Oman’s industrial sector exports to top OMR10bn by 2040

Oman’s industrial sector exports to top OMR10bn by 2040

Muscat: Oman's industrial sector exports is expected to ‎reach OMR10.7 billion by 2040, a senior official of Ministry of Commerce, Industry and Investment ‎Promotion, said.The value addition in the industrial sector ‎would grow steadily to almost four times by ‎about 40 per cent by 2040, said Engineer Salim bin Suleiman Al Hatami, Acting ‎Director of the Department of Planning and ‎Industrial Studies at the Ministry of Commerce, ‎Industry and Investment Promotion. ‎This he added was the ministry's emphasisis on Industrial Strategy ‎‎2040 to make Oman a technically advanced ‎manufacturing base. “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,” Al Hatami said. "These reviews show that the data of ‎recent years as well as those of available ‎investment opportunities and priority ‎industries were made available and included ‎those of recycling industries and ‎transportation equipment industries. These data ‎were not available before," he added. He said that it was intended to achieve a ‎nearly six-fold increase in the constant ‎value addition of high-tech and medium-sized industries, ‎as priority industries are expected to grow ‎very swiftly and much faster than any other