The Ministry of Commerce, Industry and Investment Promotion (MCIIP) signed a Memorandum of Cooperation (MoC) with Petroleum Development Oman (PDO), as part of the ministry’s endeavour to enhance cooperation between the public and private sectors in the sultanate.
The MoC was signed at the ministry’s headquarters by the undersecratary of the ministry of commerce, industry and investment promotion for commerce and industry, Dr Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, and PDO external affairs and value creation director, Abdul-Amir bin Hussein al-Ajmi.
The MoC aims to strengthen the partnership between the public and private sectors in order to support the industrial sector in the sultanate by supporting the current industrial establishments and identifying future industrial investment opportunities to increase the competitiveness of the industrial sector and generate in-country-value (ICV) for the local economy, Oman News Agency reported.
The MoC also aims at supporting exports, creating job opportunities and enhancing integration between all sectors to support small and medium enterprises (SMEs) and augment service trade.
The memorandum covered four industrial areas; the first area supports the industrial strategy 2040; the second area supports studying the sectors targeted in the ICV project including health, services, mining, transportation, logistics, technology, communications, tourism and waste management, which are in line with the investment initiatives, in addition to the oil, gas and technology sectors; and the fourth area targets developing an analytical industrial information platform to keep pace with the 4th Industrial Revolution (4IR) and technological developments.