Latest news with #SalehbinSaidMasan
Observer
16-07-2025
- Business
- Observer
Construction and engineering sector workshop highlights reform priorities
MUSCAT: The Ministry of Commerce, Industry and Investment Promotion on Wednesday hosted a workshop in Muscat focusing on the regulation, governance and future development of the construction and engineering consulting sector. The session addressed major challenges faced by the industry while highlighting opportunities to drive growth. Discussions revolved around adopting a modern employment approach aligned with future aspirations, enhancing Omanisation and improving the efficiency of the national workforce. These efforts aim to strengthen the sector's competitive edge and support sustainable growth. The workshop also covered the creation of a clear employment framework for the sector and the identification of potential replacement opportunities, with special emphasis on prioritised national activities and professions. Mechanisms for calculating appropriate Omanisation rates were reviewed, alongside proposed incentives to help companies maintain stability and sustainably increase local employment. Other topics included challenges associated with direct employment and the exploration of alternatives such as 'parallel employment'. This concept involves leveraging modern technologies, including artificial intelligence, to optimise operations, reduce costs and raise workplace health and safety standards. There was also a proposal to integrate new professions into the self-employment programme, aimed at expanding job opportunities for Omanis and opening new pathways for entrepreneurship in construction and engineering services. The session featured an analytical presentation containing statistical data on employment trends in the construction and engineering consulting sector. It detailed economic activity classifications and the sector's contribution to GDP. The event was attended by Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, as well as members of the Reference Committee comprising representatives from relevant public and private entities. — ONA
Observer
03-06-2025
- Business
- Observer
Oman opens first copper waste recycling plant
Oman has inaugurated its first industrial plant dedicated to converting legacy copper mining waste into high-purity copper using renewable energy and eco-friendly technologies — a major step toward green industrialisation and sustainable resource management in line with Oman Vision 2040 goals. Located in the Wilayat of Suhar, the plant was officially opened on Monday under the auspices of Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion. The launch was attended by ministers, senior officials and business leaders from across Oman's public and private sectors. Developed by Green Tech Mining and Services, the project is the first of its kind in the country. It was made possible through a strategic partnership between Oman Mining Company and Austria-based BPG Group, with support from the Ministry of Commerce, Industry and Investment Promotion. Total investment exceeds RO 41 million. The initiative aims to turn environmental liabilities into economic value by reprocessing waste from historical copper mining operations. The first production phase is scheduled to begin in June 2025 with an output capacity of 60 tonnes of copper cathodes per year. By December 2026, capacity is expected to scale to 12,000 tonnes annually — significantly enhancing Oman's footprint in the regional green mining sector. Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, described the project as a 'qualitative leap' in Oman's industrial trajectory. 'This plant integrates environmental sustainability with economic diversification and industrial localisation. It reflects our commitment to innovation-led development and cleaner industrial practices.' The project also supports the Oman Industrial Strategy 2040 by boosting value-added production, attracting high-tech investments and localising industries that harness the country's natural resources. Copper cathodes produced at the facility will be classified as sustainably recycled metal — a key asset in global decarbonisation supply chains. Khalid bin Salim al Qasabi, Director-General of Industry at the ministry, said the plant represents a practical embodiment of the ministry's push to enable advanced industrial projects. 'We worked to ensure streamlined procedures and robust technical standards to bring this facility online. It's a model of regulatory coordination and sustainable investment.' Ernst Grissemann, CEO of BPG Group, highlighted the long-term vision behind the project, which began in 2018. 'The use of renewable energy and the plant's zero-waste approach underlines our dedication to the responsible industry. This facility positions Oman as a regional hub for green transformation in the mining sector.' As Oman seeks to elevate its industrial competitiveness, reduce environmental impact, and create new value chains from existing resources, this project offers a blueprint for scalable, environmentally responsible industrial growth — reinforcing the Sultanate's position in the global transition to sustainable development.
Observer
12-05-2025
- Business
- Observer
Oman hosts key WTO roundtable to boost Arab trade integration
MUSCAT:The Sultanate of Oman kicked off the 13th China Roundtable Meeting on WTO Accession in Muscat under the theme 'Advancing Arab Economies: From Strategic Accession to Global Trade Integration.' Held in cooperation with the World Trade Organization (WTO) and the Government of the People's Republic of China, the three-day event brings together officials from WTO member and aspiring countries to strengthen multilateral trade engagement. Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, said Oman's hosting of the event underscores its commitment to constructive dialogue and international cooperation within the multilateral trading system. He highlighted Oman's instrumental role in supporting developing nations — such as Seychelles and the Comoros — in their WTO accession by offering both technical and financial assistance. Masan noted that Oman looks forward to the roundtable promoting new avenues for trade and economic cooperation, further easing accession pathways for aspiring WTO members, and contributing to a more inclusive global trading framework. — ONA
Observer
08-05-2025
- Business
- Observer
Muscat to host 13th WTO China Roundtable
MUSCAT, MAY 8 The Sultanate of Oman will host the 13th edition of the China Roundtable on WTO Accessions from May 12 to 14, 2025, bringing together senior policymakers, diplomats, trade experts, and development partners to explore pathways for Arab countries to deepen their integration into the global trading system. Organised by the World Trade Organization (WTO) Secretariat and funded by the Government of China, the roundtable is a continuation of an initiative launched in 2012 to support acceding governments and newly joined Members in navigating the complexities of WTO accession. This year's theme, 'Advancing Arab Economies: From Strategic Accessions to Global Trade Integration,' reflects a timely focus on the Arab region, where several economies are actively pursuing WTO membership. Set to take place at the Intercity Hotel in Muscat, the event will feature a series of high-level sessions, including a commemoration of Oman's 25th anniversary as a WTO Member. The roundtable will also examine the economic visions of the Gulf Cooperation Council (GCC), lessons from past and ongoing Arab accessions, regional integration strategies, and the evolving role of the private sector in trade reform. Among the keynote speakers at the Opening Ceremony are Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion, and Shaikh Khalifa Al Harthy, Under-Secretary at the Ministry of Foreign Affairs. Officials from China's Ministry of Commerce and the WTO's senior leadership are also expected to deliver addresses virtually. With participation from current and aspiring WTO Members, including Algeria, Iraq, Sudan, and Libya, as well as institutions such as the World Bank Group, Islamic Development Bank, and UNCTAD, the Round Table aims to catalyse technical cooperation and policy dialogue to strengthen trade governance across the region. A special publication titled 'Best Practices in WTO Accessions for the Arab Region' will also be launched during the event, providing a comprehensive review of institutional lessons and strategic frameworks to support smoother accession processes for Arab economies. This marks the second time the roundtable is held in the Arab region, following the 12th edition in Abu Dhabi in 2024, and underscores Oman's growing role in championing trade facilitation, economic diversification, and regional collaboration in line with Oman Vision 2040.
Observer
17-04-2025
- Business
- Observer
MoCIIP highlights 2024 achievements at annual media briefing
Muscat: The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) held its annual media briefing on Thursday under the theme 'Partnering for Synergy', unveiling key milestones achieved in 2024 and reaffirming its commitment to fostering a robust, knowledge-based economic environment in collaboration with its partners. The event was presided over by Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, and attended by Dr. Saleh bin Said Masan, Undersecretary for Commerce and Industry, Ibtisam bint Ahmad al Farooji, Undersecretary for Investment Promotion; and Pankaj Khimji, Advisor for Foreign Trade and International Cooperation. Senior ministry officials, national media representatives, economists, and prominent social media influencers also took part in the gathering, which offered a comprehensive overview of the Ministry's performance and strategic direction. In its presentation, MoCIIP revealed that the number of registered commercial records in the Sultanate had risen to 441,773 in 2024, up from 387,666 in 2023, an increase of 13.96 per cent. The Ministry also noted a 3.6 per cent growth in the contribution of domestic trade to the Gross Domestic Product (GDP), reaching RO 19.127 billion at current prices, compared to RO 18.455 billion in the previous year. Service-related activities accounted for approximately 46.5 per cent of the GDP in 2024. Foreign Direct Investment (FDI) in Oman climbed to RO 30.042 billion by the end of 2024, reflecting an increase of RO 4.583 billion from the fourth quarter of 2023. The oil and gas sector remained the dominant recipient of FDI, accounting for 79.7 per cent of the total, followed by the manufacturing sector at 8.3 per cent, which attracted RO 2.490 billion. The financial intermediation sector accounted for 4.6 per cent, while real estate, rental, and business activities represented 3.4 per cent. MoCIIP reaffirmed its strategy to strengthen partnerships across sectors and drive economic diversification through innovation, streamlined regulations, and investor-friendly policies.
