Muscat: By the end of 2024, Khazaen Economic City in South Al Batinah Governorate hosted nine health sector projects. These projects attracted a total investment of OMR 156 million (about $405 million). This development demonstrated Khazaen Economic City’s growing role in Oman’s economic growth.
Khazaen Economic City aimed to become a key hub for diverse industries, particularly the health sector. The established projects focused mainly on pharmaceutical industries. These projects included the production of human vaccines, medicines, and medical supplies. Additionally, the zone featured facilities for storing and importing medical equipment. These initiatives significantly contributed to improving Oman’s healthcare infrastructure.
The new investment helped Oman become more self-sufficient in producing essential medicines and medical supplies. By reducing reliance on imports, these projects strengthened the country’s healthcare sector. Furthermore, they created valuable job opportunities for local talent, which boosted employment in the pharmaceutical and healthcare industries.
In addition, the integration of both local and foreign investments highlighted Oman’s commitment to attracting international businesses. This collaboration supported Khazaen Economic City’s goal of diversifying Oman’s economy. The presence of pharmaceutical projects fostered innovation, leading to long-term growth in the sector. By attracting foreign investment, the city solidified its position as a center for economic development.
Khazaen Economic City’s strategic location in South Al Batinah Governorate proved to be another advantage. The city’s logistical benefits made it an ideal place for distribution and supply chain operations. With easy access to regional markets, the city facilitated the smooth import and export of medical goods. This, in turn, enhanced the efficiency of the healthcare industry and strengthened Oman’s competitive edge in the global market.
Furthermore, the growing healthcare sector in Khazaen Economic City played a key role in Oman’s overall economic diversification strategy. As more pharmaceutical projects were established, the city continued attracting investment in other industries. This contributed to creating sustainable growth for Oman’s economy, moving beyond its reliance on oil revenues.
In conclusion, the establishment of nine health sector projects in Khazaen Economic City marked a significant milestone for Oman. With a total investment of $405 million, these projects transformed the healthcare landscape. By focusing on innovation and self-sufficiency, Khazaen Economic City contributed to Oman’s long-term prosperity and economic diversification.
