Industrial Strategy 2040 will help Oman become advanced manufacturing base

Industrial Strategy 2040 will help Oman become advanced manufacturing base

Muscat: The Ministry of Commerce, Industry and Investment ‎Promotion is laying emphasis on the Industrial Strategy ‎‎2040 to make Oman a technically advanced ‎manufacturing base.Engineer Salim bin Suleiman Al Hatami, Acting ‎Director of the Department of Planning and ‎Industrial Studies at the Ministry said: “Since ‎the publication of the first phase of the ‎strategy document in January 2019, the key ‎performance indicators of the industrial ‎Strategy 2040 have been reviewed and formulated ‎again.""These reviews show that the data of ‎recent years as well as those of available ‎investment opportunities and priority ‎industries were made available. They included ‎those of recycling industries and ‎transportation equipment industries. These data points ‎were not available before," Al Hatmi added."It is expected that the industrial added value ‎would grow steadily to almost four times by ‎about 40 percent by 2040, and the industrial ‎added value would also grow by about 40 ‎percent. In addition to this, an increase in the industrial sector exports is expected to ‎reach RO 10.7 billion by 2040," he said. ‎Al-Hatami said: “It is expected that the ‎strategic or priority industries will expand by ‎‎4.5 times over the next 20 years. They will be ‎driven by the group of high-tech industries