SALALAH: A key workshop on the economic and investment potential of Dhofar Governorate was held at the Oman Chamber of Commerce and Industry (OCCI), Dhofar Branch, on Wednesday, July 31, 2024. This pivotal event, attended by representatives from state administrative units at the chamber's Salalah branch, underscored the collaborative efforts between the chamber and Sultan Qaboos University to map out the region's economic prospects.
Key discussions were held with the Governor of Dhofar and the Chairman of Dhofar Municipality, focusing on identifying projects and addressing challenges that could yield substantial returns for both the governorate and Oman. Dr Ashraf Musharraf, Chairman of the OCCI Chair for Economic Studies at Sultan Qaboos University, emphasized the chamber’s crucial role in the governorate’s development initiatives.
The workshop outlined eight primary objectives aimed at fostering economic development in Dhofar Governorate, each contributing to a comprehensive blueprint for progress. The initial goal is to provide an in-depth overview of Dhofar, showcasing its unique attributes. These include its rich cultural heritage, breathtaking landscapes, abundant natural resources, and strategic geographic position, all of which distinguish Dhofar from other regions in Oman.
An analysis of the governorate’s current status of development encompassed present conditions, spanning human (population, education, health), economic (business activities, investments), and natural (resources, environment) dimensions. Existing development plans for Dhofar were scrutinized, assessing their effectiveness and proposing necessary adjustments to align with sustainable development goals.
A sectoral economic analysis aimed to identify key economic sectors that significantly contribute to Dhofar's economy, alongside those with high growth potential, such as tourism, industry, and agriculture.
The workshop also highlighted the importance of developing a robust strategy to manage risks associated with investment projects in Dhofar, ensuring the protection and sustainability of investments.
Crafting an effective marketing strategy to attract investors and tourists to Dhofar was also crucial, experts stressed. This involves highlighting the governorate’s unique tourism and investment advantages to a broader audience, they noted.
To attract investors to promising sectors, the workshop proposed various incentives, including tax exemptions, streamlined procedures, and the provision of industrial land. The ultimate objective is to to ensure balanced development across all wilayats of Dhofar by identifying and promoting investment opportunities in each area, fostering equitable growth.
The workshop marks a significant step towards realizing sustainable development in Dhofar Governorate through the concerted efforts of various stakeholders. By identifying and enhancing investment opportunities, this initiative aims to drive economic growth, improve the standard of living for residents, and ensure the sustainable advancement of the governorate.
Oman Observer is now on the WhatsApp channel. Click here
