MUSCAT: The General-Secretariat of the Tender Board on Sunday signed several agreements and memorandums of understanding and cooperation with government entities and private companies to adopt the outcomes of last year’s landmark National Local Content Lab. The lab has resulted in 58 investment opportunities spanning five key sectors, including the military and security sector, healthcare, energy and minerals, construction and building and electricity and water services.

At the conclusion of its activities on Sunday, the National Local Content Lab identified 100 developmental opportunities, including 58 investment opportunities aimed at strengthening local content. These opportunities are expected to create numerous jobs across multiple sectors, with retained economic value.

The National Local Content Lab concluded after two weeks of intensive workshops involving over 50 government and private entities. The closing event was held under the auspices of Dr Said bin Mohammed al Saqri, Minister of Economy, and attended by Eng Badr bin Salim al Maamari, Secretary-General of the Tender Board, along with a number of ministers, dignitaries, and CEOs of various companies.

The agreements and memorandums of understanding were signed on behalf of the General-Secretariat of the Tender Board by Eng Badr bin Salim al Maamari, while representatives of the government and private sector entities, including undersecretaries, directors-general, and CEOs, signed on behalf of their respective organisations.

Speaking at the event, Salim al Rajhi, Representative of Participating Sectors at the National Local Content Lab, stated, “As we conclude this lab, we celebrate a pioneering seven-month national effort to maximise retained economic value through local content. This initiative reflects the Royal directives of His Majesty Sultan Haitham bin Tarik emphasising the importance of implementing and monitoring local content policies for a sustainable, resource-based economy. The National Local Content Policy provides a strategic framework to boost reliance on domestic products, foster industrial growth, and drive innovation. The National Local Content Office ensures alignment across sectors, while this lab, uniting over 50 entities, has transformed these directives into actionable projects with tangible economic impact. This lab has demonstrated the power of collaboration and integration, highlighting the potential to unify demand across sectors and strengthen local industries. As we conclude, we reaffirm the need for collective commitment to sustain this progress.”

In a visual presentation at the event, Ghalib bin Amer al Hinai, Head of the National Office for Local Content, stated, “We are entering a new phase—one where ideas become reality, opportunities turn into projects, and visions translate into tangible achievements that strengthen our national economy. A year ago, we received the Royal blessing of His Majesty Sultan Haitham bin Tarik for the National Local Content Policy, setting the stage for economic empowerment. Since then, we have worked closely with various sectors to address strategic challenges and ensure local content becomes a key driver of economic growth.

Today, we present a clear road map with 58 approved investment opportunities across five key sectors, expected to increase retained value, create jobs, and support economic diversification. Additionally, we are launching six national initiatives, including the Local Content Certification and advance purchase agreements to strengthen local industries. Every increase in local content boosts GDP, enhances industrial competitiveness, and secures a more sustainable future. Our success will not be measured by plans but by execution, and the journey ahead requires collective commitment and strategic collaboration to build a stronger, more self-sufficient economy.”

The lab aims to enhance the participation of national institutions and empower them to become an integral part of sustainable economic development. This is achieved through policies that encourage companies to rely on local resources, collaboration with educational institutions to develop skills, enabling local businesses to expand, and cooperating with international partners to promote Omani products globally.

© All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).