Economy

Oman’s Business Leaders Extend Their Greetings to His Majesty on Renaissance Day

The who’s who of the business community in Oman extended their good wishes to His Majesty Sultan Qaboos bin Said on the occasion of the 49th Renaissance Day.

The initiative, undertaken by BusinessLive Middle East, also saw business leaders – namely C-suite executives – from various sectors in Oman, share their thoughts on the current business environment.

Oman’s digital transformation & the 4th industrial revolution

Eng. Maqbool Al Wahaibi, CEO, Oman Data Park shed light on the 4th industrial revolution and Oman’s journey towards a digital future. “The small and medium enterprises in Oman have, in particular, been utilising the opportunities presented by the fourth industrial revolution in order to create their own ventures,” he affirms. “Attracting FDIs is also something Oman is looking at. From a technology perspective, we are very keen on attracting foreign investment in order to leverage and leapfrog towards the 4th industrial revolution.”

Oman’s ranking in the Logistics Performance Index rising consistently

Port of Duqm CEO, Reggy Vermeulen states that Oman’s ranking in the Logistics Performance Index has been consistently rising. “This proves that the efforts that have been undertaken by the logistics sector and the Port, in particular, are now paying off.” Port of Duqm has played a vital role in transforming not only the logistics sector in Oman but also the development of the port itself.

Manufacturing sector in Oman undergoing rapid transformation

OCTAL has already been making the headlines after securing a $625 million financing deal earlier this month. A deal that has been hailed as the biggest in Oman within the last decade. OCTAL’s Chief Executive Officer Nicholas Barakat said, “OCTAL is proud to continue positioning Oman at the forefront of the manufacturing industry and a hub of excellence for knowledge transfer and innovative technology in sustainable packaging solutions.”