LIFTING THE INDUSTRY
By following best practices from around the world and employing new technologies, Oman is ready to give its agribusiness industry the boost it needs.
BIOGRAPHY
Ahmed Akaak is currently the Chairman of ONLDC and the Deputy CEO at the Port of Salalah. Akaak has been with the port since January 2000, where he has worked in several key positions including chief corporate officer and general manager for human resources.
What are the major challenges and biggest gaps facing the agricultural industry and agribusiness in Oman?
Most of the challenges that farmers and agribusiness face are mostly related to efficiency. Oman has a great deal of natural resources and one of the richest fisheries, and we need to make sure our fresh and canned fish can reach the market in a good state and timeframe. We need to seek help from agri-partners in countries that have a solid structure for our sector. We cannot rely on the conventional processes we were used to. With Tanfeedh, we have seen great progress; the right warehousing and supply chain are present. Then, we should have a calibration between logistics and agricultural products so we can capture our share of this market in the region.
Does development need to come mostly from public sector initiatives for the time being or should the private sector drive this?
This could be achieved through PPPs and other arrangements. We need to look more at the private sector with government arms such as Oman Global Logistics Group (ASYAD) and Oman Investment and Finance Co. (OIFC) playing a part in supporting and motivating key investors. The government should use its strength as a key advocate to help SMEs play a part in the industry, creating many jobs for Omanis. It could bridge the gaps between OIFC and ASYAD to help young Omanis, who have been using conventional processing in the past, to either create new manufacturing plants or use new production chains. If people can see the effort and approach in each region and company in Oman, they can see there is a platform that applies across the country. Oman could generate a solid revenue from this, though it will never happen unless we invest in the entire supply chain. We should use our strengths and engage with partners in other areas to lift our practices and industry to global standards.
What role do foreign players have in ensuring global standards are achieved?
We should look at the farmers in Brazil or the Netherlands. Those countries have the best practices when it comes to consumable items and supply chain outcomes. We could associate with those companies to help us with the set up in our industry. We first need to secure the local market and then build up the volume we need to generate sales out of this market. In addition, we need to build a reputation, and for that we need to look for global strategic partners, such as retail outlets. Now, most of our exports go to certain markets, though people do not see that these products meet certain international standards when it comes to handling, processing, grading, and so on. Now, with the government support and the introduction of best practices, this should give consumers the comfort they seek. We need to ensure that Omani products overseas sit unique and exceptional, with their own identity. We need to collaborate to properly market ourselves.
How will innovation come into play in this massive transformation, and will the new technology come from within Oman or from abroad?
We need to look wherever the best automated processes are being used. Some of our products can easily be damaged unless there is efficiency behind their handling and processing. We need the best solutions to replace traditional processes. It will be costly for people to shift from one system to another; however, that is the only way we can sustain our businesses into the future. We have a younger generation today that is focused on technology and driven to get there. Today, people have tracking systems and other equipment that allow them to build greater efficiency. We should not resist these developments. We should be open-minded and embrace all new technology and innovation that can drive excellence in our processes.
LIFTING THE INDUSTRY
TABLE OF CONTENTS
Focus: Future foreign policy
Friends to all, enemy to none
In championing the late Sultan Qaboos' non-interference foreign policy, the new ruler of Oman, Sultan Haitham bin Tariq Al Said, is determined to work for friendship and peace, justice and harmony, and coexistence and positive constructive dialogue.
read articleInterview
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.
read articleInterview
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.
read articleInterview
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.
read articleInterview
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.
read articleB2B
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.
read articleInterview
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.
read articleFocus: Port 4.0
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.
read articleFocus: Gap in tourism services
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.
read articleB2B
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.
read articleB2B
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.
read articleInterview
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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