Muscat: The Ministry of Commerce, Industry, and Investment Promotion today launched 50 investment opportunities in the industrial sector. 

The induction, held via videoconferencing, comes within the context of Oman Vision 2040 strategy and as part of government-private sector partnership aimed at diversifying the economy, generating employment opportunities, upgrading the Sultanate’s rating in international indices, maximizing foreign investment, enhancing and diversifying exports and bringing about balanced development in governorates of the Sultanate.

The initiatives complement the Economic Stimulus Plan endorsed by His Majesty Sultan Haitham Bin Tarik.

The launch ceremony was held under the auspices of Qais Mohammed al-Yousef, Minister of Commerce, Industry, and Investment Promotion.

Dr. Saleh Said Massan, Commerce and Industry Under-Secretary at the Ministry, pointed out that this investment drive was the outcome of cooperation between the Ministry and many partners in the public and private sectors, led by the Public Establishment for Industrial Estates (Madayn), Petroleum Development Oman and Oman Chamber of Commerce and Industry.

Massan said that these investment opportunities are expected to attract investments worth RO 200 million.

Meanwhile, Aseela Salim al-Samsami, the Ministry’s Under-Secretary for Investment Promotion, said that the investment opportunities in the industrial sector will have a variety of social and economic effects underpinning the Sultanate’s sustainable development plans in all governorates and reflecting positively on the State’s performance.