Oman aims to become one of the world's leading centres for transshipment, with the Sultanate's strategic location and heavy investment in developing integrated logistics hubs, aiming to achieve that by the year 2040.

The Oman Global Logistics (OGL) Group has allocated massive resources towards the development of ports, free trade zones and marine services, in cooperation with leading port operators, according to a press statement released by OGL on Sunday, ahead of an even to re-brand the company. 

The company plans to develop spaces for logistical warehouses, in addition to earmarking areas for the setting up of light industries.

“The (Omani) ports will serve as a competitive edge for trade routes for Asia, Indian subcontinent, Europe and Mena markets. It will provide connectivity network that meets the growing demand from more than 3,000 requests to transport to more than 52 port destinations. This will help Oman save time and effort for transit goods,” said the release.

“The Sultanate's location on the main shipping route between the East and West will facilitate access to these markets through a single safe and effective route. The free and economic zones nearby provide a platform through which the company can nurture their businesses and benefit from the trade exchange, tax exemption agreements as well as the free trade agreement between the Sultanate and USA.”

The Sultanate enjoys several competitive advantages, including its strategic location, for distributing goods to Indian Subcontinent and North African countries. The Oman government has made huge investments in the construction of modern roads, ports, airports, free zones and industrial estates to maximise the benefit of such unique location.

Incentives were also provided to enhance the logistic services as well as to raise the Sultanate's ability to attract foreign investment.

The National Logistic Strategy 2040 also aims at raising the contribution of logistics services to the nation's Gross Domestic Product, which is expected to reach OMR14 billion in 2040, in addition to creating 300,000 jobs in the aforementioned sector.

The company seeks to make the Sultanate a logistic hub by developing the domestic market, facilitating businesses, adopting modern technologies and developing human capital. To achieve these aims, the group will revise all logistic processes activities, modernise export and import procedures and enhance the use of the best international practices.

Another major initiative is the development of shipping services through Oman Shipping Company, Oman Rail and Oman Drydock Company - one of the biggest and most advanced ship repair facilities in the Middle East.

The company also focuses on strengthening public services through Oman Post, the National Ferries Company, and Oman's National Transport Company, besides supervising marine training provided by Oman Maritime International College.

The re-branding of OLG provides plenty of insight into Oman's contribution to marine sciences and its distinguished business and trade relations with the old cultures in Iraq, Iran, India, China and Africa, which date back to 4000 BC, when Oman was widely hailed as the gateway to Arabia.
Source: Timesofoman