Oman
Local Content Forum Reviews Initiatives, Support for National Products

Muscat,
23 Sep 2026 (ONA) — The 7th Oman Local Content Forum reviewed today local
content initiatives, support for national products, and national efforts to
drive economic growth.

The
event is themed “Beyond Impact: Local Content Driving Growth and
Empowering Future Competencies,” with the participation of a number of
officials, decision-makers, experts, and specialists.

The
opening of the forum was held under the auspices of Sayyid Namir bin Salim Al
Said.

Hatim
Hamad Al Taiee, Secretary General and Chairman of the Main Committee of the
Forum, explained in his speech that the seventh edition of Oman Local Content
Forum discussed local content ideas and initiatives and support for national
products within the framework of relentless efforts to support economic growth.

He
added that local content represents an essential part of efforts to enhance
economic diversification aimed at reducing dependence on oil as a primary
source of general state revenues, through supporting the growth of non-oil
sectors, led by manufacturing, logistics, and fisheries.

He
pointed out that economic diversification targets deepening the economy and
raising productivity, noting that discussing local content aims to develop an
integrated economic ecosystem and maximize the value generated from spending
within the national economy.

He
emphasized that enhancing local content is a shared responsibility among the
government, the private sector, and the consumer: the government sets policies
and incentives, the private sector develops products and services, and the
consumer gives the local product the opportunity to grow. He stressed the
necessity of uniting sincere efforts to stimulate and support the Omani product
and increase local content across various sectors.

For
his part, Al Moatasim Said Al Sariri, Director General of Local Content at Oman
Investment Authority (OIA), explained that the Oman Local Content Forum in its
7th edition for 2026 is being held at an important stage in the economic
development journey of the Sultanate of Oman, amidst continuous national
efforts to achieve the targets of “Oman Vision 2040”, support
economic diversification, and maximize the impact achieved from national
investments.

He
stated that Oman Investment Authority is heading toward a new phase focusing on
several main pillars, consisting of enhancing digital readiness for the local
content ecosystem, maximizing the utilization of data in decision-making,
enhancing the innovation environment and empowering startups, localizing
industries, digital readiness, and maximizing data utilization.

He
pointed out that up to September 2026, as many as 2,295 future tenders were
floated through the “Foras” platform, with a total value of
approximately RO 2.55 billion, reflecting the scale of opportunities that the
private sector and small and medium enterprises (SMEs) can prepare to benefit
from.

He
mentioned that Oman Investment Authority and its subsidiaries possess a growing
ecosystem to support innovation and entrepreneurship, comprising a number of
accelerators, incubators, and specialized programs in diverse economic sectors,
where the number of accelerators and incubators reached more than 6 in
specialized, active fields that periodically receive a group of entrepreneurs
and startups entering work in the targeted sectors.

Regarding
the empowerment of small and medium enterprises, he mentioned that the volume
of spending on them rose from RO 187 million in 2022—equivalent to 10.9 percent
of total spending on supply chains—to RO 279 million in 2025, increasing their
share to about 19.9 percent.

He
said that since the implementation of the guiding manual began, the Omanisation
rate rose within 6 months to 56 percent at the beginning of 2026, and 1,768
jobs were created, including 1,408 jobs for Omanis.

The
forum included two sessions: the first titled “Sustainability of Impact:
Through Integration and Strategic Partnerships Between Public and Private
Sectors,” and the second titled “Beyond Impact: Future of Local
Content and Empowering Future Competencies.”

—Ends/AG