Muscat – The Secretariat-General of Tender Board is working on establishing a National Office for Local Content, a move aimed at accelerating the sultanate’s economic development by focusing on local value creation.

This office will create a unified and comprehensive database to support strategic decision-making and set standards to measure the effectiveness of local content in achieving financial and developmental goals.

The initiative is also expected to create opportunities for SMEs and local companies, thereby boosting their competitiveness and contributing to the national economy.

Badr bin Salem al Maamari, Secretary-General of Tender Board, emphasised the importance of increasing the share of local content in government procurement contracts and projects. “Enhancing local content will lead to more efficient implementation and operations, and it is crucial to raise awareness of its significance.”

Oman’s focus on local content encompasses several key areas, including workforce development, promotion of national and local products, and support for SMEs. This approach is seen as vital for driving economic sectors, increasing the country’s gross domestic product (GDP), and improving the trade balance by reducing imports and boosting exports. “This will positively impact initiatives that enhance the efficiency of economic sectors, create jobs for Omanis and increase Omanisation rates,” Maamari added.

The National Office for Local Content will work to improve project efficiency across various sectors, providing national returns that stimulate the economy. It will collaborate with relevant authorities to develop policies and strategies, as well as incentives to support local content. The office will also conduct market analysis to identify opportunities and gaps that can be addressed to maximise local content.

Local content in Oman is built on four main pillars.

Supply Chains: This pillar covers all activities from the delivery of raw materials to the production and distribution of final products. The local content system aims to support the establishment of new facilities, enhance local industrial capabilities and encourage export of local products.

Workforce Development: The system will create job opportunities and training programmes to develop skills and increase participation of local workforce in key sectors. It will also provide support for self-employed individuals and independent professionals by reserving certain jobs for them in various projects.

Innovation and Technology Transfer: This pillar focuses on creating an environment that encourages innovation and transfer of critical technologies. It will support research and development, foster partnerships between local and international companies, and promote the use of advanced technologies.

Entrepreneurship and SME Development: The final pillar involves giving priority to local SMEs in project contracts and procurement. It includes the development of supplier programmes and incubation initiatives to support these businesses.

© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).