The National Local Content Laboratory concluded its two-week activities by studying 86 developmental opportunities aimed at enhancing the efficiency of local content across various sectors and stimulating national economic activities. The identified investment opportunities span several key sectors, including 56 opportunities in energy and minerals, construction, electricity and water services, health, and the military and security sectors. These opportunities were categorized based on different criteria, such as the economic feasibility they offer to the sectors, localization potential, and their contribution to economic growth.
At the end of the second week of the National Local Content Laboratory, participants, representing more than 43 government and private entities, concluded their discussions on investment development in Oman. The focus was on the importance of relying on local products in manufacturing and production, which would create more job opportunities, enhance the efficiency of the national workforce, foster industrial capabilities, promote localization, support innovation, and advance local companies' competitiveness.
The laboratory activities included the participation of H.E. Eng. Badr bin Salem Al-Maamari, Secretary General of the Tender Board, along with several CEOs of local companies. Discussions revolved around empowering national institutions to become integral parts of the sustainable economic development journey by implementing best practices in project and contract management, ensuring the highest standards of transparency, efficiency, and fairness.
At the conclusion of the laboratory's activities, a visual presentation was delivered by sector supervisors to review all discussed topics, including the most prominent opportunities in each sector, their feasibility, implementation mechanisms, and governance for execution and follow-up. The implementation phase will proceed as follows: identifying and analyzing opportunities, obtaining necessary approvals, holding meetings with investors, reviewing proposals, final approvals, tendering, awarding contracts, and progressing to the final steps of operation and sustainability. Execution will be achieved through coordination, integration, and alignment with all relevant entities.
A brief overview of the general framework for the National Local Content Strategy was also presented, alongside the agenda for the laboratory's closing ceremony, scheduled for February 2. The ceremony will highlight the key outcomes of the laboratory, approve several discussed opportunities, and witness the signing of agreements stemming from the laboratory's work.
The National Local Content Laboratory initiative is a strategic component of "Oman Vision 2040," which emphasizes developing the national economy through policies that promote a knowledge-based, sustainable economy and maximize local added value. It aims to achieve multiple objectives, including fostering integration between relevant sectors to ensure long-term investment in shared resources, building effective partnerships with government and private entities to strengthen local content, and encouraging collaboration among academic institutions, research centers, and industries to support innovation and development.
The laboratory also seeks to engage stakeholders in open discussions to understand their perspectives and needs, establish sustainable communication mechanisms with all relevant parties, and define impact measurement methods with periodic reviews of the action plan to ensure desired outcomes. It aims to develop a comprehensive roadmap for enhancing local content based on sectoral priorities and optimizing the utilization of shared resources to improve resource investment in Oman, whether natural, human, or economic.
This initiative contributes to supporting non-oil sectors, enhancing economic diversification, and reducing reliance on oil as the primary source of income. Additionally, the laboratory supports the development of Omani competencies and skills across various fields to ensure sustainable growth, fosters creativity and innovation in multiple sectors, and enhances competitiveness.