Muscat
The National Industries Development Committee held its second meeting of the year today in Muscat, where it discussed several strategic issues aimed at enhancing the industrial sector in the Sultanate of Oman and following up on the implementation of the recommendations from its first meeting.
The meeting was chaired by His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, with the participation of several esteemed committee members from various relevant public and private sector entities.
During the meeting, the committee addressed enhancing the competitiveness of national products, updates on gas allocation for industrial projects, the decision to ban the export of certain raw materials and recyclable industrial waste, the mandatory list of local products and services, and the review of industrial project proposals submitted by committee members.
The committee also discussed the results of an extensive study on protecting national industries conducted in the past period, the industrial performance of the Sultanate of Oman compared to several countries from which it can benefit from their advanced experiences in the industrial sector, as well as the challenges facing the sector and ways to develop it according to best global practices.
The committee concluded with a set of recommendations, including the necessity of providing incentives for factories under the automation initiative, leveraging financing programs, and proposing quality industrial projects.
The committee emphasized the importance of enhancing industrial investments, supporting local products in government tenders, providing facilities for emerging factories, and coordinating among relevant entities to ensure the achievement of the goals of the Industrial Strategy 2040 and to strengthen the role of the industrial sector in supporting the national economy.
