Five new economic clusters planned
Published: 03:10 PM,Oct 29,2024 | EDITED : 07:10 PM,Oct 29,2024
Integrated Economic Clusters are planned at Shaleem, Al Dakhiliyah, Duqm, Najd and Suhar.
MUSCAT, OCT 29
The Omani government is rolling out a new category of industrial and investment zones as part of an accelerated drive to advance the country’s economic diversification programme. Dubbed ‘Integrated Economic Clusters’, they will complement existing investment vehicles, such as Special Economic Zones, Free Zones, and Industrial Cities, that are currently at the heart of Oman’s expanding non-oil economy.
At least five such Integrated Economic Clusters are planned for implementation at key locations across Oman, aimed at harnessing synergies linked to their advantageous geographical position, local natural resources, proximity to overseas export markets, and access to transport and logistics infrastructure.
According to the latest report of the Oman 2040 Vision Implementation Follow-up Unit, these new hubs are planned at Shaleem and Najd (Dhofar Governorate), Al Dakhiliyah, Duqm, and Suhar.
“Integrated economic clusters represent a strategic approach adopted globally to accelerate growth and diversify economies. These clusters comprise interconnected industries and sectors within a specific geographic area, sharing value chains, services, and products. They provide a structured framework that optimizes resource allocation, fostering collaboration and competitiveness among various entities,” the Implementation Follow-up Unit stated in its report.
At minerals-rich Shaleem in the south of the country, a new Integrated Economic Cluster is envisioned as part of the ambitious Shaleem Industrial Minerals Block development, an initiative backed by subsidiaries of Oman Investment Authority (OIA) in collaboration with the Public Establishment for Industrial Estates (Madayn).
Endowed with abundant deposits of gypsum, limestone and dolomite, among other minerals, the new cluster aims to not only attract investments in downstream value-add industries, but also leverage its proximity to the Arabian Sea to develop opportunities for fisheries, tourism and logistics.
A similar Integrated Economic Cluster planned in Al Dakhiliyah Governorate will centre on the development of four key sectors – agriculture, tourism, industry and logistics. One of the outcomes of the National Programme for Economic Diversification (Tanweea), this new hub will serve as a benchmark model for stimulating cross-sectoral growth in other governorates of Oman as well.
At Duqm, where one of Oman’s biggest SEZs is taking shape, a first-of-its-kind Cold Chain Economic Cluster is envisioned. “This cluster aims to develop and enhance the cold chain system within the SEZ at Duqm. The initiative focuses on improving the quality and efficiency of cold chain management, encompassing both the backstream (such as fish, agricultural products, and other food industries) and the frontstream (services related to the cold chain),” the report said.
Also in Dhofar Governorate, a new Integrated Economic Cluster is planned in the agriculture-rich Najd part of the governorate in collaboration with the Najd Development Oman. The goal is to establish and develop an integrated economic system encompassing all agricultural, industrial, and logistics facilities, forming a comprehensive and efficient economic system.
Finally, at Suhar, the report has highlighted the potential for an Integrated Economic Cluster for Aluminum Industries. “This cluster aims to achieve integration among the various aspects of the aluminum industry by linking the upstream (primary aluminum production) with the downstream (higher value-added industries),” it noted.
The Omani government is rolling out a new category of industrial and investment zones as part of an accelerated drive to advance the country’s economic diversification programme. Dubbed ‘Integrated Economic Clusters’, they will complement existing investment vehicles, such as Special Economic Zones, Free Zones, and Industrial Cities, that are currently at the heart of Oman’s expanding non-oil economy.
At least five such Integrated Economic Clusters are planned for implementation at key locations across Oman, aimed at harnessing synergies linked to their advantageous geographical position, local natural resources, proximity to overseas export markets, and access to transport and logistics infrastructure.
According to the latest report of the Oman 2040 Vision Implementation Follow-up Unit, these new hubs are planned at Shaleem and Najd (Dhofar Governorate), Al Dakhiliyah, Duqm, and Suhar.
“Integrated economic clusters represent a strategic approach adopted globally to accelerate growth and diversify economies. These clusters comprise interconnected industries and sectors within a specific geographic area, sharing value chains, services, and products. They provide a structured framework that optimizes resource allocation, fostering collaboration and competitiveness among various entities,” the Implementation Follow-up Unit stated in its report.
At minerals-rich Shaleem in the south of the country, a new Integrated Economic Cluster is envisioned as part of the ambitious Shaleem Industrial Minerals Block development, an initiative backed by subsidiaries of Oman Investment Authority (OIA) in collaboration with the Public Establishment for Industrial Estates (Madayn).
Endowed with abundant deposits of gypsum, limestone and dolomite, among other minerals, the new cluster aims to not only attract investments in downstream value-add industries, but also leverage its proximity to the Arabian Sea to develop opportunities for fisheries, tourism and logistics.
A similar Integrated Economic Cluster planned in Al Dakhiliyah Governorate will centre on the development of four key sectors – agriculture, tourism, industry and logistics. One of the outcomes of the National Programme for Economic Diversification (Tanweea), this new hub will serve as a benchmark model for stimulating cross-sectoral growth in other governorates of Oman as well.
At Duqm, where one of Oman’s biggest SEZs is taking shape, a first-of-its-kind Cold Chain Economic Cluster is envisioned. “This cluster aims to develop and enhance the cold chain system within the SEZ at Duqm. The initiative focuses on improving the quality and efficiency of cold chain management, encompassing both the backstream (such as fish, agricultural products, and other food industries) and the frontstream (services related to the cold chain),” the report said.
Also in Dhofar Governorate, a new Integrated Economic Cluster is planned in the agriculture-rich Najd part of the governorate in collaboration with the Najd Development Oman. The goal is to establish and develop an integrated economic system encompassing all agricultural, industrial, and logistics facilities, forming a comprehensive and efficient economic system.
Finally, at Suhar, the report has highlighted the potential for an Integrated Economic Cluster for Aluminum Industries. “This cluster aims to achieve integration among the various aspects of the aluminum industry by linking the upstream (primary aluminum production) with the downstream (higher value-added industries),” it noted.