Muscat – Ministry of Commerce, Industry and Investment Promotion (MTCIT) unveiled a local content plan for the industrial sector called ‘Tasnee’ on Sunday.

The ministry also launched a programme called ‘Itqan’ to develop skills of Omani youth aligned with Industrial Strategy 2040 aiming to empower local talent to take leadership roles in the industrial sector and contribute to sustainable economic development.

The launch event, held under the patronage of H E Dr Said bin Mohammed al Saqri, Minister of Economy, marked a crucial step towards enhancing reliance on local products and strengthening Oman’s industrial competitiveness.

The Tasnee plan aims to increase the use of local elements in national industries, support small and medium enterprises (SMEs) and bolster local supply chains. The initiative is designed to encourage investment in manufacturing industries that add local value aligning with Oman Vision 2040 goals of economic diversification and reduced reliance on imports.

H E Dr Saleh bin Said Masan, Undersecretary for Commerce and Industry, emphasised the government’s commitment to enhancing local content, targeting increase of national production inputs to 70%. He highlighted the remarkable growth of Oman’s manufacturing sector, which contributed 12.3% to the gross domestic product at current prices by mid-2024, while constant prices reflected a 10.1% growth.

Foreign direct investment in the industrial sector surged 45.1% during the second quarter of 2024 and non-oil commodity exports reached RO4.038bn by August. These figures underscore the sector’s pivotal role in supporting Oman’s economy and driving diversification efforts.

The Tasnee plan is part of the ‘Made in Oman’ campaign to promote Omani products and encourage consumers to support local industries.

A programme called ‘Taamir’ was introduced earlier this year in collaboration with Ministry of Housing and Urban Planning to encourage use of Oman-made construction materials in large-scale projects. Agreements were signed with major real estate developers to prioritise local materials further advancing the plan’s objectives.

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