Oman Turns to Foreign-Backed Mining to Diversify Economy

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Researched by Industrial Info Resources (Sugar Land, Texas)--As part of a strategy to make its economy less dependent on oil and gas, Oman is adopting a new code that aims to increase its production and export of mined materials that are not part of the Oil & Gas Industry. Projects adopted under this code will have 100% foreign investment.

Oman has identified five "priority sectors" for this diversification: manufacturing; tourism; transportation and logistics; mining; and agriculture and fisheries. The mining sector is expected to contribute US$780 million to Oman's GDP by 2030.

Industrial Info is tracking more than 30 mining projects across Oman, totaling about US$3.3 billion in investment value. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of related project reports.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).