Strategies to enhance, empower national products bear fruits
Published: 05:03 PM,Mar 11,2024 | EDITED : 10:03 PM,Mar 11,2024
The Ministry of Education witnessed the signing of agreement with the Karwa Automobile Company and the Development Bank to replace 5,000 school buses with 1000 buses every year
While the Sultanate of Oman seeks to strengthen the national industry and protect it from unfair competition to ensure material gains for the national economy, Omani products are witnessing a renewed interest by consumers who are keen to support national industry.
The Ministry of Education witnessed the signing of an agreement with the Karwa Automobile Company and the Development Bank to replace 5,000 school buses with 1000 buses every year. The project will be implemented within five years, starting from 2024 until 2028 in support of local content in the manufacture of these buses.
In its first phase during the year 2024, the project targets school transportation by replacing buses with a year of manufacture from 1980 to 1997, starting with the oldest and gradually moving up.
Those targeted in the replacement project and its controls will be communicated by the school transportation departments in the educational directorates in the governorates.
The Development Bank undertakes interest-free financing, in accordance with a number of specifications, namely financing the owners of the school transportation means to be replaced at a maximum amount of RO 22,500 and that each bus owner is entitled to one contract for those who meet interest-free financing conditions with the financing period of a maximum of 8 years.
As for bus owners who do not meet the interest-free financing conditions, the bank will finance them at a rate of 3 per cent.
Majid bin Saeed al Bahri, Undersecretary of the Ministry of Education for Administrative and Financial Affairs, stated that Karwa Motors will provide the required number from the Ministry of Education annually, so that these buses are distinguished by security and safety systems, sensors and tracking devices, with high specifications and technologies.
The drivers of these buses will be trained on defensive driving courses in coordination with one of the specialised training institutes such as the traffic safety institutes of the Royal Oman Police or the Oman Energy Association (OPAL), while the Development Bank is responsible for providing financing to the owners of the targeted school transportation means.
Dr Ibrahim bin Ali al Balushi, CEO of Karwa Automotive Company, explained that the company’s signing of these two agreements, the first: a framework agreement for government purchases, and the second includes 1000 buses annually for 5 years, is an important step towards the localisation of the bus and vehicle industry in the Sultanate of Oman.
Among the campaigns to strengthen the local industry is the “Made in Oman” campaign, as it contributes to strengthening and diversifying the national economy and comes within the industrial strategy with the aim of supporting the national industry by creating the appropriate investment climate for establishing new industries as well as developing existing industries by addressing existing challenges.
It is noteworthy that Omani products have a good reputation abroad in terms of quality and efficiency, and these products are sold as exports in more than 130 countries around the world in the construction, food and other promising sectors.
The Ministry of Education witnessed the signing of an agreement with the Karwa Automobile Company and the Development Bank to replace 5,000 school buses with 1000 buses every year. The project will be implemented within five years, starting from 2024 until 2028 in support of local content in the manufacture of these buses.
In its first phase during the year 2024, the project targets school transportation by replacing buses with a year of manufacture from 1980 to 1997, starting with the oldest and gradually moving up.
Those targeted in the replacement project and its controls will be communicated by the school transportation departments in the educational directorates in the governorates.
The Development Bank undertakes interest-free financing, in accordance with a number of specifications, namely financing the owners of the school transportation means to be replaced at a maximum amount of RO 22,500 and that each bus owner is entitled to one contract for those who meet interest-free financing conditions with the financing period of a maximum of 8 years.
As for bus owners who do not meet the interest-free financing conditions, the bank will finance them at a rate of 3 per cent.
Majid bin Saeed al Bahri, Undersecretary of the Ministry of Education for Administrative and Financial Affairs, stated that Karwa Motors will provide the required number from the Ministry of Education annually, so that these buses are distinguished by security and safety systems, sensors and tracking devices, with high specifications and technologies.
The drivers of these buses will be trained on defensive driving courses in coordination with one of the specialised training institutes such as the traffic safety institutes of the Royal Oman Police or the Oman Energy Association (OPAL), while the Development Bank is responsible for providing financing to the owners of the targeted school transportation means.
Dr Ibrahim bin Ali al Balushi, CEO of Karwa Automotive Company, explained that the company’s signing of these two agreements, the first: a framework agreement for government purchases, and the second includes 1000 buses annually for 5 years, is an important step towards the localisation of the bus and vehicle industry in the Sultanate of Oman.
Among the campaigns to strengthen the local industry is the “Made in Oman” campaign, as it contributes to strengthening and diversifying the national economy and comes within the industrial strategy with the aim of supporting the national industry by creating the appropriate investment climate for establishing new industries as well as developing existing industries by addressing existing challenges.
It is noteworthy that Omani products have a good reputation abroad in terms of quality and efficiency, and these products are sold as exports in more than 130 countries around the world in the construction, food and other promising sectors.