Latest news with #MajlisAsh'shura
Observer
21 hours ago
- Business
- Observer
Shura calls for increasing Omanisation rates in manufacturing sector
MUSCAT: For the second consecutive day, the Majlis Ash'shura continued its discussion on the statement of Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion. The Council's members emphasised the need to intensify efforts and review strategies and policies to enhance the added value of the trade and industry sectors domestically, linking industries to available national resources. They also called for increasing Omanisation rates in the manufacturing sector, given its rapid growth, and stressed the importance of devising a plan to incentivise industrial companies to absorb national talent. During the session, the members of the Council highlighted the necessity of strengthening incentives and facilities to empower the industrial and commercial sectors. They also proposed establishing a national centre to support stalled industrial projects. Additionally, the members discussed the significance of foreign investment as a solution to economic and social challenges, such as job creation and industrial expansion. They urged the creation of an attractive and flexible investment environment characterised by integration among relevant entities, while addressing obstacles that may hinder foreign investment efforts. The session also touched on the growing importance of e-commerce in Oman, with a proposal to establish a unified e-commerce portal under the ministry's supervision to support local sellers and streamline licensing, payment and delivery services. These discussions took place during the Council's 14th regular session of the second annual convening (2024-2025) of its 10th term (2023-2027). The session was chaired by Khalid bin Hilal al Maawali, Chairman of Majlis Ash'shura, in the presence of its members and Shaikh Ahmed bin Mohammed al Nadabi, Secretary-General of Majlis Ash'shura. - ONA
Observer
2 days ago
- Business
- Observer
Oman receives RO 30 billion FDI
MUSCAT: Oman received nearly RO 30 billion by the end of 2024 due to simplification of procedures through the Oman Business Platform, which processed over 800,000 transactions in 2024 and added 24 digital services. Speaking during a session of the Majlis Ash'shura on Wednesday, Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, reviewed the ministry's ongoing initiatives in industrial growth, investment attraction and digital transformation. Discussions covered the contribution of public and private sectors to Oman's gross domestic product, evaluations of free trade agreements and updates on the Nazdaher programme. To combat "hidden trade" and ensure fair competition, the ministry has enforced measures including mandatory electronic payment methods for commercial activities, aligning with global trends in the digital economy. A ministerial decision was also issued to enhance corporate governance standards for closed joint-stock companies, said the minister. The minister stated that the trade sector's contribution to GDP at constant prices reached approximately 8.3 per cent in 2024, amounting to RO 3.225 billion, with a cumulative growth rate of 6.6 per cent during the Tenth Five-Year Plan. He added that the manufacturing sector recorded the highest growth rate among economic diversification activities, at 8.6 per cent, reaching RO 3.6 billion at constant prices by the end of 2024 — constituting 10 per cent of GDP. He highlighted that industrial exports reached RO 6.2 billion in 2024, reflecting the growing added value of national industries. He noted that over 260 initiatives are currently being implemented in collaboration with partners and stakeholders as part of the Industrial Strategy 2040. The minister revealed that the number of Omani standard specifications issued by the ministry by the end of 2024 totalled 7,523, with 17 technical services streamlined. Additionally, the Invest Oman platform received around 90 investment requests worth RO 5.38 billion between its launch in February 2023 and June 2025, with 43 projects worth RO 2.25 billion localised in strategic sectors such as industry, healthcare, food security and renewable energy. He further added that the ministry has bolstered community participation in the local economy through initiatives supporting consumer cooperatives, including regulatory incentives such as streamlined registration and commercial site allocation. In e-commerce, new regulations were introduced, and the Ma'roof Oman platform was launched to certify online stores, boosting consumer trust and increasing licenses by 236.4% within a year. Al Yousef pointed out that key programmes launched include the Industrial Observatory to monitor sector performance and optimise supply chains, the Automation and AI Programme to modernise factories, Tasneea to localise procurement, and Ta'meer to link major urban projects like Sultan Haitham City with local products — fostering economic integration. BOX GRAPH POINTS 1. Trade sector's contribution to GDP at constant prices reached approximately 8.3 per cent in 2024, amounting to RO 3.225 bn 2. Industrial exports reached RO 6.2 billion in 2024, reflecting the growing added value of national industries 3. 260 initiatives are currently being implemented in collaboration with partners and stakeholders as part of the Industrial Strategy 2040 4. Invest Oman platform received around 90 investment requests worth RO 5.38 billion between its launch in February 2023 and June 2025
Observer
3 days ago
- Politics
- Observer
Shura committee discusses military service for Omani youth
MUSCAT: The Youth and Human Resources Committee of the Majlis Ash'shura held its fifteenth regular meeting of the second annual session on Wednesday, chaired by Younis bin Ali al Mandhari, chairman of the committee, and attended by Tahir bin Mabkhout al Junaibi, Deputy Chairman of the Majlis Ash'shura. Members of the committee explored the practical challenges associated with implementing military service, while also emphasising its potential national benefits. These include fostering a sense of belonging, discipline and responsibility among youth, instilling national values and enhancing physical and professional skills. The committee also discussed incentives and privileges that could make national service an attractive option for young people. In addition, they examined the potential financial and logistical costs of implementing such a programme, including infrastructure requirements, training expenses, administrative and technical preparations and strategies to ensure the programme's sustainability and effectiveness. The discussions included a review of international experiences in national service. Successful models from various countries were analysed to understand the motivations behind their implementation, the societal and human development benefits achieved and the challenges encountered — providing a valuable opportunity to draw lessons from global best practices while considering the unique context of Omani society. The committee affirmed that it is in the process of preparing a comprehensive study that examines the social, economic and legislative dimensions of the proposal, with a focus on serving the interests of the nation and its citizens. This study aims to establish a well-structured legislative framework that strikes an effective balance in enhancing national competencies.
Observer
3 days ago
- Politics
- Observer
Shura Chairman receives Mauritanian delegation
MUSCAT: Khalid bin Hilal al Maawali, Chairman of Majlis Ash'shura, received a delegation from the Mauritanian government, headed by Mokhtar El Housseinou Lam, Minister in charge of the General Secretariat of the Government of the Islamic Republic of Mauritania and Supervisor of the National Documentation Authority, along with his accompanying delegation. During the meeting, both sides exchanged views on issues of mutual interest between the Sultanate of Oman and the Islamic Republic of Mauritania, particularly those related to the long-standing and close relations between the two countries and their peoples, and ways to further strengthen them in a manner that serves the interests of both nations. Al Maawali emphasised the important role that archives and documentation institutions play globally in collection, preservation and record-keeping. He also praised the significant efforts of the National Records and Archives Authority in the Sultanate of Oman. The meeting was attended by Dr Hamed bin Mohammed al Dhawyani, Chairman of the National Records and Archives Authority, along with several members of the Majlis Ash'shura. Following the meeting, the visiting delegation toured various facilities of the Council, attended part of a regular session, and visited the Oman Council Library, where they were introduced to some of the modern technologies used in the Council's operations and activities.
Observer
3 days ago
- Business
- Observer
Manufacturing sector accounts for 10% of Oman's GDP in 2024: MoCIIP
Muscat: Majlis Ash'shura held its 13th regular session of the second annual sitting of the 10th term on Wednesday, during which Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion (MoCIIP), presented his ministry's statement. The session focused on several key topics, including the contribution of the public and private sectors to the Gross Domestic Product (GDP), the assessment of free trade agreements, and progress under the "Nazdahir" programme. In his address to the council, the minister said the trade sector's contribution to the GDP at constant prices reached 8.3 per cent in 2024, amounting to RO 3.225 billion. He noted that the sector recorded a cumulative growth of 6.6 per cent during the Tenth Five-Year Plan. "The manufacturing sector registered the highest growth among economic diversification activities, achieving an 8.6 per cent increase to reach RO 3.6 billion at constant prices by the end of 2024. This represents 10 per cent of the GDP", he further added. He added that the industrial exports stood at RO 6.2 billion in 2024, he added, highlighting the growing added value of national industries and their ability to access regional and global markets.
