Oman Business Leaders Call for Subsidy Phase Out

Khalil bin Abdullah al Khonji, the former head of the Oman Chamber of Commerce and Industry says that the present economic reality demands a reduction and eventual elimination of the regions huge subsidies.

Despite the fact that the public will protest the withdrawal of subsidies, business leaders say “there is no other way out due to the new economic reality.”

Khonji stated that,

“The fall in oil prices is affecting Oman in a big way. All the reports indicate that the prices are unlikely to reach US$70 until 2020.

“I hope my predictions are wrong, but there is a strong indication that the prices might fall further after the crucial Organization of Petroleum Exporting Countries meeting in Vienna on Friday. It might even touch US$30.”

He added that now is the best time to phase out subsidies, especially those on oil.

“We understand from government officials that citizens will not be affected if the subsidy is removed. We have to prevent smuggling of diesel and petrol to other countries.”

Oman Releases First Manufacturing Catalogue

Oman Chamber of Commerce and Industry

The Oman Chamber of Commerce and Industry held a ceremony in which the chairman of the OCCI, Khalil bin Abdullah Al Khonji was presented with the first copy of the first edition of the Omani Products Catalogue, a publication of the OCCI.

Produced by OmanAd in Conjunction with the OOCI

Ali Abdullah Al Kasbi, the managing director of OmanAd handed the catalogue to Al Khonji at the headquarters of the OCCI in Ruwi. OmanAd was responsible for the production and marketing of the new publication, which is available not only in book form but also as a CD for use on computer.

The Omani Products Catalogue is an indispensable resource for information about Omani manufacturing and production, presented bilingually in Arabic and English.

Eleven Categories

The catalogue lists approximately 100 firms divided into 11 different categories. The categories are as follows: chemicals, electric & electronic equipment, metal products, food & beverages, minerals & metals, non-metallic products, oil & natural gas, paper/plastic & packaging, seafood/fisheries, and textiles & garments.

The catalogue is organized into four sections to enhance its usefulness, and also presents articles about manufacturing in Oman and information about Oman’s economy and industries.

Accurate and Easy to Use

Another section lists the companies alphabetically and includes accurate and the most up-to-date contact information for the companies. Much research was done to present the most accurate possible information.

“We hope that the Omani Products Catalogue will provide a common platform for the Omani manufacturing sector to showcase their multifaceted capabilities to a fast changing world,” said Al Khonji in his opening address.

There will be distribution of the catalogue both nationally and internationally to assure the most widespread possible access. Free copies will be made available by the OCCI in Ruwi.