MUSCAT: The Ministry of Commerce, Industry and Investment Promotion has said that by the end of March 2022, it had received over 100 requests for details related to investment opportunities and initial feasibility studies in the industrial sector.

This comes in line with the objectives of the Industrial Strategy 2040, as part of the ministry’s initiatives to find investment opportunities for various sectors, in cooperation with the Follow-up Unit for the Implementation of Oman 2040 Vision, the Oman Investment Authority, the Public Establishment for Industrial Estates (Madayn), Petroleum Development Oman, Nama Holding Group and Mazoon Dairy Company.

The Ministry of Commerce, Industry and Investment Promotion has called on the relevant authorities – represented by Madayn, Khazaen Economic City, Oman Chamber of Commerce and Industry and local banks – to support and adopt these opportunities with their return on the local economy and support the industrial strategy 2040.

Faisal bin Saeed Al-Hakmani, Director of the Investment Opportunities Department at the Ministry of Commerce, Industry and Investment Promotion, said, “The investment opportunities offered for investment in the industrial sector amounted to 72, which were launched under the initiative of 100 industrial investment opportunities. Of which, 50 opportunities were launched last year with preliminary studies and 22 investment opportunities with contracts and advance purchase beginning of the year.”

These opportunities fall under the Ministry’s plans to develop the industrial sector by creating new economically feasible opportunities. This would help expand and diversify industrial facilities in the various governorates and states of the Sultanate of Oman. It’ll also contribute to raising the contribution of the industrial sector to the Sultanate of Oman’s GDP.

He also indicated that investment opportunities target sectors of industries that depend on local natural resources such as food industries, petrochemical industries, minerals and metals, and industries dependent on various natural resources. It also relies on capital-intensive industries such as medium and advanced technology which are used in the manufacturing of ships and electrical products, engines and structural metal products. It also depends on industries catering to knowledge, research and development which includes medical industries and environmental industries.

Investors can apply for these opportunities through the electronic platform with the availability of pre-purchase contracts.