Oman Plans RO2.5 Billion Investment in the Logistics Sector

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Muscat – The Ministry of Transport, Communications, and Information Technology (MTCIT) has unveiled ambitious plans to invest approximately RO2.5bn in the transport and logistics sector over a five-year span from 2021 to 2025.

This major announcement follows the successful conclusion of the second series of workshops focused on attracting investments in the sector. The workshops, jointly conducted by MTCIT and the Civil Aviation Authority (CAA) with support from the National Programme for Investment and Export Development (Nazdaher), spanned two intensive weeks.

The collaborative effort brought forth 27 investment opportunities and six initiatives aimed at enhancing the logistics sector. During these sessions, investors and private companies engaged in discussions to address challenges, refine proposals, and explore investment possibilities in partnership with Nazdaher.

Eng Khamis Mohammed al Shammakhi, Undersecretary for Transport at MTCIT, underscored the ministry’s strategic plan to invest around RO2.5bn in the sector. He revealed that the current valuation of proposed projects stands at RO1.4bn, covering both announced and yet-to-be-floated investment opportunities.

The overarching goals of this initiative include boosting government revenue growth from the sector, achieving RO18mn in returns from land transport by 2025, and increasing employment opportunities in related sectors from 19% in 2023 to 21% in 2025.

The workshops, attended by approximately 250 representatives from 56 government and private entities, along with 15 investors from Oman and abroad, covered various topics aimed at increasing investment in the sector, enhancing its appeal to Omani professionals, and boosting Oman’s standing in the Logistics Performance Index.

These sessions were strategically designed to address ongoing project challenges, attract new investments, and provide comprehensive support for the sector. MTCIT’s initiative represents a significant stride toward advancing Oman’s transport and logistics sector, aiming to drive economic growth and elevate the sultanate’s global logistics profile.