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The United Nations Industrial Development Organization (Unido) has underlined Oman’s significant role in the global energy transition.
Speaking at the Omani Industry Day celebrations earlier this week, Gerd Müller, Director General of Unido, shed light on some of the key challenges affecting the world. “The world is facing emerging challenges that are fundamentally reshaping the future, and we must address them together. One of the major trends shaping our world by 2050 is population growth.
Every year, the global population increases by 80 million people, primarily in developing countries. In Africa alone, the population will double from 1.2 billion to 2.5 billion by 2050. This rapid growth, combined with rising living standards and the global fight against hunger, will drive food demand up by 50 per cent over the next three decades,” he shared.
The Director General further added: “Another major trend is climate action and the future of energy, which is particularly relevant to Oman. As a key player in the energy sector, Oman has a vital role to play. By 2050, global energy demand is expected to increase by 70 per cent, and while oil and gas remain important, hydrogen production will become increasingly significant. At the same time, the world is experiencing resource scarcity, and the digital and energy economies of the future will require a vast supply of critical minerals.”
According to the Director General, the Sultanate possesses critical minerals crucial for the transition, which also present a huge market opportunity for the country’s mining industry, “Oman possesses many essential critical minerals that are crucial for the green transition, clean energy, electric vehicles, and hydrogen production. These minerals present a tremendous market opportunity for Oman’s industry, particularly the mining sector.
The extraction of critical minerals in Oman is expected to increase globally by 500 per cent over the next decade. The challenges of climate change and resource scarcity make it clear that the future of industry is rooted in innovation,” he stated.
Earlier this week, the UN body announced the signing of a Memorandum of Understanding ( MOU) with the Omani Government to establish a strategic partnership to support Oman’s Industrial Strategy 2040. “The country’s economic progress and development are highly impressive, and at Unido, we take pride in supporting the development of Oman’s Industrial Strategy 2040. Industrialization is the foundation for development, creating decent jobs and incomes, particularly for the younger generation,” Müller added.
Concluding his address, the General Director invited the Sultanate to join Unido’s green mining initiative which aims to address stabilising supply chains in the sector. “Unido launched the Global Alliance for Responsible and Green Mining. Through partnerships, we aim to establish a fair global framework for mining and mineral processing.”