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Investment opportunities worth RO 1.2 billion identified in Oman’s maritime sector

The total value of cargo handled by Omani ports amounted to RO 15.986 billion in 2023, according to data shared by Captain Majid bin Saif al Barhi, Director General of Maritime Affairs at the Ministry of Transport, Communications, and Information Technology.

Speaking to the Observer during celebrations marking World Seafarers Day, held yesterday June 24, the official underscored the significant role maritime transport plays in the country’s economy.

In volume terms, Omani ports handled 97.113 billion tonnes of cargoes last year, with imports amounting to 37 billion tonnes, exports 59 billion tonnes, and re-exports 1 billion tonnes.

Capt Al Barhi revealed that the maritime transport sector accounted for a 11.78 per cent share of the overall transport sector’s GDP contribution amounting to RO 2.25 billion.

The Ministry of Transport, Communications, and Information Technology has identified 5 investment opportunities within the maritime sector valued at around RO 1.2 billion as a result of previous investment laboratories.

According to Capt Al Barhi, the Ministry is currently in the process of collaborating with stakeholders to move them forward. The opportunities include the construction and maintenance of medium and large ships, ship fueling bunkers, aluminum boat construction and maintenance, ship recycling, and the construction of dry docks.

In 2023, the Ministry signed eight cooperation agreements related to maritime transport, ten agreements with international classification societies, and 11 MOUs for mutual recognition of seafarers’ certificates. Furthermore, the Ministry issued 734 seafarers’ certificates and conducted 628 exams.

Celebrations of the World Seafarers Day were held under the patronage of Dr Mohammed bin Nasser al Zaabi, Secretary General of the Ministry of Defence. Eng Said bin Hamoud al Maawali, Minister of Transport, Communications, and Information Technology, was also present.

The event featured workshops tackling various maritime topics, a parallel exhibition, and an award ceremony honoring achievements and personnel in the maritime sector.

Additionally, a new online service for renewing seafarers’ certificates was launched during the event.

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