Oman ranked 43rd on World Bank’s 2023 Logistics Performance Index
Published: 04:04 PM,Apr 24,2023 | EDITED : 11:04 PM,Apr 24,2023
MUSCAT: The Sultanate of Oman has been ranked 43rd out of 139 economies around the globe in the World Bank’s 2023 Logistics Performance Index, signalling that the country is able to maintain its logistics infrastructure and systems.
The Logistics Performance Index (LPI) is a comprehensive measure of a country’s logistics performance that rates countries across six different dimensions: customs, infrastructure, international shipments, logistics quality and competence, tracking and tracing and timeliness.
The report shows that Oman is tied with seven other economies, including the Philippines, Croatia, Malta, Slovak Republic, Czech Republic, Slovenia and Vietnam.
Although Oman’s ranking remains at 43rd, the country’s score on 5 criteria significantly improved compared to its 2018 score. Oman is also among the top five Arab countries in logistics services.
The improvement in Oman’s logistics performance is attributed to the government’s initiatives aimed at enhancing the logistics infrastructure, regulatory environment and trade facilitation.
The government of Oman has been prioritising the improvement of the country’s logistics infrastructure, investing significantly in developing ports, airports and road networks.
As a testament, the Port of Salalah is ranked as the second most efficient container port in the Middle East and is considered one of the world’s most technologically advanced ports with state-of-the-art facilities and equipment.
The government has also developed the Duqm Special Economic Zone, which provides world-class infrastructure and logistics services to investors.
In addition to infrastructure development, the Oman government has implemented regulatory reforms aimed at simplifying trade procedures and reducing bureaucratic barriers.
Regulations have been issued specifically aimed to improve business environment and to attract foreign investors.
The government has also invested in training and development programmes aimed at enhancing the skills and developing national talents in the logistics industry.
The improvement in Oman’s logistics performance has significant implications for the country’s economy.
Logistics is a critical enabler of trade, and improved logistics performance can boost trade volumes, reduce costs and enhance competitiveness.
Oman’s ranking at 43rd in the Logistics Performance Index is expected to boost investor confidence in the country, attracting new investments and creating job opportunities.
The World Bank noted that the 2023 edition of the LPI comes after three years of unprecedented supply chain disruptions during the Covid-19 pandemic, when delivery times soared.
“Logistics are the lifeblood of international trade, and trade in turn is a powerful force for economic growth and poverty reduction.
The Logistics Performance Index helps developing countries identify where improvements can be made to boost competitiveness,” Mona Haddad, World Bank’s global director for trade, investment and competitiveness, said.
The Logistics Performance Index (LPI) is a comprehensive measure of a country’s logistics performance that rates countries across six different dimensions: customs, infrastructure, international shipments, logistics quality and competence, tracking and tracing and timeliness.
The report shows that Oman is tied with seven other economies, including the Philippines, Croatia, Malta, Slovak Republic, Czech Republic, Slovenia and Vietnam.
Although Oman’s ranking remains at 43rd, the country’s score on 5 criteria significantly improved compared to its 2018 score. Oman is also among the top five Arab countries in logistics services.
The improvement in Oman’s logistics performance is attributed to the government’s initiatives aimed at enhancing the logistics infrastructure, regulatory environment and trade facilitation.
The government of Oman has been prioritising the improvement of the country’s logistics infrastructure, investing significantly in developing ports, airports and road networks.
As a testament, the Port of Salalah is ranked as the second most efficient container port in the Middle East and is considered one of the world’s most technologically advanced ports with state-of-the-art facilities and equipment.
The government has also developed the Duqm Special Economic Zone, which provides world-class infrastructure and logistics services to investors.
In addition to infrastructure development, the Oman government has implemented regulatory reforms aimed at simplifying trade procedures and reducing bureaucratic barriers.
Regulations have been issued specifically aimed to improve business environment and to attract foreign investors.
The government has also invested in training and development programmes aimed at enhancing the skills and developing national talents in the logistics industry.
The improvement in Oman’s logistics performance has significant implications for the country’s economy.
Logistics is a critical enabler of trade, and improved logistics performance can boost trade volumes, reduce costs and enhance competitiveness.
Oman’s ranking at 43rd in the Logistics Performance Index is expected to boost investor confidence in the country, attracting new investments and creating job opportunities.
The World Bank noted that the 2023 edition of the LPI comes after three years of unprecedented supply chain disruptions during the Covid-19 pandemic, when delivery times soared.
“Logistics are the lifeblood of international trade, and trade in turn is a powerful force for economic growth and poverty reduction.
The Logistics Performance Index helps developing countries identify where improvements can be made to boost competitiveness,” Mona Haddad, World Bank’s global director for trade, investment and competitiveness, said.