FAMILY GROUPS
With greater privatization planned for Omani's economy, these family groups are ready for the change PPPs and SMEs will bring to the logistics sector.
What is your assessment of the current logistics sector in Oman?
MICHAEL E HANSEN Because of its location, Oman is well-placed to be the main logistics entry port of the GCC and Indian Ocean-rimmed countries. The first challenge is improved competition from established players such as Dubai and Saudi Arabia; the winners will be those countries that enable people to do business in the region the fastest to reach their markets. Accordingly, barriers that hinder products or services from reaching end customers must be removed. Oman is a top pick because of its stability and solid relationships with its neighbors, a real advantage if one wants to do business in the GCC. The second challenge is to aggressively market to and educate foreign investors that Oman is the best place to do business in the region because we have young and educated talent and an improving ease of doing business.
What was the driver behind your decision to enter the drone technology segment, and how do you plan on building your group's strategy around it?
AADITYA KHIMJI We have a unique opportunity today as we have partnered with Aaronia to provide a disruptive technology that solves a relatively new issue in drones. The solution they offer, however, provides more than just drone monitoring, as it is able to monitor the complete RF spectrum in real time. We are now working with several companies around the world that offer complementary solutions to integrate with the Aaronia ecosystem. My current focus is on bridging technologies that have synergies and integrating solutions for end users' needs. Today, major system integrators focus on acquiring technology from smaller players once the technology has gained some traction and is mission tested. As such, our future focus will be on building a consortium of technologies that can compete in the global market and allow us to build our capabilities in system integration. We are still in the early days of the industry, and there will be an enhanced need for monitoring and regulation as the use and capabilities of drones are developed. DHL, Amazon, and other major players are investing in developing the technology to incorporate drones into their operations, which will exponentially multiply the number of drones in the air at any given time.
How ready is the private sector to engage as the main engine of economic growth in Oman?
MEH Oman is witnessing a process of involving and encouraging the private sector to do business in partnership with the Omani government through PPPs. So far, the government is the owner of strategic assets like ports and airports. Through these partnerships, both entities leverage value from one another by keeping them aligned to do business efficiently together. There is probably more to be done, and the nature and type of business is always changing. We have significant changes happening in the region, such as China's One Belt, One Road initiative, and the emergence of a large hub in Pakistan at the Port of Gwadar. We are able to do more with the young people we have, but there will always be competition. Oman needs to lead, though at the moment it is just getting up to speed and needs to accelerate.
AK As a company, we believe it is the responsibility of established private enterprise to support young Omani entrepreneurs and companies to achieve sustainable growth. We recently signed an agreement with an Omani SME, Green Universe Enterprise, to develop its business in renewable energies. The current global crisis has had major impact across the board, including a positive impact on the environment from reduced greenhouse gas emissions standpoint. As we come out of this crisis, we must innovate and accept technology that can allow for a more sustainable tomorrow. We are a nation in transition, and, as other countries in the region seek methods of diversification, it is important for the Sultanate to define its goals moving forward. We must, however, be ready for and accepting of change as traditional business models have lost their place in the global marketplace. We have the opportunity; now, it is up to us to put in the effort and find our niche in our respective fields.
FAMILY GROUPS
TABLE OF CONTENTS
Focus: Future foreign policy
Friends to all, enemy to none
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David Kalife, CEO, Oman Oil Marketing Company (OOMCO)
Despite Oman's fuel market slowing down, OOMCO increased its sales volume of lubricants by 36% in 2019 and is constructing a greenfield bunker terminal at the Port of Duqm. The company has transformed while growing its expertise in Marketing and Digital.
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Azzan Al Busaidi, CEO, Ithraa
Azzan Al Busaidi is an expert in competitiveness and economic growth. He was appointed CEO of Ithraa in 2019 after 17 years spent covering managerial roles in the organization. Al Busaidi was previously Ithraa's director general of planning and studies and is a strong advocate of the potential of digitization. He holds an MBA from the University of Strathclyde and a BSc in Economics from Sultan Qaboos University.
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Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion & Former Chairman, Oman Chamber of Commerce and Industry
Private Omani companies will be able to benefit greatly from the Fourth Industrial Revolution by enhancing their local value-added strategies and upskilling the workforce.
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Tahir Bin Salim Bin Abdullah Al Amri, Executive President, Central Bank of Oman (CBO)
The Central Bank of Oman's job is to ensure there is adequate liquidity in the system and that banks remain robust and resilient to meet the credit requirements of all segments without undermining financial stability.
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Capital markets
CMA and MSM are supporting Vision 2040 by providing financing to government companies that intend to go public, financing expansion of existing and new IPOs, and widening the investors base in Oman by enhancing and developing the investment funds and insurance industries.
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Khalid Al Balushi, CEO, Khazaen Economic City
International investors and business owners can benefit from Khazaen Economic City's strategic location and its close proximity to the main gateways of the country to import, process, manufacture, distribute locally, and export their goods and services.
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Destined for greatness
Investments in world-class infrastructure have generated huge rewards for Oman. The goal now is to leverage technology as a disruptive enabler, build human capacity across the public and private logistics sectors, and drive operational efficiencies to build an integrated logistics business environment that is benchmarked against the world's best.
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All bases covered
An amalgamation of local companies and unique experiences in Oman has created an original flavor that is further differentiating Oman's tourism offering from other countries and in the process attracting scores of tourists from all across the world.
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Engineering design
Renardet Engineering Consultants and Design Unit Engineering are recognized experts in their fields. While the former is an international company strongly committed to excellent engineering consultancy services and environmental practices, the latter is an Oman-based team of architects and engineers that incorporates local culture and traditions.
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Construction materials
Oman's construction sector is facing a host of challenges, but Hempel Paints and Al Maha Ceramics are confident that a mix of forward-thinking business models, unique products, and strong government initiatives will help them through turbulent times and generate positive returns in the long run.
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Salim Razvi, CEO, Oman Academic Accreditation Authority (OAAA)
Focusing on higher education institutional accreditation, program accreditation, and the updating and maintaining of the Oman Qualifications Framework, OAAA is helping further advance higher education in the Sultanate.
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