Oman Eyes $44b Investment Projects

Oman hopes to attract investments worth RO17 billion ($44.16 billion) in nearly 100 projects covering three key economic sectors under a new program, a senior official has said, TradeArabia reported. The projects are in the manufacturing, tourism and logistics sectors and the investment is expected in over the next four to five years, Talal al Rahbi, deputy secretary general of the Supreme Council for Planning, was quoted as saying by an Oman Daily Observer report. The initiative is spearheaded by the National Program for Enhancing Economic Diversification, or Tanfeedh, the report said. He said a blueprint offering comprehensive details of the projects and initiatives approved by Tanfeedh for immediate implementation will be published by the end of this month. The projects are expected to create 30,000 jobs for Omanis, he said. There are 31 projects in the manufacturing sector with an outlay of RO9 billion; 45 tourism projects with RO2 billion investment potential; and 15 projects in the logistics sector worth RO7 billion, the report said.