Sultan Haitham bin Tariq, Sultan of Oman, has adopted the "Industrial Strategy 2040", with the aim of advancing economic diversification, improving the level of products of Omani industries, forming a modern technology-based manufacturing industry base, and launching the incentive program that includes a number of initiatives, including the transformation of limited liability companies into joint-stock companies.
Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, explained that the industrial sector is one of the main pillars in the economic diversification trends in the Sultanate of Oman, as it contributed 9 percent to the GDP at current prices by the end of 2023. He added that the Manufacturing Strategy 2040 was prepared in partnership with the United Nations Industrial Development Organization (UNIDO), to keep pace with the latest global economic developments and in line with Oman Vision 2040.
Source (Al-Khaleej Emirati Newspaper, Edited)
