Sixth Edition of Oman ICV Forum Kicks
Off

Muscat, 16 Oct (ONA) — The 6th
edition of Oman In-Country Value (ICV) Forum kicked off in Muscat today.

Organized by Al Roya Newspaper, the
forum focused on future scenarios of ICV, from compliance to impact.

The launch ceremony was held under
the auspices of HH Sayyid Mohammed bin Thuwaini Al Said, and attended by
government officials and dignitaries.Hatim Hamad Al Ta’ee, Chairman of
the Forum’s Organizing Committee, said in a speech that the concept of local
content has become a tangible reality that contributes to economic and social
growth. He noted that, since its launch six sessions ago, the forum has
contributed to supporting national programmes that had an impact on the growth
of local added value across various sectors.

For his part, Eng. Khalid Salim Al
Qasabi, Director General of Industry at the Ministry of Commerce, Industry and
Investment Promotion, said that the current edition embodies a new stage
of maturity in the ICV march. He explained that the ministry is undertaking
measures to align local content programmes with the 2040 Industrial Strategy to
maximize the developmental impact of the national economy.

Al Qasabi pointed out
that the contribution of manufacturing industries to the gross domestic product (GDP)
stood at more than RO 3.6 billion by the end of 2024, while foreign investments
in the sector accounted for RO 2.8 billion.

He observed that these
indicators reflect the attractiveness of the industrial environment in the
Sultanate of Oman, as well as investor confidence in the local industries
climate.

Non-oil exports also exceeded RO
6.2 billion, with a growth rate of more than 11 percent during 2025.

On his turn, Saud Ali Al Jabri,
Director of ICV Development at Petroleum Development Oman (PDO), said that,
since its launch in 2013, the ICV programme has become a national model for
supporting the economy and empowering national talent.

Al Jabri pointed out that PDO contributed
to the establishment of 83 local industrial facilities, directed 14 percent of
the value of its contracts to small and medium enterprises (SMEs) and raised
the percentage of spending retained locally from 18 percent in 2013 to 42
percent by the end of 2024—to the tune of $2.7 billion.

Al Jabri said that PDO’s employment
project named “Imdad” provided more than 17,500 jobs, while the
economic impact of the company’s training and development programmes exceeded
$4.3 billion.

The forum saw the signing of agreements
on supporting local added value projects and included two panel discussions
about relevant issues.

Ends/Bishara