Sunday, 20 Oct 2019 | 21 Safar 1441
Sultanate celebrates industry day, discusses challenges facing the sector

Sultanate celebrates business day, discusses challenges facing the sector

Dr Ali bin Masoud bin Ali al Sunaidy, Minister of Commerce and Industry, met industrialists and persons interested in the industrial sector at the Sheraton Oman Hotel. The delegates discussed the challenges facing the industrial sector and the specifications for the subsequent stage to improve the contribution of industrial sector to GDP.

Dr Sunaidy mentioned, “The meeting is an opportunity to review the most important indicators of the performance of the industrial sector and discuss the most important trends of the sector during the next stage, in addition to listening to your views and proposals to serve this vital sector.”

He added, “The industrial sector is one of the five productive sectors that this programme focuses on in the early stages of its implementation. The number of projects in the industrial sector within Tanfeedh reached 26 of which some have reached the production stage.” Implementation prices in the total projects reached 40 per cent to 90 per cent according to the nature of each and every project.

The price of what was completed in basic by the finish of 2018 for these projects reached 69 per cent. The projects of Tanfeedh which are getting implemented consist of the Industrial Research Centre in partnership with Sohar University, out of the belief of the government in the value of analysis and improvement in the industrial field.

The centre contains a number of units for the design and style and production of industrial models. The completion price in the factory reached about 50 per cent by the finish of 2018. “It is expected that the remaining parts will be completed at the end of this year and be operational at the beginning of 2020.”

He pointed out that the Fourth Industrial Revolution has currently begun and a single of its most prominent applications will be artificial intelligence, the world wide web of issues and big information, e-commerce, cloud computing, robots and renewable power.

He added that the sultanate has lately signed an agreement with the World Economic Forum to assist factories and service institutions to prepare for future jobs.

Hilal bin Hamad al Hasani, CEO of the Public Establishment for Industrial Estates (Madayn) stressed that industrial cities for the tenth year in a row have accomplished development in all indicators and enterprise final results in spite of the regional and worldwide monetary and financial crises.

He added, Madayn has not noticed any decline in current years and the most current a single, 2018, witnessed an unprecedented turnout, as it received much more than 450 new investment applications.

Information Source: Muscat Daily

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