MUSCAT : The meeting, led by Minister Qais bin Mohammed Al Yousef, focused on localizing future industries and enhancing Oman’s industrial position in line with the Industrial Strategy 2040.

Minister Al Yousef reaffirmed Oman’s commitment to attracting high-value investments, pledging government support and incentives to drive technological advancements and job creation in the manufacturing sector.

Taiwanese tech giant EONH Private Holdings announced Oman as its first regional investment destination, with plans to establish a semiconductor chip manufacturing facility. These chips are crucial for Fourth Industrial Revolution technologies and artificial intelligence (AI).

Steve Chao, Chairman of EONH Private Holdings explained that the company chose the Sultanate of Oman as the first investment destination in the region to establish a factory specializing in semiconductor chips, which are the basis for the technologies of the Fourth Industrial Revolution and artificial intelligence, indicating that the project aims to transfer knowledge and expertise, in addition to qualifying local cadres by establishing a specialized center for training and promotion in the manufacturing sector, which contributes to enhancing the competitiveness of the Sultanate of Oman on the industrial level.

China’s Jetour, a leader in electric vehicle (EV) manufacturing, outlined an ambitious plan to invest RO 6.9 billion ($18 billion) in Oman’s EV sector. The project includes advanced battery charging and replacement technologies currently in use in China, aiming to create 10,000 jobs.

Dr. Saleh bin Saeed Masan, Undersecretary for Commerce and Industry, emphasized that these investments align with Oman’s Industrial Strategy 2040, which prioritizes capital-intensive and knowledge-based industries, including semiconductors, EVs, and batteries.

To fast-track these projects, he directed the formation of a technical team to develop an executive plan, ensuring seamless localization and integration into Oman’s economy.

Oman’s Ministry of Commerce, Industry, and Investment Promotion continues to drive initiatives that enhance economic diversification, empower the private sector, and expand industrial infrastructure across the Sultanate. These landmark investments will raise the industrial sector’s contribution to GDP, reinforcing Oman’s role as a global leader in next-generation industries.

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