MUSCAT : The underscores OIA’s commitment to promote a culture of continuous improvement, celebrate distinguished companies for their contributions to achieving national goals, and encourage competitiveness towards improving performance.

The list of winning companies and their categories are as follows:

• Omantel won the “Growth and Job Creation” category for achieving revenue growth and investing 18 percent of assets in new projects, as well as for creating new jobs and increasing Omanisation rate to 94 percent.
• Ithca Group was distinguished in the “Excellence in Financial Sustainability” category, thanks to its leadership in the 2024 Financial Sustainability Assessment and achieving positive financial performance during 2024.
• Omran Group made it in the “Empowering the Private Sector and SMEs” category for demonstrating high growth in SME development and private sector engagement, and for achieving 56 percent private sector share in total investments
• OQ Group won the Excellence Award in the “In-Country Value, Research, Development, and Innovation” category after achieving the highest average spending on In-Country Value out of total supply chain spending during 2023 and 2024 and for initiating multiple research and development and product localisation projects
• ASYAD Group won the Excellence in Projects category in recognition of its Duqm Container Terminal project and for maintaining a high Omanisation rate of 70 percent and 43 percent local content in project expenses.
  
  Speaking on the occasion, His Excellency Abdulsalam bin Mohammed Al Murshidi, Chairman of the Oman Investment Authority, said: “The Authority recognises its responsibility not only in generating returns, but also in striving to achieve the national agenda, which includes contributing to economic diversification, maximising local added value, transferring knowledge and technology, providing jobs for Omanis, and building an exemplary institutional model in governance and sustainability.”
  
  His Excellency pointed out that the Authority’s Excellence Award translated these national trends, as companies demonstrated tangible improvement in their revenues during 2024 compared to 2023. They also implemented new investments through approved projects, expanded operational projects that supported the local market, and paid continued attention to raising Omanisation rates.
  
  His Excellency added that these companies also focused on maximizing local impact by increasing the percentage of local spending in procurement and supporting local suppliers through supplier development programs and programs to customize products and services for the local market. Spending on small and medium enterprises reached RO 265.5 million, with the development of more than 50 innovative projects, raising the percentage of local added value to 32 percent in 2024 – compared to 23 percent in 2023.
  
  The awards ceremony was held on the sidelines of the ninth Rabawet Forum, organised by the Authority under the patronage of His Excellency Dr. Khamis bin Saif Al Jabri, Head of the Oman Vision 2040 Implementation Follow-up Unit. This edition of the forum highlighted innovation and the alignment of the Authority’s plans and those of its subsidiaries with national priorities in preparation for the future.
  
  The Authority reviewed its role in achieving the national agenda in various fields, focusing on developing the Sultanate of Oman’s human capital. The number of new jobs for Omanis created over the past four years in the Authority and its subsidiaries exceeded 6,500, with an Omanisation rate of 77.7 percent of the total 41,000 employees.

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