Oman Is Set To Allocate An Investment Of RO2.5 Billion In The Field Of Logistics
Category: Oman
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The Ministry of Transport, Communications, and Information Technology (MTCIT) has announced plans to invest approximately RO2.5 billion in the transport and logistics sector over a five-year period from 2021 to 2025.

This substantial development was disclosed following the conclusion of the second series of workshops dedicated to attracting investments in the sector. The workshops, conducted collaboratively by MTCIT and the Civil Aviation Authority (CAA), with support from the National Programme for Investment and Export Development (Nazdaher), spanned two weeks and produced 27 investment opportunities and six initiatives to enhance the logistics sector.

These workshops provided a platform for investors and private companies to discuss challenges, refine proposals, and explore investment possibilities in partnership with Nazdaher. Eng Khamis Mohammed al Shammakhi, Undersecretary for Transport at MTCIT, emphasized the ministry's strategic plan to invest around RO2.5 billion in the sector. The current valuation of proposed projects stands at RO1.4 billion, covering both announced and potential investment opportunities.

The goals include boosting government revenue growth from the sector, achieving RO18 million in returns from land transport by 2025, and increasing employment opportunities in related sectors from 19% in 2023 to 21% in 2025.

Participation in the workshops involved about 250 employees representing 56 government and private entities, along with 15 investors from Oman and abroad. The sessions covered various topics aimed at increasing investment in the sector, enhancing its appeal to Omani professionals, and improving Oman's standing in the Logistics Performance Index.

Additionally, the workshops were designed to address ongoing project challenges, attract new investments, and provide overall support for the sector. This initiative by MTCIT marks a significant stride in advancing Oman's transport and logistics sector, with the aim of driving economic growth and enhancing the sultanate's global logistics profile.

19 Nov, 2023 0 227
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