MUSCAT: The CEO of the Public Establishment for Industrial Estates, Hilal bin Hamad Al-Hasani, Madayn revealed a plan to establish 40 industrial cities in the Sultanate of Oman, up from nine currently.

In statements published by the Arabian Business magazine on its website, he indicated the trend towards establishing new industrial cities in Khasab, Ibri, Thumrait, Shinas and Al Mudhaibi. Al Hassani said, “These industrial cities will be added to the nine cities operating across the Sultanate, which will play a pivotal role in promoting comprehensive and sustainable economic and social development under the wise leadership of His Majesty Sultan Haitham bin Tarik.”

He added that Madayn aims to establish 40 industrial cities as part of Oman’s 2040 vision. He said that despite the global economic fluctuations and the impact of COVID-19, the total volume of investment in Madayn increased by 1.6 per cent, the total number of projects grew by 3.4 per cent, and the percentage of leased areas increased to 2 per cent.

He added, with the presence of local projects approaching 2,300, the total volume of investment in the industrial cities in Madayn at the moment approaches OMR 7 billion, and the Omanisation rate in these projects exceeds 38 per cent of the total workforce in the industrial cities, which represents up to 8 per cent of the total workforce. The total workforce in the private sector at the national level, exceeding 63 per cent of the total workforce in the Omani industrial sector.

Arabian Business magazine noted that Madayn recently launched its Industrial Innovation Academy to promote a diversified and sustainable economy, based on technology, knowledge and innovation.

It also announced plans for new industrial cities in the governorates of Musandam, Al Dhahirah, North Al Sharqiyah, North Al Batinah and Dhofar, and began searching for local and foreign investors to develop other industrial cities in partnership with the private sector.