Category: Progress Oman

Progress Oman
SME: According high priority 

SME development is a major focus area for the government and various initiatives and regulations have been implemented in this direction Taking a cue from developed economies, few years ago, Oman has undertaken a series of major initiatives to strengthen the SME sector. Several policy measures, including additional funding and training programmes, to incentivise small […]

Progress Oman
Telecom: In expansion mode

The entry of new operators is expected to enhance competition in Oman’s mobile telecommunications market  Oman is going to end the duopoly enjoyed by two major mobile service providers – the majority state-owned Oman Telecommunications Company (Omantel) and Omani Qatari Telecommunications Company, which is popularly known as Ooredoo Oman. The country’s telecom regulator – Telecom Regulatory […]

Progress Oman
Oman Air 787 Artwork (Source: ONA)
Aviation: spreading wings

With heavy investments in both Oman Air fleet and airport infrastructure and the launch of new budget airlines, Oman is looking to attract a large number of transit passengers from across the world The Sultanate is witnessing a plethora of activities in the aviation sector, with the country’s first budget carrier spreading its wings and […]

Progress Oman
APL Logistics
Ports & shipping: Changing the landscape

Redevelopment and expansion programmes are at different stages of planning and implementation in the Sultanate’s four major ports – Muscat, Duqm, Sohar and Salalah Development of port infrastructure, fishing harbours and shipping services is part of a large scheme to encourage transshipment and strengthen non-oil revenues. Redevelopment and expansion programmes are at different stages of […]

Progress Oman
Infrastructure: Partnering development

The government’s privatisation programme envisages expanding the role of the private sector in acquiring, financing and managing projects of national significance The private sector in Oman is expected to play an important role in infrastructure development in the coming years, in an apparent move to solve funding challenges in the wake of plunging oil revenues. […]

Progress Oman
Manufacturing: Wooing investment

A buoyant industrial sector is leading the way for Oman’s economic diversification Oman’s efforts to attract foreign investment for developing its manufacturing base have received a shot in the arm, if the investment commitment from a host of Chinese firms is any indication. The Sultanate’s government has succeeded in marketing Duqm as an attractive investment […]

Progress Oman
Capital market: In consolidation mode

Five to six companies are planning to enter the market with share offers The primary market in Oman will witness a hectic time with five to six companies, including fivenational insurance firms, planning to enter the market with share offers. As there was no public issue in the last one year or so, the new […]

Progress Oman
Insurance: Spurring growth

New regulations will mark a new chapter in Oman’s insurance sector, as local companies will be able to withstand competition by strengthening their financial, technical and human resources   Insurance companies need a solid capital base to achieve sustainable growth and for retaining a major portion of the business within the country. With this aim, […]

Progress Oman
Banking: On a sound footing

The financial sector has stood its ground despite strong headwinds emanating from the macro economic environment The ongoing economic slowdown did not have much of an impact on the financial sector as Omani banks are expected to achieve a modest growth in both credit and net earnings this year. Of course, a gradual increase in […]

Progress Oman
Oil & Gas: Cautious optimism

Oman’s oil& gas industry is negotiating the global decline in fuel prices, by reducing reliance on government funding, staying the course on major strategic initiatives and adjusting to the need to lower output  About 110 million barrels have been added to the Sultanate’s oil and condensates reserves in 2016, raising the Sultanate’s total oil and […]