The Ministry of Transport, Communications, and Information Technology in Oman has unveiled a robust investment strategy, with plans to channel 2.5 billion rials (approximately $6.5 billion) into the country’s transport and logistics sector by 2025. The announcement emerged during a series of workshops organized by the ministry, aimed at identifying new investment opportunities and enhancing the overall efficiency of the logistics industry.
Khamis Mohammed Al Shammakhi, the Undersecretary of the Ministry of Transport, Communications, and Information Technology, provided insights into the allocation of this substantial investment. Out of the total, 1.4 billion rials are earmarked for specific projects, while the remaining portion is designated for future investment prospects, as reported by the Oman News Agency.
The outlined projects are poised to play a pivotal role in advancing Oman’s transport and logistics capabilities. The overarching objective is not only to foster economic growth but also to enhance the nation’s standing in the global logistics arena.
Al Shammakhi detailed specific targets within this ambitious plan. The goal is to generate a revenue of OMR 18 million from land transport by 2025, signifying a strategic push towards increasing the sector’s contribution to the government’s coffers. Additionally, the plan aims to elevate employment opportunities within related sectors, with an envisioned increase from 19% in 2023 to 21% within the next two years.
This significant investment aligns with Oman’s broader economic vision, emphasizing the importance of a robust and modernized transport and logistics infrastructure. As Oman seeks to position itself as a key player in regional and global trade, this substantial injection of capital is anticipated to catalyze advancements in various facets of the transport sector, fostering economic development and creating new avenues for employment.
