GATEWAY TO PROGRESS

Sohar, Duqm and Salalah ports are an integral part of Oman’s economy. All the ports have attracted global attention and are witnessing remarkable growth in the number of shipping lines.

During 2017, it handled about 4.8 million containers, an increase of 21 per cent compared to 2016. The volume of handling of general cargo in the Omani ports during the year 2017 rose to 18 million tons of cargo, an increase of 25 per cent over the year 2016. All these ports are designed to be full-fledged economic zones complemented by free zones, industrial estates, airports, road connectivity and a link to the GCC railway network in the future. With rapid developments taking place, coupled with the optimal location of the ports, and the Sultanate’s reputation as a reliable and stable business environment, ports of Oman have bright days ahead, not only as a beacon of growth and prosperity for the region but as a key player in achieving the economic diversification goals of the Government.

Similarly, the logistics sector is being positioned as a big contributor to the Gross Domestic Product (GDP) after hydrocarbons. There has been renewed focus on diversifying the economy, and logistics is a sector that Oman will be banking on to achieve this goal. The logistics sector’s GDP contribution is targeted at RO 3 billion in 2020, up from RO 1.1 billion presently. Further, it is projected to rise to RO 14 billion by 2040. Oman’s strategic geographical location makes it unique to become one of the top 10 global logistics destinations by the year 2040. The logistics sector already employs 80,000 workers-a goal set for achievement in 2020. By 2040, this is set to increase to 300,000, along with a position for Oman among the World Bank’s Top 10 Logistics Index.