The Ministry of Housing and Urban Planning in Muscat recently signed 31 usufruct contracts in Dhofar Governorate for investment on a total area of 2.3 billion square meters, amounting to over OMR22 million. These contracts involve the establishment of investment projects in various sectors including agriculture, industry, medicine, and commerce. Of the 31 contracts signed, 25 focus on investments in the agricultural and food security sectors, with a total value exceeding OMR19.5 million. These projects include plans to build headquarters for the Oman Agricultural Society in the Wilayat of Thamrait, as well as a logistics center and service facilities.
Additionally, four of the contracts involve investments in industrial, medical, residential, and commercial sectors, amounting to over OMR3 million. The signings of the contracts were overseen by Eng. Hamad Ali Al Nazwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, along with representatives from the companies and establishments undertaking the projects. The ceremony also had attendees from the Oman Investment Authority (OIA), the Ministry of Agriculture, Fisheries, and Water Resources, and the Najd Agricultural Area Development Office.
The Ministry of Housing and Urban Planning is dedicated to activating the usufruct program as a means to bolster the local economy, promote investment, and stimulate economic growth. The initiatives under this program aim to create job opportunities for Omanis and establish projects that contribute to self-sufficiency in key sectors. By signing 31 contracts in the Dhofar Governorate, the Ministry is furthering its commitment to supporting sustainable development and economic diversification in the region.
The investments in agriculture and food security sectors signify a strategic move towards boosting Oman’s self-sufficiency and food security. By supporting projects that focus on these sectors, the Ministry is aiming to reduce reliance on imports and enhance domestic production. This will not only strengthen the country’s food security but also contribute to the growth of the agricultural industry and create opportunities for local farmers and entrepreneurs.
Furthermore, the investments in industrial, medical, residential, and commercial sectors demonstrate the Ministry’s holistic approach to economic development. By diversifying investments across various sectors, the Ministry is laying the foundation for a more resilient and sustainable economy. These projects will not only create new job opportunities but also drive innovation and growth in key industries, ultimately contributing to Oman’s overall economic development.
Overall, the signing of 31 usufruct contracts in Dhofar Governorate marks a significant step towards achieving the Ministry of Housing and Urban Planning’s goals of promoting investment, supporting economic growth, and enhancing self-sufficiency in vital sectors. With a focus on agriculture, industry, medicine, and commerce, these investments are poised to have a far-reaching impact on the region’s economy and contribute to Oman’s long-term development objectives.
