SWEET SUCCESS
To grow its business in an increasingly competitive environment, Oman Refreshment is initiating several initiatives, including new launches.

BIOGRAPHY
Youssef Ezzikhe holds a BA in marketing and an Executive MBA. He is a business professional with senior experience in leading FMCG and industrial sectors in North Africa and GCC markets in companies, including Procter & Gamble and PepsiCo. He joined the company as CEO in 2010.
Given the intense competition in Oman's highly price sensitive market, what is your strategy to further grow your market share in the medium term?
Today, we face a new demographic reality, as in the past few years a number of expats have left the country. This subsequently had a negative impact on consumption levels in Oman. Moreover, the economy is witnessing a cashflow issue, which led to a rise in bounced checks and the closing down of a number of retail shops. Despite these challenges, our business has seen significant changes mostly because of the introduction of the excise tax on carbonated soft drinks in June 2019 and further expansion of other sweetened beverages projected in 2020. Potentially, the VAT represents another challenge that can affect our margins, so we have to adjust accordingly. So far, we have sought to respond swiftly by offering a variety of sizes providing different price points that cater to all socio-economic categories of consumers in the Sultanate. In order to grow our brand preference in the country, we have initiated several marketing initiatives including new launches that offer superior brands in terms of taste, positioning, and packaging.
How do you expect demand across your lines to evolve in the medium term, and what market factors will be responsible for this evolution in the consumer-packaged goods (CPG) business?
Today, we maintain a large presence across the Sultanate, especially in the carbonated soft drinks segment, of which we have an 86% market share. Growth in health awareness and consciousness trends is an inevitable trend, which is why have to monitor market trends and respond in an appropriate manner. We have introduced different products that provide less sugar, fewer calories, natural ingredients, and no sugar added formulas. These products have gained momentum and helped us gain more consumers in Oman.
How is technology impacting your business model the most, and where do you expect technological advancements to have the deepest impact on the nature of the Omani F&B industry?
Technology and innovation are impacting the entire manufacturing industry in different ways. For example, it has become a necessity to move to real-time data, connectivity, and traceability. Although we are not into predictive analytics, we are trying to control the entire process, from procurement to consumer. In this regard, we partnered with Salesforce. For consumers, access to continuous information that some time is not reliable can cause serious harm to the equity of global brands. Our company is partnering with the relevant authorities to provide accurate data to consumers when and as needed. The VAT introduction will force all SMEs, which are the majority of our customers, to implement IT systems. It is crucial for us to partner with banks to ensure our customers are using credit cards.
What are other the major risks the Omani F&B sector faces in the medium term, and what strategies are you planning to adopt to hedge them?
The future of the F&B sector depends on several factors. For the CPG industry, the biggest factors are fluctuations in the prices of raw materials and changes in consumer trends. Through our ongoing monitoring and forward purchasing, we have been able to mitigate these risks while continuously listening to our consumers and getting feedback. In 2019, our company led several initiatives in partnership with organizations and government institutions such as such Topfruit, the Ministry of Tourism, Aquafina, Spartan Sport Race, Cheetos, and Muscat Eat Food Festival, to name a few.
How do you expect the growth of food delivery & e-commerce in Oman to impact the local F&B sector, and what are the key requirements to remain ahead of the innovation curve?
We are witnessing a rapid growth in e-commerce and food delivery in Oman. We have partnered with major platforms in Oman through which we aim to provide F&B offers to our loyal consumers at the best prices and conditions possible.

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.
read article