Oman's Government Establishes Oman Global Logistics Group
(MENAFN- Emirates News Agency (WAM))
Muscat, 8th June, 2016 (WAM) -- Dr. Ahmed bin Mohammed al-Futaisi, Minister of Transport and Communications, announced the Government''s decision to establish Oman Global Logistics Group SAOC, a holding Government company that consolidates all the Government investments in the ports, free zones, rail, maritime and land transport companies. The aim is to synchronize investment and development objectives and therefore exploit the assets capabilities and potential in order to maximize the return on investment.
The Group will be the Government development arm and will play a pivotal role in creating major growth opportunities so the logistics sector can elevate its contribution to the GDP significantly.
A key mandate for the Group will be the implementation of the National Logistics Strategy, under the direct supervision of the Ministry of Transport and Communication. A key drive in the implementation will be to activate the role of the private sector in nurturing logistics through joint investments and innovation, as well as developing national capacity and capability in order to unleash the potential of employment opportunities.
The Group will also have the mandate to take the necessary measures to implement the policies drawn by the Government, including the coordination and integration between the Government agencies concerned to achieve the Group investment and development objectives. In addition, it will have the responsibility to monitor the performance of the Group companies through agreed performance indicators.
The Sultanate has translated its efforts to develop the logistics sector through massive infrastructure investments in a number of specialized industrial zones and deep world class ports that provide excessive and competitive capacity to attract major ship liners. The ports and industrial zones are also well linked by a sophisticated roads network to ensure smooth cargo movements between the ports, industrial zones and the end customers.
Moreover, the Sultanate has just completed the preliminary design of its entire planned rail network, which aims to link the ports, economic, industrial and commercial areas and also areas with potential urban growth so these assets can yield their full economic potential.
The Sultanate has equally developed a mature road transport sector, both public and private through the sophisticated infrastructure and the issuance of laws, regulations and legislations governing the sector development in line with international best practices.
In a similar direction, the Ministry of Transport and Communications is currently working on setting-up a holding company for the civil aviation sector, which will include Oman Air, Oman Airports Management Company and Air Navigation Company (under incorporation). The holding company will help the enhancement of the sector services and ensure the operation and management are in accordance with the policies determined by the Government.
WAM/tfaham