Oman has launched an AED 8.81 billion portfolio of manufacturing, tourism and digital economy projects under its 11th Five-Year Plan, reinforcing efforts to accelerate economic diversification and job creation. Led by the Oman Investment Authority, the initiatives are expected to generate more than 1,850 new jobs and support the objectives of Oman Vision 2040.
Key developments include an AED 6.61 billion integrated polysilicon production facility at Sohar Freezone, positioning Oman within the global solar energy supply chain, as well as new maritime, petrochemical and specialty chemicals projects designed to localise advanced industrial capabilities. Officials said the investments prioritise technology transfer, local content and supply-chain resilience, while strengthening the non-oil sector’s contribution to GDP. The programme underscores Oman’s ambition to emerge as a regional hub for advanced manufacturing, renewable energy and industrial services.
Gulf Economist Staff Writer