24 Hrs
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الاقتصادية
Oman industry targets 10.7 billion riyals by 2040
Industries in the Sultanate of Oman are heading towards rapid growth, as the 2040 Industrial Strategy aims to increase the contribution of manufacturing industries to the gross domestic product from around 3.7 billion Omani Rials by the end of 2025 to 10.7 billion Rials by 2040. The value of manufacturing industries in the first quarter of 2026 reached approximately 869 million Rials, with non-oil exports increasing by 1.5% to 2.74 billion Rials, and re-exports rising by 64.4%. The Sultanate is working to strengthen a more integrated industrial sector, localize priority industries, increase domestic content, and support small and medium enterprises, all with the goal of creating more job opportunities and developing national skills. The focus is also on transitioning towards smart factories, automation technologies, and artificial intelligence to improve efficiency and reduce costs.
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