Sunday 07 / September / 2025
Muscat: Oman’s industrial sector registered an unprecedented performance during the second quarter of this year. The combined net profits of industrial companies listed on the Muscat Stock Exchange (MSX) surged by 476 percent to OMR24.47 million compared to only OMR4.25 million in the same period in 2024.
This achievement is a clear indication of the sector's resilience and ability to adapt to economic changes, strengthening its position as a vital pillar of the national economy.
These results were driven by notable gains for a number of major companies. OQ Basic Industries achieved a significant strategic transformation, shifting from losses of OMR3.38 million in the second quarter of 2024 to report profits of OMR9.95 million this year, becoming the largest contributor to the sector's improved results.
Al Jazeera Steel continued its upward trajectory, achieving a 168 percent profit growth to reach OMR2.05 million. Voltamp Energy recorded a jump in its results, with profits rising to OMR2.69 million compared to OMR 1.20 million during the same period last year. Oman Refreshments Company surprised the market by increasing its profits by 822 percent to OMR1.23 million while Oman Flour Mills continued to achieve positive performance, with profits growing by 23 percent.
On the other hand, some companies still face structural challenges. Oman Cement Company's profits declined by 32 percent to OMR1.76 million, while Majan Glass Company deepened its losses to OMR0.39 million. However, companies such as Dhofar Food and Investment Company and Raysut Cement Company showed positive signs after reducing their losses compared to previous periods, reflecting signs of gradual improvement in their operational performance.
Eng. Khalid bin Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, said that the significant leap achieved by the industrial sector during the second quarter of this year reflects the strength and resilience of Omani industries and their ability to keep pace with regional and global challenges. “These results also underscore the importance of continuing investment in manufacturing industries, supporting innovation and technology paths, and encouraging mergers and strategic alliances in sectors facing operational pressures, such as cement and glass, in order to enhance the competitiveness of national industries at the local and regional levels,” he added.
He stressed that the Ministry is continuing its efforts to enhance the environment conducive to industrial investment by providing facilities and incentives and developing the industrial infrastructure, in line with the objectives of the 2040 Industrial Strategy, and enhancing the role of the industrial sector as one of the primary drivers of economic diversification.
Engineer Jassim bin Saif Al Jadidi, Technical Director of the Office of the Undersecretary for Commerce and Industry, explained that the Omani industrial sector is currently witnessing an unprecedented positive transformation, driven by strong performance in vital sectors such as basic industries, consumer goods, and energy. These sectors are not only achieving growth, but are also driving the manufacturing engine and affirming its resilience.
He pointed out that the Ministry is working effectively to overcome the current challenges facing some sectors, such as the construction industry, due to external competition. This is being achieved by developing innovative initiatives and programmes to open new export markets and enhance the competitiveness of these industries at the local and international levels.
The positive results recorded during the second quarter of 2025 confirm the Ministry's tireless and fruitful efforts, enhancing confidence in the sustainable growth of the industrial sector and opening up promising prospects for increasing its contribution to the GDP in the coming years, reflecting an ambitious vision for a prosperous industrial future.
