Oman is advancing its In-Country Value (ICV) initiatives to transform the economy and strengthen local industries. Importantly, ICV will remain central in creating jobs, boosting innovation, and improving global competitiveness. By 2030, ICV will reshape industrial development and, consequently, position Oman as a regional hub for sustainable economic growth.
Building on the strong foundation of Oman Vision 2040, authorities aim to scale ICV across the country. Consequently, local businesses will join supply chains in manufacturing, logistics, renewable energy, ICT, and tourism. Authorities expect ICV to contribute over 40 percent to GDP by 2030, up from 32 percent in 2024.
Meanwhile, manufacturing will continue driving growth, targeting a 20 percent GDP contribution. In addition, investments in renewable energy, especially green hydrogen, will strengthen the sector further. Moreover, tourism and aviation industries will aim for 25 percent local participation, promoting inclusive growth and more job opportunities.
To expand local supply chains, Oman will integrate over 10,000 SMEs into primary value chains by 2030. Therefore, public-private partnerships led by the Omani Investment Authority and SME Development Fund will develop supplier clusters in Suhar, Al Duqm, and Salalah. These clusters will focus on high-value sectors, including light manufacturing, agribusiness, food processing, and digital logistics services.
Furthermore, the Majd ICV Platform will evolve into a national digital system. It will track ICV metrics, corporate performance, and workforce development in real time. Likewise, Omanisation policies will ensure over 90 percent of energy sector positions and 70 percent of industrial services roles are held by Omani nationals by 2030.
In addition, education and vocational programs will match industrial demands, emphasizing STEM, robotics, automation, and digital trades. Meanwhile, AI analytics will allow authorities to monitor corporate performance, supply chains, and workforce growth. This approach will promote innovation and informed decision-making.
Through these initiatives, Oman is creating a knowledge-based, globally competitive economy. Therefore, ICV will remain central in supporting sustainable growth, empowering local businesses, and building a skilled workforce. By 2030, ICV will drive inclusive economic development, strengthen social contracts, and establish Oman as a regional leader in industrial innovation.
