Oman looks to build mining sector to kick-start economy

Oman looks to build mining sector to kick-start economy

The Mining and minerals industry in Oman offers great potential, which can be utilized effectively. Recently, the Oman’s mining industry appears to be on a steady growth with production of minerals growing by nearly 20 per cent in the last year.The Oman is set to declare new mining regulations, which is drafted by the Public Authority for Mining (PAM), in this year.The country’s mining industry will be made more attractive for the investors and will be developed to export more metals and extracted minerals.The director general of Research and Geological Surveys, Ali Al Rajahi said, “We are expecting to have the law passed by mid of this year. The law will focus on several areas, which include developing the local community and environment of mining. A very important factor is changing the people’s mentality towards mining sector. We will work to help local communities develop through mining activities….”Oman’s mining sector foresees remarkable growth in the next few years, which will significantly kick start mining activities and attract investment to the Sultanate.The aim of the new mining regulation is to facilitate opportunities for local as well as foreign investors utilizing the country’s mineral resources, tap new sources of income and secure employment for as many Omani citizens as possible in the mining industry.

Due to the impetuous development of mining industries in Oman, demand of mining spare parts of industries is highly increased.SCION INDUSTRIAL ENGINEERING PRIVATE LIMITED, supplying company is committed to providing spare parts service, dedicated to maximizing equipment availability and optimizing operational performance in the growth of mining opportunities in Oman.SCION INDUSTRIAL ENGINEERING PRIVATE LIMITED has always strived to create a leading brand and the most valuable brand of global mining machines with strong production capacity as development foundation, perfect research power as quality guarantee and excellent service systems as brand extension.The mining industry contributes to GDP, it also acts as the catalyst for the growth for other core industries like power, steel, cement, etc. for the overall development of the economy.

Oman’s manufacturing industry set for continued growth

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Oman creates products build up the strong reputation in World economic growth, the upcoming manufacturing and distribution sector is stimulating the economic development, creating employment, and improving living standards in the Sultanate. The Oman government introduced the plans to grow manufacturing and distribution to comprise up to 15% of the nation’s GDP by 2020, the industry sector has been conducting at full throttle. The initiative is part of Oman’s development Plan (2016-2020), and concentrated on manufacturing and distribution industry, tourism, transport and logistics, mining, and fisheries, agriculture, material industry, earth-moving industry. The manufacturing and distribution industry already appeared as a leading contributor to national GDP at USD6 billion in 2015, with the predictions by suggesting that the industry will cultivate  to a value of approximately USD9 billion by 2020. Oman be the most significant industry  excluding the production of oil, gas are the production of cement, production manufacturing materials, etc. through  the plants operate and function by the private companies . Oman has set up a number of special economic zones and industrial estates in Duqm, Sohar, AlMazunah and Salalah to encourage new manufacturing and suppliers industries and start-ups. The Free Trade Zones Authority, Oman declared that it would invest USD 450m in extending and developing the zones, which will involve expanding land plots and constructing warehouses, roads and staff accommodation. Ensuring that the success not only continues but also cultivate and exhibit exponentially are keys international partners and distinct government and private industry support.

Due to the growth and development of manufacturing industries in Oman, demand of spare parts are highly increased the company SCION INDUSTRIAL ENGINEERING PRIVATE LIMITED supplies the spare parts in the favorable price to the demanding industries.

The Ministry of Industry and Commerce, Oman as one of the prime sponsors for better infrastructure, in manufacturing sector, both smaller and larger players are set to see immense growth in coming years. In an interview with TBY, NaushadAkhter Ansari, CEO of Jindal Shadeed Iron & Steel, said, “Support from the ministry is one of the big advantages in Oman. Sweets of Oman head Balakrishna declares, “Manufacturing has been growing in Oman, even though as a percentage it is not large because of the dominance of oil and gas. Manufacturing will continue to grow.”

The economic development of Yemen

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Among widespread poverty, high levels of unemployment,corruption and a major deterioration in services such as water, electricity and security, Yemen and international development partners are increasingly realizing the need to focus on economic development in Yemen. Yemen’s last two years of transition were characterized by intense scrutiny of the political process which overshadowed a focus on economic development in the country.

However, the economy doesn’t just need shallow attention. If Yemen’s tremendous economic prospects are to be changed that attention needs to operate within a very specialized framework.

Yemen reforms the champions and the international development partners can no longer afford to develop their agendas and programs based purely on technical assessments without fully understanding the patronage networks and accounting for different interests and incentives.

New approaches to addressing Yemen’s development challenges, combined with widespread change and renewed commitments within the government, are all vital to move the country forward.

Another tool to address these two questions is to insist on conditions and stipulations that build scrutiny around the budget process. A portion of aid money—and more importantly the donors’ influence—should focus on building local accountability and ensuring budget transparency.

“Being able to fulfill the demand for spare parts at the time they are needed is a key element of customer satisfaction and retention,” explains David Barboro, general manager, service network solutions, for Click Commerce.

More than ever, manufacturers these days are seeking ways to increase the economic development and growth of Yemen. . However, many of them neglect one important opportunity—their own service business. With the challenges of low-cost competitors, increasing business complexity and increasing customer demands, one way manufacturers can differentiate themselves is via service excellence, especially in the area of replacement and spare-parts management.

Within few decades internationally SCION INDUSTRIAL ENGINEERING PRIVATE LIMITED has achieved its fame and height in supplying any kind of machinery spare parts and lubricants which are the elixir of all sophisticated heavy machinaries used in diferent industries like steel industry,agriculture industy,mining industry,sugerprocesing industry,pump/motors/compressor industry,paper industry,textile industry,automotive industry,crusher industry, material handling equipment/ heavy machinery/ earthmoving equipment industry.