Oman plans to invest 2.5 billion rials ($6.5 billion) in its transport and logistics sector until 2025, according to the sultanate’s Ministry of Transport, Communications and Information Technology.
The announcement was made during a series of workshops organised by the ministry in a bid to generate new investment opportunities in the country, along with enabling improvements to its logistics sector, reported the Oman News Agency.
Khamis Mohammed Al Shammakhi, the Undersecretary of the Ministry of Transport, Communications and Information Technology, broke down the total figure, with OMR 1.4 billion stated as the value of envisaged projects, with the rest earmarked for future investment opportunities, the report added.
He added that the goal is to increase government revenue in the sector by achieving OMR 18 million in returns from land transport by 2025, and boosting employment opportunities in related sectors from 19% in 2023 to 21% in two years.
(Writing by Bindu Rai, editing by Brinda Darasha)