Logistics industries can strengthen Oman’s economy

31/07/2016 05:59 AST

The Business Year (TBY), a publisher of yearly research on national economies and business environments, recently published The Business Year Oman: 2016 and is now performing in-country research for their 2017 publication. The Observer spoke with Betul Cakaloglu to discuss her expectations for the project and her business outlook for the country.

Q: This is The Business Year’s fourth edition produced in Oman. How has TBY adapted to create new innovations for its readers each year?

A: We are constantly creating new tools designed to both enhance the editorial content of our publication and increase its readability to even the most casual readers. In this capacity, TBY has a new system of analytics in place where we can leverage the access that we have with Oman’s top business executives to create a Business Confidence Index (BCI) for the country. The first manifestation of the Oman BCI was launched in the 2016 publication and it will be continuously expanded upon to offer even more information in the run up to the release of the 2017 edition. In addition, we have populated our pages with more engaging and easy to follow infographics, which offer sometimes economically complex concepts in a way that is legible and informative. We also shift the editorial focuses we have for the publication each year to ensure that we are adequately covering the domestic economic situation.

736445Q: Oman released its 9th Five-Year Plan to guide the country to the year 2020 in which the government named some key sectors. Which of these sectors in Oman do you think can attract more local and international investments moving forward?

A: I think that logistics was properly identified as a sector that has enormous potential in Oman. Perfect location notwithstanding, Oman also has the unique attribute of not having any enemies in the region or even internationally. This opens them up to play the role of an international logistics hub in one of the busiest shipping lanes in the world. The infrastructure related to the country’s ports is progressing on track, especially at the ports in Sohar and Duqm, which will enhance Oman’s attractiveness in international shipping routes. The expansion of the airport in Muscat is expected to finish in late 2016, which will also increase the air freight capabilities of Oman. There are many different projects going on in the country focusing on logistics, such as the massive Khazaen project, that I believe can help strengthen the domestic economy and improve Oman’s international economic position. Strong logistics can have the effect of improving many other industries of the country as well by facilitating the movement of national Omani goods on international markets.

Q: With the creation of the Public Authority for Mining in 2014 and now with the announcement of the creation of Minerals Development Oman (MDO), how would you assess the potential of the country’s mining sector?

A: I believe the mining sector has to overcome some bureaucratic hiccups, which it is working to address through PAM, but otherwise mining has great, untapped potential in the country. The natural mineral wealth of Oman is remarkable and right now the country needs to invite proper investment into the sector to capitalize on the potential gains. Omani companies may also need to reach out to import skills and technology to take the development of mining to the next step. Again, as the logistics infrastructure improves, mining will flourish. This is especially due to the fact that Oman sits across the ocean from one of the most resource hungry countries on earth in India.

Q: How does your partnership with Ithraa add value to your publication and help in the production of the Oman edition of The Business Year every year?

A: Ithraa has been an indispensable partner to us over our years in the market and we have been honoured to work with them on this project. They assist us with

Oman Daily Observer