Muscat – The celebration of Omani Industry Day on Wednesday coincided with the starting of development of five new industrial cities in Khasab, Ibri, Thumrait, Shinas and Mudhaibi, informed Hilal bin Hamad al Hasani, CEO of Public Establishment for Industrial Estates – Madayn.

“These industrial cities will be added to the nine that are operating across the sultanate, which will play a pivotal role in enhancing comprehensive and sustainable economic and social development under the wise leadership of His Majesty Sultan Haitham bin Tarik,” Hasani said.

He added that the new industrial cities represent the result of Madayn’s policies and its 2040 Vision programmes that are in line with Oman Vision 2040. “Our goal is to reach 40 industrial cities.”

With only one industrial city in Oman back in 1991 when the Late Sultan Qaboos bin Said paid a historic visit to Al Rusayl Industrial City, the industrial sector is now thriving with an expanding network of industrial cities across the country.

“With nearly 2,300 localised projects, the total investment volume in Madayn’s industrial cities today is approaching RO7bn. The Omanisation rate in these projects exceeds 38 per cent of the total workforce in the industrial cities, which accounts for up to eight per cent of the total private sector workforce at the national level and exceeds 63 per cent of the total workforce in the industrial sector of Oman,” Hasani pointed out.

He emphasised that despite global economic fluctuations and the impact of COVID-19, Madayn received 325 investment applications in 2021, of which 193 got localised in the various industrial cities. Madayn’s total investment volume increased by 1.6 per cent, the total number of projects grew by 3.4 per cent, and the percentage of leased space increased to 2.05 per cent.

Madayn has recently launched an investment complexes project which offers opportunities to local and foreign companies to invest in the industrial and associated sectors.

Madayn also recently introduced its Industrial Innovation Academy to promote a diversified and sustainable economy based on technology, knowledge and innovation.

Additionally, Madayn has announced the establishment of new industrial cities as part of the current Five-Year Plan in Musandam, Dhahirah, North Sharqiyah, North Batinah and Dhofar governorates, which will be equipped with advanced infrastructure. Madayn has also begun looking for local and foreign investors to develop other industrial cities in partnership with the private sector.

In addition to these efforts, Madayn has opened Masar Service Centres in two industrial cities, with soft openings in four more industrial cities, to play a key role in accelerating and simplifying investment procedures for investors and achieving a safe and ideal investment and business environment. Madayn has also recently announced a package of incentives and fees exemptions to support the investment climate in its various industrial cities.