2021-06-21

Oman Investment Authority (OIA) commends the achievement ASYAD Group

Oman Investment Authority (OIA) commends the achievement ASYAD Group – an entity under OIA- for handing over the first ship supervised by a national workforce on the Duqm dry dock.

The achievement is in line with OIA’s direction towards supporting the logistic and industrial sectors, which are among the most promising sectors contributing to the Sultanate’s economic diversification, based on the Oman Vision 2040. The focus on the logistical and industrial sectors represent efforts to revive the Omani Martine heritage by making the Sultanate a global centre and logistical gateway between the East and West. As a result, the competitiveness of Omani ports in international performance indicators has increased, making the Sultanate among the best ten countries in logistics and associated commercial services. Empowering the logistics and industrial sectors has also led to enhancing the In-Country Value through localisation of industries, which will enable the two sectors to contribute to GDP, generate employment for Omanis and achieve sustainable development at all levels.

This achievement represents the country’s entry into a new phase of industrialisation in Duqm due to the excellent capabilities of the dry dock, which enhances the Sultanate’s global position in line with the National Logistics Strategy 2040. The Duqm Dry Dock was recently ranked “the best in the Middle East and the Indian subcontinent for the year 2021 AD”, which will attract international companies to benefit from its integrated services for all vessel types.

Move forwards Oman Investment Authority (OIA) emphases its efforts to integrate between its entities and the private sector through investment partnerships to advance the country’s economic sectors. Moreover, OIA stresses the importance of believing and investing in the national competencies’ ability to lead the next phase in various sectors.