Latest news with #Nazdahir
Zawya
26-06-2025
- Business
- Zawya
Manufacturing sector accounts for 10% of Oman's GDP in 2024
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. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
25-06-2025
- 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.
Observer
22-06-2025
- Business
- Observer
Majlis Ash'shura to host commerce minister on Wednesday
MUSCAT: Majlis Ash'shura will host Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, on Wednesday and Thursday, to deliver his ministry's statement in a public session. This was stated by Shaikh Ahmed bin Mohammed al Nadabi, Secretary-General of Majlis Ash'shura. He said: 'The council will discuss the statement of the Ministry of Commerce, Industry and Investment Promotion at its 13th and 14th regular sessions. The ministry's statement will address six main topics, the two sectors' contribution to the gross domestic product (GDP), the ministry's vision for the future of the industrial sector, the ministry's projects for the 2020-2023 period, an evaluation of free trade agreements, Nazdahir programme and the foreign direct investment (FDI) inflows.' The statement will elaborate on the efforts being made by the ministry to develop digital platforms and national initiatives such as Invest in Oman and evaluate the results of economic agreements signed with GCC countries and other countries, Al Nadabi said. Meanwhile, the Youth and Human Resources Committee of the Majlis Ash'shura on Sunday hosted Mohsin bin Hamad al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals and a number of specialists from the ministry, to discuss the ministry's efforts to empower and develop the national workforce in the energy and minerals sectors. The meeting was chaired by Younis bin Ali al Mandhari, Chairman of the Youth and Human Resources Committee. The Under-Secretary of the Ministry of Energy and Minerals provided an elaborate explanation of the Ministry's role in supporting and developing employment policies, highlighting the most prominent obstacles facing institutions and companies operating in the oil sector and the innovative solutions required for the next phase to enhance employment and Omanisation opportunities in the oil and gas sectors The Committee members were briefed, through a visual presentation by a specialist from the ministry, on the ministry's efforts to enhance Omanisation in companies operating in the oil and gas sector as well as contracting and service companies. The visual presentation also provided an overview of the Energy Sector Human Resources Forum, an important platform for exchanging ideas and experiences and enhancing national competencies.
