Promoting Economic Diversification Strategies

The Oman Local Content Forum successfully concluded its seventh session in Muscat. Officials gathered to review vital local content initiatives. The event focused heavily on supporting national products and economic growth. His Highness Sayyid Nimir bin Salim Al Said officially sponsored the opening ceremony. The forum operated under the theme "Beyond the Impact." Key decision-makers and economic experts participated in the event. They discussed strategies to empower future Omani talents. The forum highlighted the importance of reducing reliance on oil revenues.

Maximizing Value Within The National Economy

Secretary-General Hatem bin Hamad Al-Ta'i delivered a compelling opening speech. He explained that local content drives economic diversification efforts. Developing non-oil sectors remains crucial for the country's future. The government actively supports the industrial, logistics, and fisheries sectors. Al-Ta'i emphasized that economic diversification increases national productivity. Enhancing local content requires cooperation between the government and private sector. The government provides essential policies and financial incentives. Consumers also play a vital role by purchasing Omani products.

Empowering Small And Medium Enterprises

Al-Mu'tasim bin Saeed Al-Sariri represented the Oman Investment Authority. He noted the forum aligns perfectly with Oman Vision 2040 objectives. The authority recently launched over 2,295 future tenders through the "Opportunities" platform. These tenders hold a total value of roughly 2.55 billion Omani riyals. This initiative provides massive opportunities for small and medium enterprises. Spending on SMEs increased significantly to 279 million Omani riyals in 2025. This support directly creates new jobs for Omani citizens. The Omanization rate recently reached 56 percent in key sectors.