[REVISION HISTORY]

Oman economic diversification and development initiatives

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2026-09-03 22:35 UTC → 2026-09-08 09:30 UTC · added ~~removed~~

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. ~~Non-oil commodity exports reached 2.739 billion Omani Rials as of May 2026, while re-exports rose by 64.4 percent to over 1 billion Omani Rials. Recent developments in the Dhofar region include~~ In the ~~unveiling of~~ North Al Batinah Governorate, construction has commenced on several new factories and investment ~~opportunities totaling approximately RO 1.95 billion via the ‘Invest in Oman’ digital platform. The most significant project is the Future Salalah City, valued~~ projects at ~~roughly RO 1.9 billion, an integrated urban development spanning up to 10~~ 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 ~~kilometers. Other regional~~ meters of leased area. These projects ~~include the RO 40 million Sahool Al-Rathath urban development~~ span sectors including polyethylene production, industrial oil refining, ceramic tile manufacturing, and ~~a RO 4 million ecotourism project at the Razat Plain. Tourism infrastructure~~ polymer modified bitumen. Madayn is ~~also expanding through a partnership between Orascom Development~~ currently evaluating additional applications for projects involving electric motors, generators, soft drinks, and ~~Muriya Tourism Development, which has invested over US$750 million alongside OMRAN.~~ cosmetics.

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