logo
Oman: Strategic pacts to strengthen port infrastructure and expand services

Oman: Strategic pacts to strengthen port infrastructure and expand services

Zawya05-05-2025
Muscat: Asyad Group, global integrated logistics provider, reaffirmed its pivotal role in shaping the Sultanate of Oman's logistics future through its active participation in the Logistics Day 2025 organized by the Ministry of Transport, Communications, and Information Technology. The Group continues to deliver on its mandate to enhance Oman's global competitiveness, leveraging its integrated solutions, sustainable initiatives, and strategic partnerships to create a resilient, investor-friendly logistics ecosystem aligned with Oman Vision 2040.
During the event, Asyad presented a paper titled 'Asyad's Role in Empowering Oman's Logistics Sector: Growth, Resilience, and Opportunities, ' highlighting the pillars of its comprehensive strategy to develop a globally connected logistics network, expand its footprint across international markets, empower local private-sector players, and unlock opportunities for Omani talent. The presentation also shed light on the Group's 2024 milestones: a pivotal year marked by its first international acquisition. This move expanded Asyad's operational presence to over 90 locations worldwide and underscored its sustained financial and operational growth driven by innovation and excellence.
Further supporting port development and value-added services, Asyad Ports and Freezones signed an agreement with O Bunkering Company to deliver bunker fuel services at Sultan Qaboos Port, enhancing Oman's maritime readiness and attracting new commercial activities.
Reinforcing its commitment to growth and innovation, SOHAR Port and Freezone signed three major agreements to support the development of its LNG terminal. The port partnered with WSP Middle East – Oman for engineering consultancy and project management services, Boskalis for dredging 3.8 million cubic meters of marine material, and Six Construct for constructing the LNG jetty and coastal protection infrastructure.
SOHAR Port and Freezone also earned national recognition at the Ministry's Logistics Best Practices Awards. The 'Marasi' Port Management System won first place in the Continuous Improvement and Innovation category after achieving 90% digitalization in maritime operations and reducing paperwork by 85% through smart operating tools. The port also secured second place in the Net Zero category for pioneering the use of biodiesel produced from recycled cooking oil, in marine tugboats, a first for any port in the Middle East.
Demonstrating its commitment to enhancing urban mobility integration, Mwasalat signed two strategic agreements. These included a first-and-last-mile service development initiative connecting micro-mobility to public transport in select higher education institutions Muscat and Salalah in partnership with the University of Technology and Applied Sciences; and an agreement to develop an integrated public transport station in North Al Batinah in coordination with the Office of the Governor of North Al Batinah. These efforts aim to boost urban mobility efficiency and contribute to broader sustainability objectives.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Circular economy and local added value in Oman
Circular economy and local added value in Oman

Zawya

time11 hours ago

  • Zawya

Circular economy and local added value in Oman

The Sultanate of Oman is now in full acceptance of the circular economy concept which is known as a restorative and regenerative system which looks at waste as a potential resource. This shift is reflective of the Oman Vision 2040, which is the country's holistic development plan focusing on economic diversification, sustainability, human capital development, education, social equality, innovation, and a healthy environment. The circular economy is supportive of these objectives by transforming waste into business opportunities that bolster the economy while creating domestic jobs, conserving resources, and mitigating environmental damage. Oman's circular economy initiatives are already yielding some local results which include, amongst others, more than 2300 direct jobs. These initiatives include Waste-to-Energy projects, PET recycling, water reuse, and SME participation. Also observed are the import substitution of recycled materials, the development of innovation ecosystems, and the reduction of greenhouse gas emissions. The circular model is thus not only an environmental imperative, but a key driver of local value creation. This paper adds to the discussion of Oman's circular economy which is still emerging, the key national institutions such as be'ah, the flagship infrastructure and recycling projects, and their role in local value creation aligned with Vision 2040. OMAN'S STRATEGIC FOUNDATIONS FOR CIRCULARITY The Oman Vision 2040 focuses on transitioning the Sultanate into a diversified, sustainable, knowledge-driven economy. It fosters private-sector leadership while enhances human capital and economic conserves environmental diversifies. The circular economy provides a practical framework to advance all these pillars in parallel. The government has established a National Local Content Policy (2024–2030) which focuses on increasing the in-country value for all economic activities. The policy aligns well with circularity as it promotes local supply chains, prefers SMEs for government contracts and encourages sourcing of materials and services domestically. The rest of the regions industrialized zones (Suhar, Duqm, Salalah, and Al Mazunah) strategically positioned to integrate recycling, repurposing, and green manufacturing. Along with ESG (Environmental, Social, Governance) frameworks introduced by the Oman Investment Authority, there is strong institutional support for a circular transition. Geographic and demographic Oman unique characteristics also offer advantages. The arid land, abundant solar radiation, and young, educated people are well positioned to innovate in water reuse, renewable energy, composting, and low-waste agriculture. INFRASTRUCTURE & INSTITUTIONAL SYSTEMS Oman is one of few countries leading investments towards circular economy infrastructure. The most prominent example is be'ah – Oman Environmental Services Holding Company – responsible for the solid waste management system of the country. Be'ah's mandate also focuses on lowering waste generation, increasing recycling and reuse, and reduced reliance on landfills. Currently, be'ah oversees more than 10 operated engineered landfills that include the major facilities in Barka and Suhar. The hazardous waste treatment plant in Suhar is one of the largest in the region petrochemical and industrial clusters in the north. In addition, there is a waste-to-energy plant in Barka that is under construction which is expected to process 4,500 tons of municipal solid waste daily and provide electricity to the national grid. In partnership with Sultan Qaboos University, a pilot biogas plant has been started with the treatment of organic waste from households and farms. Such initiatives not only provide clean energy but also promote technological and workforce innovations. Another crucial component is treated wastewater. Oman reused about 51 percent out of 96 million cubic meters of treated wastewater in 2023, particularly in industrial and agricultural sectors. This substitution also reduced CO₂ emissions by almost 291,000 tonnes. Oman is also working on expansion plans that will increase the tertiary treatment of water to one million cubic meters daily by 2040. ASPECTS OF VALUE ADDED WITHIN THE COUNTRY Oman's initiatives within circular economies highlights the added value as a combination of several factors: Employment Opportunities: More than 2,300 jobs in recycling, sorting, composting, and logistics have been created by be'ah. Other sectors benefiting include Transport, Repair, Technology, and Facility Management due to the multiplied effect. Empowerment of Small to Medium Enterprises: Oman's Local Content Policy allows contracts below RO 25,000 to be awarded to local SMEs, thus stimulating waste management businesses including collection, composting, plastics processing, and electronics refurbishment. Reduction of Foreign Imports: The locally produced recycled PET, crumb rubber, and steel sourced from e-waste contributes to lowering foreign sourced materials. Compost cuts down on the use of chemical fertilizers. Technology and Innovation: Oman is incorporating innovation into its circular economy through AI-driven recycling facilities and advanced water reuse technologies. Green startups are being supported at centers like Innovation Park Muscat and Sultan Qaboos University. Environmental Gains: Healthcare benefits alongside reduced emissions from water reuse and landfill diversion are significant. Through treated wastewater reuse, 291,000 tons of CO₂ emissions were mitigated in 2023, showing impressive progress. Economic Resilience: Oman's self-reliant and economically secure structure is strengthened by local sourcing as it buffers the economy from international supply chain disruptions. CONCLUSION & RECOMMENDATIONS There are clearly defined environmental rationales, but also strategic economic drivers behind Oman's transition towards a circular economy. With the right policies and innovative ideas coupled with strong institutional frameworks and local entrepreneurship focused on infrastructure, Oman can convert waste into a strategic resource for building a sustainable and resilient economy. The key recommendations are outlined below 1. Establish overarching EPR policy framework with defined recycling quotas. 2. Stimulate public sector demand for recycled materials as expressed through public procurement mandates. 3. Enhance allocation and support to green SMEs and innovation centers. 4. Enhance waste segregation and participation at the community level. 5. Consider circular economy frameworks in national infrastructure projects. Oman is transitioning towards circularity based on Vision 2040 which targets the Sultanate's position as a regional leader in sustainable development and value creation. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (

Sohar International partners with 'Oman Balloons' to elevate the Sultanate's Tourism Landscape and drive In-Country Value
Sohar International partners with 'Oman Balloons' to elevate the Sultanate's Tourism Landscape and drive In-Country Value

Zawya

time11 hours ago

  • Zawya

Sohar International partners with 'Oman Balloons' to elevate the Sultanate's Tourism Landscape and drive In-Country Value

Muscat: Reinforcing its strategic commitment to national development and sustainable tourism, Sohar International has signed a Memorandum of Understanding (MoU) with 'Oman Balloons,' becoming the exclusive banking sponsor of the Sultanate's first national hot air balloon initiative. This partnership underscores the bank's unwavering focus on going beyond banking—supporting innovative ventures that align with Oman Vision 2040 and contribute to in-country value creation. The signing ceremony was held at Sohar International's headquarter in AL Khuwair, with the MoU signed by Mr. Khalil Salim Al Hedaifi, Chief Government & Private Banking Officer at Sohar International, and Mr. Salim Sultan Al Abri, Chief Executive Officer of Oman Balloons. The project is set to launch in October from Bidiyah in the Al Sharqiyah North Governorate, offering a pioneering aerial tourism experience that showcases Oman's natural beauty and cultural richness. Commenting on the partnership, Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, stated: 'At Sohar International, we are proud to be the exclusive financial partner of the 'Oman Balloons' project—an initiative that not only positions Oman as a regional leader in aerial tourism but also reflects our broader vision of enabling innovative and high-impact national projects. This partnership is a testament to our commitment to supporting economic diversification, empowering Omani talent, and fostering public-private collaboration, all in alignment with the aspirations of Oman Vision 2040.' Commenting on the partnership, Mr. Salim Sultan Al Abri, Chief Executive Officer of Oman Balloons, stated: 'We are proud to partner with Sohar International—one of the first institutions to believe in the vision of 'Oman Balloons' and support it from the outset. This exclusive sponsorship marks a key milestone in the project, providing not only financial support but also strategic value that will accelerate our progress.' The experience will feature a dedicated reception and briefing lounge, a cultural exhibition of traditional Omani handicrafts and souvenirs, and a ceremonial end-of-tour certificate and photo opportunity for participants. This national initiative is developed in collaboration with 'Basha Balloon,' Europe's second-largest balloon operator and a trusted name in aerial safety In a first-of-its-kind milestone, Sohar International will operate its own dedicated hot air balloon—branded with the bank's identity—making it the first commercial brand to fly across the Sultanate's skies. The initiative is also aligned with the bank's social responsibility agenda, creating new employment opportunities, empowering local SMEs, and channeling a share of the operational revenue toward environmental preservation. This positions Sohar International as a strong advocate of ESG practices within the tourism sector. This partnership represents a model for how the private sector can play an active role in enhancing Oman's global appeal, stimulating tourism, and driving inclusive, sustainable development. Through initiatives like this, Sohar International continues to deliver on its strategic priorities while supporting the long-term prosperity of the nation. About Sohar International Sohar International is Oman's fastest-growing bank, guided by a clear vision to become a world-leading Omani service company that helps customers, communities, and people prosper and grow. With a purpose to help people 'win' by delivering responsive banking for their ever-changing world, the bank offers innovative solutions across Commercial and Investment Banking, Wealth Management, Islamic Banking, and more. Operating with a strong digital-first approach and an expanding regional footprint—including presence in the Kingdom of Saudi Arabia—Sohar International is committed to driving value through strategic partnerships and a dynamic customer experience.

Oman among world's top ten in IAREM ranking, signals strong investment climate
Oman among world's top ten in IAREM ranking, signals strong investment climate

Zawya

time5 days ago

  • Zawya

Oman among world's top ten in IAREM ranking, signals strong investment climate

MUSCAT: Oman has once again secured a position among the world's best-performing economies, according to the latest Independent Australia Ranking on Economic Management (IAREM), reinforcing its reputation as a stable and attractive investment destination. In the 2025 edition of the IAREM index, Oman ranked 8th globally, with a score of 18.78, maintaining its position in the top ten economies worldwide. The Sultanate of Oman had previously ranked 6th in the 2024 edition with a score of 18.12, reflecting consistent improvement across key macroeconomic indicators. The IAREM rating evaluates countries based on eight critical metrics: income per person, GDP growth, median wealth, employment levels, inflation, tax burden, budget balance, and public debt. Oman's ranking reflects its strong fiscal governance, robust employment environment, and prudent macroeconomic management, attributes that continue to bolster investor confidence. Oman's sustained high ranking is underpinned by strategic reforms aimed at economic diversification, efficient public spending, and investment in infrastructure, logistics, and technology. The government's commitment to Oman Vision 2040 has catalysed significant progress in reducing reliance on oil revenues and enhancing the role of the private sector. Further reinforcing investor confidence is Oman's investment-grade credit rating of BBB– with a stable outlook, as affirmed by Standard & Poor's. The rating reflects improvements in fiscal sustainability, debt reduction, and greater transparency in public financial management. International observers have taken note of Oman's trajectory. According to IAREM's analysis, Oman has outperformed several larger economies in overall economic management, positioning it ahead of countries like France, Italy, and the United Kingdom. This achievement is particularly significant in a global landscape marked by rising debt levels, inflationary pressures, and sluggish growth in many regions. In 2024, Oman achieved an impressive 6th place globally in the Independent Australia Ranking on Economic Management (IAREM), earning a score of 18.12. This marked a significant leap from previous years and placed the Sultanate ahead of major economies such as Australia, South Korea, and Singapore. The ranking reflects Oman's strong performance across key indicators including income per capita, employment, inflation control, budget balance, and sustainable public debt. Analysts attributed this success to Oman's fiscal discipline, economic diversification efforts under Oman Vision 2040, and stable macroeconomic environment, factors that continue to enhance its appeal as a competitive and secure destination for global investment. Oman's top-tier ranking not only enhances its global economic standing but also signals a welcoming climate for foreign direct investment (FDI). With economic zones such as Duqm, Salalah, and Suhar offering competitive incentives, Oman is increasingly viewed as a strategic hub linking Asia, Africa, and the Middle East. As the global economy continues to navigate uncertainty, Oman's fiscal discipline, policy reforms, and strong economic governance are proving to be key differentiators. The IAREM ranking confirms that Oman is not only on the right path but is also steadily emerging as one of the most capable and well-managed economies in the region and beyond. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store