Oman: Work Forum 2025 focuses on labour market and skills economy
Held under the auspices of Dr Mahad bin Said Ba'owain, Minister of Labour, the forum serves as a national platform for open dialogue on employment, productivity, and workforce transformation in line with Oman Vision 2040. Over the course of the forum, 33 expert papers will be presented, addressing key challenges and opportunities in the labour market, and showcasing best practices from the region and beyond.
The event convenes senior officials, business leaders, international experts, academics, and policy-makers—all focused on reimagining Oman's employment landscape in a world shaped by digital transformation, automation, and sustainability.
In his opening remarks, Nasser bin Salim Al Hadhrami, Director-General of Labour in Dhofar, said: 'We are witnessing rapid shifts in labour markets worldwide. Challenges such as skill mismatches cannot be tackled in isolation. Oman recognises this and has taken decisive steps—most notably with the issuance of the new Labour Law and Social Protection Law. These reforms are not just reactive, but proactive measures rooted in global best practices and local realities.'
He added that Oman is pursuing integrated strategies across education, training, employment, and legislation to future-proof its workforce and ensure decent work opportunities for all.
Mohamed bin Hassan Al Obaidli, Director-General of the Executive Office of the GCC Council of Labour Ministers, called for collective action in facing the disruptions brought by artificial intelligence, green technologies, and economic transitions.
'These changes are reshaping the very nature of work,' he said. 'It is our shared responsibility—as governments, institutions, and social partners—to rethink employment policies, skills training, and social protection models that are inclusive, forward-looking, and fair.'
From the Organisation of Islamic Cooperation (OIC), Azar Bayramov, Director-General of the OIC Labour Centre, emphasised the need for deeper bridges between national strategies and regional solidarity.
'Our goal is to achieve decent work for all,' he said. 'In line with that, we have designed targeted capacity-building programmes tailored to the needs of each OIC member state. One such initiative—a training on effective leadership in occupational health and safety—will begin right after this forum here in Oman.'
The forum is backed by a coalition of strategic partners, including the Oman Chamber of Commerce and Industry, the General Federation of Oman Workers, vocational colleges, and the Public Authority for Special Economic Zones and Free Zones. Key regional bodies such as the Arab Labour Organization, Arab Administrative Development Organization, and GCC labour and social affairs entities are also participating.
The multi-day programme, which runs through August 14, features a student innovation exhibition, a roundtable between the Minister of Labour and private sector leaders, the Future of Work Forum, and a conference on Government Transformation and Sustainable Leadership. It concludes with a Train-the-Trainers programme on safety leadership.
At its core, Labour Forum 2025 reflects Oman's national commitment to empowering human capital, fostering innovation and entrepreneurship, and building a sustainable labour market that meets the demands of tomorrow.
2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
19 minutes ago
- Khaleej Times
UAE's GDP to surge stronger in 2026 on back of buoyant financial system: CBUAE
The overall growth trajectory of the UAE economy is expected to continue its upward trend, with the Central Bank of the UAE (CBUAE) forecasting 4.4 per cent growth in 2025 and a stronger rise to 5.4 per cent in 2026. Unveiling its 2024 Financial Stability Report, the apex bank portrayed a buoyant financial system and projected reassuring economic growth for the years ahead. The optimistic outlook is reinforced by independent forecasts from the International Monetary Fund (IMF) and the World Bank, offering further validation of the UAE's stability and resilience. CBUAE's report highlights that real GDP grew by four per cent in 2024. Non‑hydrocarbon sectors led the charge, expanding by around five per cent, while the hydrocarbon sector rebounded modestly by one per cent. Independent institutions echo this confidence. The IMF projects real GDP growth of roughly four per cent in 2025, increasing to five per cent in 2026. The World Bank has revised its estimates upward, now forecasting UAE GDP growth of 4.6 per cent in 2025 and 4.9 per cent in both 2026 and 2027, with the non‑oil economy expected to expand by 4.9 per cent in 2025. Meanwhile, the World Bank projects GCC-wide growth of 3.2 per cent in 2025, rising to 4.5 per cent in 2026. CBUAE Governor Khaled Mohamed Balama emphasised that prudent policies, robust fundamentals, and proactive regulatory frameworks have helped insulate the UAE from growing global risk and support sustained momentum. This aligns with national strategies and global leadership aspirations, as the financial system evolves to support long-term economic vision and growth . Growth drivers in 2025–26 are expected to include both oil and non‑oil sectors. Hydrocarbon-related GDP is forecast to grow by 4.1 per cent in 2025 and surge by 8.1 per cent in 2026 amid easing Opec+ production quotas. Non‑hydrocarbon activity is likely to sustain a 4.5 per cent growth rate over both years, backed by public investment, diversification strategies, and private-sector dynamism. International observers highlight the UAE's capacity to maintain stronger-than-average growth compared to its regional peers. As the IMF notes, GCC growth is projected at 3 per cent in 2025 and 4.1 per cent in 2026, while non‑oil exporters in Mena continue to face slower prospects amid global uncertainty. The World Bank stresses that careful public spending in infrastructure, education, and green energy is key to translating growth into resilience across the region. According to economists, in practical terms, the outlook suggests that the UAE will remain a magnet for investment and capital inflows, supported by surpluses, moderate inflation, and stable sovereign buffers. The World Bank anticipates the current account surplus standing at around 6.2 per cent of GDP in 2025, rising further to 6.4 per cent in 2026. Job creation is expected to remain healthy as well, with employment growth projected at 3.3 per cent in 2025 and an unemployment rate holding at around 2.1 per cent. In sum, CBUAE's 2024 Financial Stability Report, supported by independent global institutions, presents a compelling picture of a UAE economy underpinned by safeguarding regulations, innovation, and prudent fiscal management. 'With diversified growth engines firing across oil, finance, tourism, and logistics, enhanced oversight structures, and digital transformation marking progress, the outlook through 2025 and 2026 is decidedly optimistic,' says Sunil Ambalavelil, a leading financial and legal consultant. 'The UAE appears well positioned to deliver sustained stability, moderate but steady expansion, and resilience even against a shifting global economic backdrop,' Ambalavelil added. These forecasts provide robust endorsement of the CBUAE's internal projections and reflect international confidence in the UAE's economic strategy—particularly its diversification and reform agenda. CBUAE emphasises that the stability of the financial system is underpinned by strong capital and liquidity buffers, improved asset quality, and effective macro‑prudential regulations. The introduction of the UAE Financial Stability Council in 2024 has enhanced coordination among key stakeholders, facilitating faster responses to systemic risks and improving oversight. Stress tests commissioned by CBUAE confirmed banks' ability to withstand adverse scenarios while continuing to extend credit and maintaining sufficient capital above regulatory minimal. The report also notes resilience among non‑bank financial institutions. The insurance sector saw written premiums rise 21.4 per cent in 2024, reaching Dh64.8 billion, while finance companies and money exchanges maintained healthy capital and liquidity positions. Digital innovation accelerated in 2024 with expanded FinTech adoption and rollouts like the Domestic Card Scheme 'Jaywan', the Aani Instant Payment Platform, and the advancing 'Digital Dirham' central bank digital currency pilot—these initiatives bolstered efficiency, inclusion, and systemic resilience, the report said.
Khaleej Times
19 minutes ago
- Khaleej Times
Dubai real estate sales on the rise again as July delivers growth in value, volume
The Dubai real estate market continued along its upward path in July, producing the highest number of property transactions this year, and the second-best monthly sales performance on record in terms of value and volume. A market update issued by fäm Properties reveals that last month brought a total of 20,304 property sales - a 24.9 per cent year-on-year increase – worth a total of Dh65 billion, a 29.5 per cent leap in value on the same month last year. Apartment sales showed a 28.1 per cent year on year growth to 16,272 deals valued at Dh32.2 billion, while the biggest sector leap saw commercial property transactions rise by 57.8 per cent to 606 worth Dh1.5 billion. Villa sales of Dh19.3 billion were up by 6.4 per cent in volume to 2,988 compared with the same month last year, while plot sales rose by 22.3 per cent to 438 transactions worth Dh12 billion. The average price per sq. ft was up by 9.5 per cent to Dh1,649 compared with July last year. Data from DXBinteract shows Dubai property sales in July have now soared over the last five years - from Dh4.5 billion (2,300 transactions) in 2020 to Dh11.2 billion (4,400) in 2021, Dh21.3 billion (7,200) in 2022, Dh37.8 billion (11,200) in 2023 and Dh50.2 billion (16,300) in 2024. Firas Al Msaddi, CEO of fäm Properties, said: 'The level of activity last month once gain underlines the strength and maturity of Dubai's real estate sector. Dubai has shown it can sustain growth through different cycles, supported by clear regulation, strong investor sentiment, and a steady pipeline of new opportunities. July's figures are another clear signal that confidence in the market remains high, both locally and internationally.' The most expensive apartment sold during the month went for Dh174 million at Aman Residences Dubai, Tower 1 at Jumeirah Second. The top performing area in terms of overall value was Wadi Al Safa 3 with 1,210 property sales worth 6.011 billion. The top performing area in terms of volume was Al Barsha South which produced 1,846 transactions valued at Dh2.047 billion. With properties worth more than Dh5 million accounting for 13 per cent of total sales, 37 per cent came in the Dh1-2 million range, 25 per cent below Dh1 million, 14 per cent between Dh2-3 million and 11 per cent between Dh3-5 million. Overall, first sales from developers were significantly greater than those of resales - 71 per cent over 29 per cent in terms of volume, and 65 per cent against 35 per cent in overall value.
Khaleej Times
an hour ago
- Khaleej Times
Fertiglobe's revenue grows 14% to $566m in the second quarter
Fertiglobe, the world's largest seaborne exporter of urea and ammonia combined and the largest nitrogen fertiliser producer in the Middle East and North Africa region and Adnoc's low carbon ammonia platform, on Monday announced a revenue of $566 million, reflecting a 14 per cent year-on-year increase in the second quarter. Adjusted Ebitda grew 26 per cent to $176 million, with adjusted net profit attributable to shareholders stood at $12 million, representing a 68 per cent increase compared to Q2 2024. In the first half of 2025, Fertiglobe reported revenue of $1.26 billion, reflecting a 20 per cent increase year-on-year increase. Adjusted Ebitda for the period stood at $437 million, up 36 per cent year-on-year, while adjusted net profit attributable to shareholders stood at $85 million, representing an 18 per cent decline compared to the prior year, driven by a one-off forex gain in H1 2024. Ahmed El-Hoshy, CEO of Fertiglobe, commented: 'This quarter demonstrated Fertiglobe's growing operational resilience, with an adjusted Ebitda increase of 26 per cent Y-o-Y. Fertiglobe remains strategically placed to deliver robust performance and maintain operational continuity amid challenging conditions. We capitalised on the downtime in Egypt to perform critical maintenance activities, successfully extending the turnaround cycle, with maintenance capex expected towards the lower end of our previous guidance at $145 million. Notably, excluding external factors and turnarounds, our own-produced sales volumes for the second quarter of 2025 would have been up 4 per cent Y-o-Y, while H1 2025 own-produced sales volumes would have increased 7 per cent Y-o-Y. With the continued support of Adnoc, we remain confident in our strategic path to become a globally integrated nitrogen champion and creating long-term value for shareholders, while continuing to innovate and differentiate our solutions that support global food security and enable the energy transition.' The company proposed H1 2025 dividends of at least $100 million (4.4 fils per share), subject to board approval in September with payment in October. Including the $31 million worth of shares bought back in Q2 2025, Fertiglobe provides one of the highest total return metrics in the industry at the combined $131 million cash returns to shareholders for H1 2025. Additionally, Fertiglobe continues to execute on its announced 2.5 per cent share buyback programme, aimed at opportunistically capitalising on the stock's attractive valuation. As of 1 August 2025, Fertiglobe repurchased 55 million shares, representing 0.66 per cent of total outstanding shares. While Fertiglobe remains dedicated to advancing its low-carbon project portfolio, the Company recognises that the global low-carbon ammonia market remains in the early stages of development, with regulatory frameworks and demand signals continuing to evolve. As such, and in line with Fertiglobe's disciplined approach to capital deployment across its low-carbon ammonia project pipeline, Fertiglobe has taken the decision to rephase Project Rabdan1F, a 1 mtpa low-carbon ammonia project and associated auto-thermal reformer. This decision reflects the Company's prudent investment strategy and commitment to timing capital allocation effectively and is consistent with the broader objectives of the Grow 2030 Strategy, particularly its focus on disciplined low-carbon growth. In addition, Fertiglobe expects its recently announced proposed acquisition of the distribution assets of Wengfu Australia to play a key role in strengthening its downstream presence in high-netback markets, in line with its strategic focus on customer proximity. Wengfu Australia's distribution assets are also projected to enhance supply chain resilience and unlock long-term distribution synergies. The transaction is subject to regulatory approvals and is anticipated to close in H2 2025. As of 30 June 2025, Fertiglobe reported a net debt position of $909 million, implying a consolidated net debt to LTM adjusted Ebitda ratio of 1.0x. This strong financial position enables the Company to effectively balance growth investments and shareholder distributions, supported by robust free cash flow generation and a solid balance sheet. Fertiglobe is also set to realise $10 million of annual run rate interest savings in 2025, following credit rating upgrades by S&P, Fitch, and Moody's and driven by Adnoc's acquisition of a majority stake in Fertiglobe. These savings are further underpinned by the refinancing of our $300 million loan through the internal Adnoc bank and the recent repricing of a $1.1 billion term loan, supporting lower financing costs and contributing to earnings accretion in the quarter
