Sixth Edition of Oman ICV Forum Kicks Off
Muscat, 16 Oct (ONA) --- The 6th edition of Oman In-Country Value (ICV) Forum kicked off in Muscat today.
Organized by Al Roya Newspaper, the forum focused on future scenarios of ICV, from compliance to impact.
The launch ceremony was held under the auspices of HH Sayyid Mohammed bin Thuwaini Al Said, and attended by government officials and dignitaries.
Hatim Hamad Al Ta’ee, Chairman of the Forum's Organizing Committee, said in a speech that the concept of local content has become a tangible reality that contributes to economic and social growth. He noted that, since its launch six sessions ago, the forum has contributed to supporting national programmes that had an impact on the growth of local added value across various sectors.
For his part, Eng. Khalid Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, said that the current edition embodies a new stage of maturity in the ICV march. He explained that the ministry is undertaking measures to align local content programmes with the 2040 Industrial Strategy to maximize the developmental impact of the national economy.
Al Qasabi pointed out that the contribution of converting industries to the gross domestic product (GDP) stood at more than RO 3.6 billion by the end of 2024, while foreign investments in the sector accounted for RO 2.8 billion.
He observed that these indicators reflect the attractiveness of the industrial environment in the Sultanate of Oman, as well as investor confidence in the local industries climate.
Non-oil exports also exceeded RO 6.2 billion, with a growth rate of more than 11 percent during 2025.
On his turn, Saud Ali Al Jabri, Director of ICV Development at Petroleum Development Oman (PDO), said that, since its launch in 2013, the ICV programme has become a national model for supporting the economy and empowering national talent.
Al Jabri pointed out that PDO contributed to the establishment of 83 local industrial facilities, directed 14 percent of the value of its contracts to small and medium enterprises (SMEs) and raised the percentage of spending retained locally from 18 percent in 2013 to 42 percent by the end of 2024—to the tune of $2.7 billion.
Al Jabri said that PDO’s employment project named "Imdad" provided more than 17,500 jobs, while the economic impact of the company's training and development programmes exceeded $4.3 billion.
The forum saw the signing of agreements on supporting local added value projects and included two panel discussions about relevant issues.
Ends/Bishara
