/strong> involved in its operations. Key projects, such as the Al-Ghuzayn and Al Wash-hi copper developments, are directly contributing to employment opportunities, with the former committing to <strong>50 Omani jobs<\/strong> in its initial phase.<\/p>\n<p>The report emphasized a strategic pivot from merely generating extractive revenues to creating a more inclusive economic impact. It noted that localization targets are now integrated into significant energy and mineral contracts.<\/p>\n<p>To further solidify these advancements, the Ministry launched the \u201cMajd\u201d programme in 2024, establishing a unified platform for ICV across the energy and minerals value chain. Additionally, an ICV Certificate system is currently piloting and is set for full implementation in 2025, aiming to reward companies with high local content performance through enhanced bidding privileges.<\/p>\n<p>As part of this broader initiative, <strong>23 specialized service contracts<\/strong>\u2014covering areas such as leak detection, oil tank cleaning, and hydrogen sulfide handling\u2014were awarded to local firms, increasing SME participation in technical and industrial services.<\/p>\n<p>Since the launch of Oman\u2019s ICV policy in 2013, over <strong>100 local workshops and industrial facilities<\/strong> have been established, with over <strong>$400 million<\/strong> in localization opportunities realized.<\/p>\n<p>In conclusion, the report stated that a combination of targeted policies, procurement reforms, and national workforce integration is positioning Oman to transition toward a sustainable, diversified, and resilient energy economy, aligning with the core pillars of Oman Vision 2040.<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitl8gak-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitl8gakw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitl8gaka{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p><strong>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/strong><\/p>\n<p>Oman&#8217;s robust <strong>In-Country Value (ICV) strategy<\/strong> is significantly enhancing job creation and economic localization, particularly in the energy and mining sectors. This presents a <strong>vital opportunity for businesses<\/strong> to engage with local SMEs and participate in procurement processes, especially with the introduction of the <strong>ICV Certificate system<\/strong> rewarding high local content. For <strong>investors and entrepreneurs<\/strong>, the focus on inclusivity and sustainability under Oman Vision 2040 means aligning business strategies to not only foster growth but also contribute to a resilient and diversified economy.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oman&#8217;s In-Country Value (ICV) strategy saw significant success in 2024, boosting job creation and economic localization in energy and mining. The Ministry reported $1.8 billion spent on SMEs, with a 31.9% ICV rate, highlighting a shift toward a sustainable economy aligned with Oman Vision 2040.<\/p>\n","protected":false},"author":11,"featured_media":1361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[114],"tags":[242,241,161],"class_list":["post-1360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-economic-localisation","tag-in-country-value","tag-oman"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2025\/07\/3068441.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/1360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=1360"}],"version-history":[{"count":0,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/1360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/1361"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=1360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=1360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=1360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}