Oman- Investments in industrial estates reach RO6.32bn

(MENAFN- Muscat Daily) Muscat- Total investments within Oman's industrial estates grew 5.5 per cent in 2017 to reach at RO6.32bn, according to the Public Establishment for Industrial Estates (PEIE).

The PEIE also announced the completion of a restructuring of the legislation aimed at increasing investments and cooperation from the private sector.

Hilal bin Hamad al Hasani, CEO of PEIE, said that the industrial estates have achieved growth for the tenth year in a row. He said, 'The preliminary figures for 2017 showed that the volume of investments in the various industrial estates has touched RO6.32bn, recording a growth of 5.5 per cent.'

He said the total number of people employed in the industrial estates rose by ten per cent in 2017 and touched 55,000. Hasani also announced the overhauling of the legislation governing the PEIE.

Hasani said the rapid decline in oil prices over the past few years and its consequences on various sectors has made PEIE consider restructuring its legal system, re-engineering all its operations to ensure regional and global competitiveness by attracting foreign investments and preserve the national investments.

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