Tanfeedh targets RO 9 bn investments

MUSCAT: The National Programme for Enhancing Economic Diversification (Tanfeedh) has unveiled new details about the initiatives approved by the programme labs, and the most prominent projects which will be executed.

Agreements have been reached with investors for implementation of some of these projects, while other approved projects are yet to be taken up by the investors.

Lot of details are included in a recently launched book on Tanfeedh, which reviews some 74 major initiatives and projects, beside many other subprojects.

Successive publications will follow the book launch, elaborating the initiatives to enlighten the public about the latest developments regarding these initiatives.

The book revealed that the current stage of Tanfeedh programme seeks to boost the manufacturing sector’s contribution to the GDP by RO 600 million by the year 2010, and targets a minimum of RO 9 billion in foreign and domestic investments by 2020.

Other goals include increasing the number of new jobs in the manufacturing sector from 267,400 in 2016 to 280,600 by 2020.

The book includes strategic trends and approaches of the National Programme for Enhancing Economic Diversification.

The book, which will be a reference point for outputs of the programme, includes details that highlight the importance of activating the approved initiatives and programmes through intensifying the efforts of all relevant stakeholders, such as regulatory bodies, employers and investors.