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7 clusters · 16 sources · 32 days · First seen · Last updated

Oman economic diversification and development initiatives

Overview

Oman is pursuing economic diversification and infrastructure development through various regional initiatives and long-term strategic planning. In the Dhofar Governorate, Oman and Bahrain have strengthened bilateral trade through the ninth Bahrain–Oman Products Exhibition in Salalah. Concurrently, the Oman Chamber of Commerce and Industry organized a Food Security Forum to highlight investment opportunities in the agricultural, livestock, and fisheries sectors.

Expanding on these efforts, Oman has announced the development of four new industrial cities as part of its 11th Five-Year Development Plan (2026-2030) and Oman Vision 2040. Managed by the Public Establishment for Industrial Estates (Madayn), these integrated cities will be located in the Musandam, North Al Batinah, North Al Sharqiyah, and Dhofar Governorates. Oman’s industrial sector is undergoing a qualitative transformation under the Industrial Strategy 2040, shifting toward modern technologies and local supply chains. Manufacturing’s contribution to GDP reached 869 million Omani Rials in the first quarter of 2026, with a target of 10.702 billion Omani Rials by 2040.

In the North Al Batinah Governorate, construction has commenced on several new factories and investment projects at Al Suwaiq Industrial City. Mundhir bin Ali Al Nasseri, Acting Director General of Al Suwaiq Industrial City, reported that investment projects localized this year exceed US $3.6 million, covering more than 80,000 square meters of leased area. These projects span sectors including polyethylene production, industrial oil refining, ceramic tile manufacturing, and polymer modified bitumen. Madayn is currently evaluating additional applications for projects involving electric motors, generators, soft drinks, and cosmetics.

Entities

Oman · Madayn · National Centre for Statistics and Information · OMRAN · Khalid Sulaiman Al Salehi

Timeline

  1. 3 days ago

    [BUSINESS] 2 sources
    Al Suwaiq Industrial City begins construction on new projects in Oman

    Al Suwaiq Industrial City in Oman has commenced construction on new projects, bringing cumulative investment volume to over US $5.2 million across various manufacturing sectors.

  2. 5 days ago

    [BUSINESS] 2 sources
    Oman trade surplus rises 51 percent to $12.23 billion

    Oman’s trade surplus grew 51 percent to $12.23 billion by June 2026, driven by rising oil, gas, and non-oil exports. The UAE remains a primary partner for Omani non-oil goods.

  3. 9 days ago

    [BUSINESS] 2 sources
    Orascom and Muriya advance tourism investments in Oman

    Orascom Development and Muriya are advancing tourism projects in Oman, having invested over US$750 million in destinations like Hawana Salalah and As Sodah Island to support Oman Vision 2040.

  4. 14 days ago

    [BUSINESS] 2 sources
    Oman unveils RO 1.95 billion investment opportunities in Dhofar

    Oman has announced RO 1.95 billion in investment opportunities in Dhofar, headlined by the RO 1.9 billion Future Salalah City project to drive urban and economic growth.

  5. 17 days ago

    [BUSINESS] 3 sources
    Oman industrial sector sees rapid growth and qualitative investment

    Oman's industrial sector is transitioning toward high-tech integration under its Industrial Strategy 2040, targeting a manufacturing GDP contribution of over 10 billion Omani Rials by 2040.

  6. 30 days ago

    [BUSINESS] 5 sources
    Oman to develop four industrial cities under 2026-2030 plan

    Oman will develop four new industrial cities in Musandam, North Al Batinah, North A’Sharqiyah, and Dhofar under its 2026-2030 development plan to support economic diversification and Vision 2040.

  7. about 1 month ago

    [BUSINESS] 2 sources
    Oman hosts economic initiatives in Salalah to boost SME trade and food security

    Oman and Bahrain are strengthening economic ties through an SME products exhibition in Salalah and an upcoming national food security forum focused on agricultural investment and technology.

Sources

bierun.com · bigprojectme.com · cbnlb.com · contigoeconomia.com · economymiddleeast.com · emirates247.com · evere.co · floraldaily.com · hortidaily.com · ien.sa · meconstructionnews.com · novumpr.nl · rock967online.com · sadanews.ps · thearabianstories.com · worldstopexports.com

This summary has been updated 4 times: see revision history