Sultan of Oman Emphasizes National Local Content Policy to Boost Economic Growth

Muscat, The Gulf Observer: His Majesty Sultan Haitham bin Tariq has reiterated the importance of implementing the National Local Content Policy, aimed at bolstering Omani industries and reducing the reliance on imports, while promoting local projects and supporting related productive sectors.

The Sultan emphasized that the policy’s objectives include enhancing the capacity of Omani industries, increasing export volumes, and fostering self-sufficiency in various sectors. The government is also focused on encouraging the establishment of local enterprises, which will play a key role in diversifying the economy.

In a statement, His Majesty Sultan Haitham directed the Council of Ministers to prioritize positive factors that stimulate economic growth, particularly through supporting the private sector’s participation in government-led projects and partnerships. He highlighted the need to fully leverage the opportunities for collaboration made possible through the strategic economic and commercial agreements Oman has recently concluded with various global partners.

His Majesty’s directives underscore the Sultanate’s commitment to enhancing its economic landscape and ensuring that both public and private sectors contribute effectively to the nation’s development goals.