PARTS IN THE PUZZLE
Local companies give their opinion on the changing dynamics of the Omani economy and how they are able to play an important role in developing the country and the region.
There is an increasing demand for our products in the domestic market as well as the GCC markets. Initially, our scope was to improve our service in this market. We wish to make use of the free trade agreement (FTA) between the US and Oman to enter into the US market and are looking into either establishing an office in the US or finding a distribution partner. The only drawback to this will be the competition we face from the Far Eastern and Indian products. As Oman is a petroleum driven economy, we have established ourselves as a leading supplier to all the petroleum companies with our products. The government’s plans to explore for more oil will be an added advantage to us since demand will increase for our products. More petroleum downstream industries are being formed and this too will help us as we can cater to their packaging requirement.
Oman is a primary market for our products, and we are the number one in the Oman market. Of late, competition in the local market increased due to excess capacity from global suppliers and a weak recovery in the global economy; however, these factors could not deter Oman Cables from securing a higher and more dominant market position in Oman. In regard to exports, OCI started focusing on export markets as early as 1988 with a view to broaden its horizons beyond the domestic market. The first export of coils is still fresh in my mind and was supplied to a customer in Bahrain. Today, OCI supplies its products to all the GCC markets, the Middle East, Far East Asia, Africa, and Europe. OCI expanded its customer base by supplying its products to various industry segments from traditional utility and infrastructure markets.
I find the regulatory atmosphere very challenging, but also very positive because we supply to consumers. We should respect the highest standards when it comes to quality, health and safety, and environmental considerations. We have excellent coordination with the Ministry of Commerce and Industry, the water authorities, and, also, the municipality, which monitors us in several areas. I think this is to the benefit of consumers and, at the end of the day, to our company. We already carry out some exports, particularly to African countries, but that is less than 2%–4% of our total sales. We mostly focus on the Omani market, but we also look to the neighboring countries if there are some opportunities, particularly on the juice side.
PARTS IN THE PUZZLE
TABLE OF CONTENTS
Year In Review
To Diversification & Beyond
While in the medium term Oman has been catapulted back into the extraction game by enhanced oil recovery (EOR), earlier worries that exploitable reserves were fast depleting have spurred the government to ease the Sultanate's reliance on hydrocarbons.
read articleGuest Speaker
Alistair Burt, UK Parliamentary Under-Secretary of State, Foreign and Commonwealth Affairs
Alistair Burt, UK Parliamentary Under-Secretary of State for Foreign and Commonwealth Affairs, on the long relationship between the two countries, regional stability, and business opportunities in the Sultanate.
read articleGuest Speaker
Melanie Schultz van Haegen, Minister of Infrastructure and the Environment , The Netherlands
Melanie Schultz van Haegen, Minister of Infrastructure and the Environment of the Netherlands, on the history between the two countries, regional prominence, and future agreements.
read articleInside Perspective
HH Sayyid Faisal bin Turki Al Said, Director General, Marketing & Media, PAIPED
HH Sayyid Faisal bin Turki Al Said, Director General, Marketing & Media, of the Public Authority for Investment Promotion and Export Development (PAIPED), on competitiveness, growth, free zones, infrastructure, logistics, tourism, aquaculture, and technology.
read articleInterview
Mohammed Abdallah Al Kharusi, Group General Manager of Business Development , Mohsin Haider Darwish (MHD)
TBY talks to Mohammed Abdallah Al Kharusi, Group General Manager of Business Development at Mohsin Haider Darwish (MHD), on training the Omani workforce, developments in the industrial gas segment, and the group's many activities.
read articleB2B: Sohar Industrial Port Company
Find the Right Berth
TBY talks to André Toet, CEO of Sohar Industrial Port Company, and Jamal T. Aziz, CEO of Sohar Freezone & Deputy CEO of Sohar Industrial Port Company, on relations with between Rotterdam and Oman, freezones, and attracting investment.
read article