| 02 Aug 2010 |
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BAE Systems says Oman a key market
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LONDON/MUSCAT: In a bid to increase global footprint, the UK-based BAE SystemsBAE Systems
perceive Oman as an integral part of long-term business growth as defence spending in Britain and the US comes under pressure amid government budget cuts.
"We seek to tap business opportunities in Oman for the next three to four decades. Our changes in priorities and new investment strategy have identified the Sultanate among the top three markets worldwide," commented Alan Garwood, Group business development director of BAE SystemsBAE Systems, on the sidelines of the recently-concluded Farnborough International Airshow in the UK.
Europe's biggest defence company, which has been associated with Oman in supplying defence equipment for the past 30 years, has an ongoing £400-million five-year contract with the Royal Navy of Oman to build and supply three naval patrol vessels.
Guy Griffiths, International group managing director for BAE SystemsBAE Systems, pointed out that the company has identified a range of potential opportunities in Oman. "In line with this, we have decided to increase our investment in the Sultanate," he added.
"The company has offset obligations to train Omanis in maintenance and repair of the equipments that have been supplied in order to provide indigenous capability," Griffiths told Times of Oman.
On the other hand, the British arms manufacturer has reduced its reliance at home by establishing six home markets. In the entire Middle East, BAE SystemsBAE Systems has a home market only in Saudi Arabia and currently employs more than 4,900 workforce through increased use of local talents. BAE SystemsBAE Systems Saudi Arabia is one of the largest companies in the industrial sector since 1973 and employs over 2,400 Saudi nationals. Other home markets include Australia, India, Sweden, South Africa and the United States.
Home market is a term used for building own manufacturing facility in other country and not merely supplying equipment built elsewhere.
On investing in education sector in Oman, Grittiths said that the company has links with key Saudi universities in terms of structure and technical programmes. "We want to emulate Saudi model in the Sultanate, almost on the similar level. We want to build closer links with colleges and universities," the international group managing director told journalists last week at Farnborough, a sleepy village near London.
BAE SystemsBAE Systems has been funding programmes in engineering, business, management and medical fields at the Al Faisal University in Saudi Arabia.
The UK-based defence company, Grittiths said, seeks to support Omani economy and thereby contribute in jobs creation and wealth generation. "This will bring social and economic benefits to the country," he explained.
perceive Oman as an integral part of long-term business growth as defence spending in Britain and the US comes under pressure amid government budget cuts. "We seek to tap business opportunities in Oman for the next three to four decades. Our changes in priorities and new investment strategy have identified the Sultanate among the top three markets worldwide," commented Alan Garwood, Group business development director of BAE SystemsBAE Systems
, on the sidelines of the recently-concluded Farnborough International Airshow in the UK. Europe's biggest defence company, which has been associated with Oman in supplying defence equipment for the past 30 years, has an ongoing £400-million five-year contract with the Royal Navy of Oman to build and supply three naval patrol vessels.
Guy Griffiths, International group managing director for BAE SystemsBAE Systems
, pointed out that the company has identified a range of potential opportunities in Oman. "In line with this, we have decided to increase our investment in the Sultanate," he added. "The company has offset obligations to train Omanis in maintenance and repair of the equipments that have been supplied in order to provide indigenous capability," Griffiths told Times of Oman.
On the other hand, the British arms manufacturer has reduced its reliance at home by establishing six home markets. In the entire Middle East, BAE SystemsBAE Systems
has a home market only in Saudi Arabia and currently employs more than 4,900 workforce through increased use of local talents. BAE SystemsBAE Systems Saudi Arabia is one of the largest companies in the industrial sector since 1973 and employs over 2,400 Saudi nationals. Other home markets include Australia, India, Sweden, South Africa and the United States. Home market is a term used for building own manufacturing facility in other country and not merely supplying equipment built elsewhere.
On investing in education sector in Oman, Grittiths said that the company has links with key Saudi universities in terms of structure and technical programmes. "We want to emulate Saudi model in the Sultanate, almost on the similar level. We want to build closer links with colleges and universities," the international group managing director told journalists last week at Farnborough, a sleepy village near London.
BAE SystemsBAE Systems
has been funding programmes in engineering, business, management and medical fields at the Al Faisal University in Saudi Arabia. The UK-based defence company, Grittiths said, seeks to support Omani economy and thereby contribute in jobs creation and wealth generation. "This will bring social and economic benefits to the country," he explained.
By Inacio Oliveira
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