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Delegate taking part in a previous session.

Focus on Oman manufacturing at Ithraa forum

MUSCAT, September 21, 2016

Oman's manufacturing sector, which has been helping power economic growth, create jobs and raise living standards, will be the focus of discussion at today's Inside Stories session organised by Ithraa, the sultanate’s inward investment and export promotion agency.

Manufacturing is the engine that drives innovation, it transforms research into new products and production processes that generate profits and make the world a better place. It has created new and vital industries and products ranging from PCs and mobile phones to biotechnology and solar power, said Ithraa.

Today, Oman is benefiting from a surge in manufacturing and production of world-class and highly sought after goods is soaring. Amongst them are batteries, plastic, marble, cables, fragrances, steel, hand-made chocolates, ceramics, women’s fashion and precision engineering.

The Sultanate’s non-oil exports hit $8 billion up from $650 million in 2002 and locally produced goods are today exported to 140 countries worldwide, it said.

“We see a promising future for Omani manufacturing. In fact, many believe Oman made products have the perfect trifecta of quality, safety and good value for money,” said Taleb Al Makhmari, Ithraa’s acting director general of marketing and media and organiser of the annual Inside Stories initiative.   

“Given our geographic position and advantages in logistics, talent and infrastructure Oman’s manufacturers are well positioned to compete internationally. Our manufacturing sector is a truly global business that is essential to the long-term health of the Sultanate’s growing economy,” explained Al Makhmari.

Generously supported by BP Oman, Bank Muscat, Al Wisal, Merge 104.8FM, Al Roya and Times of Oman, Ithraa’s Inside Stories initiative has been designed to discuss the opportunities and trends that are redefining what it means to be in, and start, a business today.

Held at Bank Muscat’s Head Office in Airport Heights, the session begins at 7:30 pm and will be moderated by Dr Wail Al Harrasi, corporate technology advisor, Petroleum Development Oman, and panelists include: Shadya Al Ismailiya, founder, Deema Oman; Nicolas Barakat, CEO, Octal; Eng Abdullah Al Wahaibi, business development manager, Voltamp Energy; and Shatha Abbas, director, The Nejd.  

Along with examining the use of sensors, intelligent robots and big data analytics, the session will also consider the rise of middle class consumers in the emerging markets of Asia and Africa.

Research estimates that by 2030, Asia will represent 66 per cent of the global middle class population and 59 per cent of middle class consumption. In addition to Asia, the number of middle class households in 11 key Sub-Saharan African countries – excluding South Africa – are set to triple to 22 million by 2030. “This offers Omani manufacturers huge export opportunities,” pointed out Al Makhmari.

The session will also focus on the public’s perception of manufacturing, one that still often involves large factories, long production lines and heavy machinery.

“Rather than a dirty, dangerous and disappearing industry, Omani manufacturing must be seen as a mechanism for driving innovation. It is a sector that should be viewed as smart, safe, sustainable and surging. One that is attracting significant inward investment, powering exports and creating jobs,” stressed Al Makhmari. - TradeArabia News Service





 




Tags: industry | manufacturing | Ithraa |

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