Industrial Sector Local Content Plan Launched by Ministry of Commerce.

Muscat: The Ministry of Commerce, Industry and Investment Promotion today launched a local content plan to be applied in the industrial sector. The ceremony was held under the auspices of Dr. Said bin Mohammed Al Saqri, Minister of Economy. The plan aims to enhance reliance on local products, increase the percentage of local components in national industries, support Omani small and medium enterprises (SMEs), and raise the efficiency of local supply chains. According to Oman News Agency, the plan also seeks to boost the regional competitiveness of the Omani industrial sector and encourage investment in converting industries that generate high in-country value (ICV). This initiative contributes to the goals of Oman Vision 2040, which focuses on promoting economic diversification and reducing dependence on imports. The initiative, known as 'Tasnee' (industrialization), comprises three main programmes: enhancing the components of local content in the industrial sector, empowering industrialists and importers, and promoting Omani products and procurements in markets. Additionally, a campaign titled 'Made in Oman' was launched during the event. Furthermore, the ministry introduced a programme called 'Taamir', through which agreements were signed with major real estate developers to ensure their commitment to prioritize Omani construction materials at all stages of construction.