Oman sets up 'Local Content Office’ to promote economy

MUSCAT: The Sultanate of Oman, through the Secretariat General of the Tender Board, is undertaking initiatives to strengthen local content, closely tied to the national workforce, domestic products, fixed assets, and development of small and medium enterprises (SMEs).

The drive to enhance these resources is motivated by their crucial role in bolstering the national economy and increasing the gross domestic product (GDP).

Eng. Badr Salim al Ma’amari, Secretary-General of the Tender Board, highlighted that the Board is committed to increasing the proportion of local content in government procurement contracts and projects, with a strong focus on effective implementation.

Speaking to Oman News Agency (ONA), Eng. Badr Salim al Ma’amari stated that this strategy is expected to positively influence the attraction of initiatives that will enhance the efficiency of economic sectors, improve the trade balance, and elevate the value of direct investment through the localization of industries. Moreover, this approach is anticipated to generate more job opportunities for Oman’s workforce, thereby advancing Omanization across various sectors.

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Eng. Badr Salim al Ma’amari also revealed that the Secretariat General of the Tender Board is in the process of establishing a national “Local Content Office,” which will focus on specialized areas to generate national revenue that can further strengthen the economy.

This goal is expected to be achieved through the development of national policies centred on local content, including strategies, plans, programs, and incentives, as well as conducting market studies to identify gaps and explore opportunities to maximize local content.

One of the initial steps for the Local Content Office will be the creation of a “unified and comprehensive database” designed to support strategic decision-making. This database will utilise mechanisms, standards, and indices to measure the efficiency of local content in meeting the desired developmental and financial objectives, said Eng. Badr Salim al Ma’amari.

The database will also create new opportunities for SMEs and local businesses, enhancing their competitiveness and their contribution to the national economy. Additionally, it will increase employment opportunities for Omanis, support domestic products, localize industries, foster sectoral integration, and promote the transfer of knowledge and expertise, Eng. Badr Salim al Ma’amari added.