SMALL THINGS, BIG OPPORTUNITIES
Oman wants to be at the forefront of a world where the internet links not only people, but also our devices and actions to create a more efficient, integrated ecosystem.
Projections for the exact growth of the Internet of Things (IoT) market vary widely, but two things are clear: Internet of Things will be huge, and Oman is seizing this opportunity to catapult the Sultanate through the 21st century.
SAS Institute estimates that IoT's market potential will reach USD11 trillion globally by 2025 and posits that analytics and data-driven innovation are the keys to unlocking this massive market potential. Bain speculates that IoT vendors, including those selling hardware, software, and comprehensive solutions, could see annual revenues exceed USD470 billion as soon as 2020. In terms of number of connected devices, IHS forecasts that “things” could increase nearly five fold in 10 years, from 15.4 billion in 2015 to 75.4 billion in 2025.
And Oman wants its piece of this rapidly growing pie. In 2016, Omantel, the nation's first telecommunications company and primary provider of internet services, partnered with Sigfox, the world's leading provider of connectivity dedicated to IoT, to create mOmkin, also known as Internet of Things LLC. mOmkin, launched in July 2016, is Oman's leader in integrated telecommunications. The company's IoT solutions apply to a range of sectors: home and lifestyle, industry, retail, finance, government, automotive, utilities, health, agriculture, and the environment.
Since its establishment, mOmkin has covered more than 70% of the Sultanate with Sigfox's network, including the regions of high population density and the most critical industrial and commercial significance. mOmkin plans to extend coverage to other regions by the end of 2017.
The new company signed its first commercial agreement with the Oman's National Mineral Water Company (NMWC) in the first half of 2017. In a mOmkin press release, Managing Director of NMWC John Pugh expressed his excitement over being the first business in Oman to offer a new IoT-based customer service initiative that will allow consumers to order water to their homes or offices at the touch of a button.
The agreement was signed at Comex 2017, Oman's IT, telecoms, and technology show. And Oman has no shortage of other ICT-related events to propel the country to further develop its ICT and IoT offerings, differentiating the Sultanate from other GCC countries trying to diversify their economies through technology and innovation. In November 2017, Muscat hosted a summit completely dedicated to IoT and its impact on business, governments, and society. Omantel, along with Oman Fiber Optic, are gold sponsors of the Smart City Summit Oman in April 2018, focusing on how to facilitate communication between resources, sensors, and systems to create an advanced smart city.
This increasing interest in innovation has produced the country's National Innovation Strategy (NIS) in early 2017. NIS, led by The Research Council of Oman (TRC), is expected to replace traditional thinking in regards to business, with a more creative and knowledge-based economy. The first phase of the strategy focuses on the expansion of the country's broadband network, allowing everyone access to the internet. NIS implies that this transition from a traditional mentality and economy toward an innovation-based economy is “a matter of survival.”
More than just surviving, Oman hopes to thrive, aiming to be among the top-20 most innovative countries by 2040, according to NIS. The leading international indicators of national innovation systems are the Global Innovation Index, the Knowledge Economy Index, and the International Competitiveness Index. In the 2017 Global Innovation Index rankings, Oman placed 77th, a fairly far cry from the top-20 most innovative economies.
Cracking into the elite top-20 group will require coordinated commitment from all stakeholders at all levels—from innovation and security policy to household internet connectivity. Oman is encouraging engagement with IoT with optimism of becoming a leader in IoT and innovation.
SMALL THINGS, BIG OPPORTUNITIES
TABLE OF CONTENTS
Focus: Oman-Iran Relations
Nothing Personal
A new automotive production venture and undersea gas pipeline project highlight the long-term and historic friendship between Oman and Iran, underscoring their policies of transparency and non-interference with the aim of achieving the best possible conditions for the economies and people of both countries.
read articleInterview
Abdullah Nasser Abdullah Al Bakri, Minister , Manpower (MoM)
TBY talks to Abdullah Nasser Abdullah Al Bakri, Minister of Manpower (MoM), on its ongoing efforts to boost Omanization across sectors, streamlining the employment process in the private sector, and developing human resources in the country.
read articleInterview
HE Talal Al Rahbi, Deputy Secretary General , Supreme Council for Planning (SCP)
TBY talks to HE Talal Al Rahbi, Deputy Secretary General of the Supreme Council for Planning (SCP), on its key responsibilities, ensuring a more sustainable policy, and the importance of economic diversification.
read articleInterview
Dr. Hilal Al-Qamshoey, Project Director, Oman National Spatial Strategy (ONSS)
TBY talks to Dr. Hilal Al-Qamshoey, Project Director of Oman National Spatial Strategy (ONSS), on the importance of addressing the challenges to growth, assessing potential, and attracting greater FDI.
read articleInterview
Khalid Al Yahmadi, CEO, Muscat National Development and Investment Company (ASAAS)
TBY talks to Khalid Al Yahmadi, CEO of Muscat National Development and Investment Company (ASAAS), on its projects to diversify Oman's economy, sectors with growth potential, and its goals for 2018.
read articleCommuniqué: Ithraa
Exports Matter
Exports matter because they represent the very sectors that drive wealth, attract investment and talent, boost productivity and innovation, and generate employment. Industry accounted for 47.6% of Oman's GDP in 2017 and our non-oil exports were over USD6.2 billion. Today, Omani firms export to 135 countries.
read articleInterview
Khalifa Abdullah Al-Barwani, CEO, National Center for Statistics and Information (NCSI)
TBY talks to Khalifa Abdullah Al-Barwani, CEO of the National Center for Statistics and Information (NCSI), on the many benefits of its information apps, the growing focus on logistics, and supporting the public and private sectors with valuable data.
read articleInterview
Dr. Dhafir Awadh Al-Shanfari, CEO, Oman Authority for Partnership for Development (OAPFD)
TBY talks to Dr. Dhafir Awadh Al-Shanfari, CEO of Oman Authority for Partnership for Development (OAPFD), on the goals of the authority, its current projects, and its focus for the medium term.
read articleInterview
Khalid bin Al Safi Al Haribi, Acting CEO, Public Authority for SMEs Development (Riyada)
TBY talks to Khalid bin Al Safi Al Haribi, Acting CEO of the Public Authority for SMEs Development (Riyada), on instilling an entrepreneurship culture amongst Omanis, key areas for development, and doing more with less.
read articleInterview
Yaqoob Saif Al Kiyumi, CEO, Oman Power and Water Procurement Company (OPWP)
TBY talks to Yaqoob Saif Al Kiyumi, CEO of Oman Power and Water Procurement Company (OPWP), on the challenges of growing water and electricity demand, planning for renewable energy projects, and its key objectives in the long term.
read articleInterview
HE Tahir Bin Salim Bin Abdullah Al Amri, Executive President, Central Bank of Oman (CBO)
TBY talks to HE Tahir Bin Salim Bin Abdullah Al Amri, Executive President of the Central Bank of Oman (CBO), on revising the country's FDI laws, financing the fiscal debt via issuing bonds, and its efforts to promote SMEs.
read articleInterview
HE Abdullah Salim Al Salmi, Executive President, Capital Market Authority (CMA)
TBY talks to HE Abdullah Salim Al Salmi, Executive President of the Capital Market Authority (CMA), on promoting greater activity in the financial services sector, encouraging investors to go beyond the banking sector, and its upcoming projects.
read articleInterview
Dr. Ashraf bin Nabhan Al Nabhani, Chairman, Muscat Securities Market (MSM)
TBY talks to Dr. Ashraf bin Nabhan Al Nabhani, Chairman of Muscat Securities Market (MSM), on the evolution and maturity of the stock market, increased privatization initiatives, and plans to demutualize.
read articleInterview
Murtaza Jariwala, Executive Director, Vanguard Engineering & Oilfield Service
TBY talks to Murtaza Jariwala, Executive Director of Vanguard Engineering & Oilfield Services, on manufacturing and value addition, successful long-term partnerships, and how to best thrive as a truly local company.
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Hilal Mohammed Hamoud Al Busaidi, CEO, Public Authority for Mining (PAM)
TBY talks to Hilal Mohammed Hamoud Al Busaidi, CEO of the Public Authority for Mining (PAM), on increasing metal exploration, sharing the risk with investors, and banking on the rare commodity of quality.
read articleInterview
Dr. Salim Sultan Al Ruzaiqi, CEO, Information Technology Authority (ITA)
TBY talks to Dr. Salim Sultan Al Ruzaiqi, CEO of Information Technology Authority (ITA), on facilitating the investment experience in Oman, taking a coordinated approach to cybersecurity, and giving young people the right exposure.
read articleInterview
Firas A. H. Al-Abduwani, Founder & CEO, Hussam Technology Company (HTC)
TBY talks to Firas A. H. Al-Abduwani, Founder & CEO, and Mohammed Al-Abduwani, COO of Hussam Technology Company (HTC), on making Oman a better place to do business, meeting an ever-expanding customer base, and diversifying one's project capacity.
read articleInterview
Sheikh Aimen Ahmed Sultan Al-Hosni, CEO, Oman Airports Management Company (OAMC)
TBY talks to Sheikh Aimen Ahmed Sultan Al-Hosni, CEO of Oman Airports Management Company (OAMC), on providing a functioning operational platform, top notch end-to-end logistics, and creating competitive advantages for Omani shippers.
read articleFocus: Integrated Tourism Complexes
A Land for All
Oman's integrated tourism complexes (ITCs) allow foreign nationals to own property on a freehold basis. They have given the country's tourism and real estate sectors an innovative boost and might pave the way for further liberalization.
read articleInterview
HE Hamed Said Al-Oufi, Undersecretary, Fisheries Wealth of the Ministry of Agriculture & Fisheries Wealth
TBY talks to HE Hamed Said Al-Oufi, Undersecretary of Fisheries Wealth of the Ministry of Agriculture & Fisheries Wealth, on food security, opportunities for development in the industry, and new infrastructure projects.
read articleInterview
Eng. Saleh M. Al Shanfari, CEO, Oman Food Investment Holding Company (OFIC)
TBY talks to Eng. Saleh M. Al Shanfari, CEO of Oman Food Investment Holding Company (OFIC), on Oman's competitive advantages in food, growing demand for diverse food products, and becoming a regional food hub.
read articleInterview
Ahmed Akaak, Chairman, Oman National Livestock Development Company (ONLDC)
TBY talks to Ahmed Akaak, Chairman of the Oman National Livestock Development Company (ONLDC), on partnerships to boost the quality of animal feeds, the agriculture industry, and the Sultanate's national economy.
read articleReview: Education
New School
Oman's education sector has made massive strides in recent years, and moving forward, government officials see improving teacher quality and increasing international exchange as keys to giving a young and growing population the tools they need for the future.
read articleInterview
HE Dr. Hamood Khalfan Al Harthi, Undersecretary of Education & Curriculum , Ministry of Education
TBY talks to HE Dr. Hamood Khalfan Al Harthi, Undersecretary of Education & Curriculum of the Ministry of Education, on meeting international standards, increasing the teaching staff, and implementing reforms.
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