Oman’s industrial sector records significant growth

Oman’s industrial sector posted strong performance in the second quarter of 2025, with the combined net profits of industrial companies listed on the Muscat Stock Exchange rising to 24.5 million Omani rials, compared with only 4.25 m OMR in the same period of 2024. This represents growth of more than 476%.

The results were driven by remarkable gains at several major firms. OQ for Industrial Investments recorded a major turnaround, moving from losses of 3.4 m OMR in the second quarter of last year to profits of 9.9 m OMR this year, making it the largest contributor to the sector’s improved performance.

Jazeera Steel maintained its upward trajectory, with profits growing by 168% to 2.05 m OMR, while Voltamp Energy saw its earnings climb to 2.7 m OMR from 1.20 m OMR in the same period last year. Oman Refreshments surprised the market with an 822% surge in profits, reaching 1.2 m OMR. Meanwhile, Oman Flour Mills sustained steady positive growth, with a 23% rise in profits.

Some companies continued to face structural challenges however. Oman Cement’s profits fell by 32% to 1.8 m OMR, while Majan Glass deepened its losses to 0.4 m OMR. But companies such as Dhofar Food and Investment and Raysut Cement showed positive signs, reducing their losses compared to previous periods, reflecting early indications of gradual operational recovery.

Eng. Khalid Alqasabi, Director General of Industry at the Ministry of Commerce, Industry and Investment Promotion, said the sharp leap recorded by the industrial sector in the second quarter of this year reflects the strength of Omani industries and their ability to meet regional and global challenges. He added that the results underline the importance of continued investment in manufacturing, support for innovation and technology, and encouragement of mergers and strategic alliances in pressured industries such as cement and glass, in order to enhance the competitiveness of national industries both locally and regionally.

Eng. Jassim Aljunaidi, Technical Director at the Office of the Undersecretary for Commerce and Industry, said that Oman’s industrial sector is currently witnessing an unprecedented positive transformation, driven by strong performance in key areas such as basic industries, consumer goods, and energy.

The positive results recorded in the second quarter of 2025 highlight the Ministry’s dedicated efforts. They reinforce confidence in the sustainability of industrial sector growth and open promising prospects for increasing its contribution to GDP in the coming years, reflecting an ambitious vision for a thriving industrial future.