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Oman announces investment projects totaling RO 2.8 billion

Last Updated on 08th January 2024

The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) in Oman has identified up to 90 investment opportunities across eight key sectors – tourism, logistics and food, fishing, health, information and communication technology, mining and industry, waste management, and education – with a total investment potential of more than RO 2.8 billion.


A significant number of these enterprises, particularly in the tourism, food, and mining industries, are being led by public sector organisations with the government's responsibility to stimulate investment and development in their respective areas.


For example, the Oman Tourist Development Company (Omran) is leading the development of a wide portfolio of enterprises in the tourism sector that have been recognised for local and international investment.


Oman Investment Authority (OIA), Ministry of Commerce, Industry and Investment Promotion (MoCIIP), Ministry of Heritage and Tourism, Oman Food Investment Holding Company (OFIC), Public Establishment for Industrial Estates (Madayn), Public Authority for Special Economic Zones and Oman Food Investment Holding Company (OFIC) are some of the other key stakeholder institutions that play a key role in promoting key projects in their respective sectors.


In the tourism industry, 17 projects have been proposed for implementation, with some in the early phases of development. The total cost is estimated to be roughly RO 1.33 billion.


Plans for a world-class leisure and entertainment hub in Barka, mixed-use waterfront developments in Muscat and Salalah, beachfront hotel and resort developments in Muscat, Dhofar, and Musandam, ecotourism attractions in various locations, beachside resorts and marina facilities in Duqm, and wellness centres are among the projects on the list.


Mining and Industry is the next most important sector in terms of investment volume and size. A total of 57 projects are being marketed for local and foreign investment, ranging from small-scale companies to mega-projects.


They cover the production of ferrochrome, magnesium metal, industrial salt, gypsum, limestone and dolomite, sodium silicate, calcium carbonate, cement, marble, engineered quartz stones, and quarry material, and are worth about RO 620 million in total investments.


Industrial and manufacturing activities centred on evaporated and condensed milk, value-added fisheries, breakfast cereals, poultry meat, fibreglass boats, precast concrete panels, float glass, aluminium containers, pipes, PP women bags, prefab buildings, rebars, steel wire and barbed wire, wire nails, nuts and bolts, cables, steel and stainless steel are also listed as promising for investment.


Five projects in the waste management sector have a total investment potential of RO 587 million.


They comprise a variety of waste-to-energy projects, principally for the creation of electricity, but also for the production of biogas, the refining of spent cooking oil, and the processing of electrical or electronic waste.


On a 1,700-hectare property near Duqm, Fisheries Development Oman (FDO), a subsidiary of the Oman Investment Authority, wants to establish a huge shellfish project.


In the health sector, an ambitious Life Sciences Centre with an investment of over RO 100 million is proposed in South Al Batinah.


Madayn, the government-backed organisation in charge of the country's industrial cities, is looking for investors for new manufacturing hubs in Shinas, Marmul, and Thamrait.


OFIC, the government's food sector investment and development agency, has asked investors to participate in a one-of-a-kind Techno-Food Park in the capital city, which will cost roughly RO 6.5 million to build.


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