More than $20bn expected to be invested into Omani transport sector
RELATED ARTICLES: SEZAD to offer 100% foreign ownership | Five conglomerates chasing Oman Rail PMC | OAB supports symposium on railway project Oman is expected to receive increased investments from public and private sectors, the undersecretary at the Ministry of Industry & Commerce of Oman has said. Speaking at the ongoing Oman Projects Forum 2013 in Muscat, Ahmed bin Hassan Al Dheeb said that these investments will create opportunities “within the country, rather than letting the outcome of such projects merely turn into foreign exchange outflows, and the creation of jobs and economic activity abroad.” Almost $20bn is estimated to be invested into transportation infrastructure, including the Oman National Railway Project; an estimated $17bn will be spent on the oil & gas sector and another $13bn worth of projects launched in the manufacturing and industrial sector. “Oman has the right ingredients to become a logistics hub, with its good transportation infrastructure, labour and geographical location,” said Abraham Akkawi, partner and head of infrastructure and PPP services, MENA of Ernst & Young in his presentation at the conference. “But this can only become a reality if both the government and private sector work together,” he added. Al Dheeb added he expects billions to be further invested in the country’s tourism, logistics and power and water sectors.