Analysts at Ken
Research in
their latest publication “Oman Freight Forwarding Market Outlook to 2022 – By Freight Movement (Sea, Road, Air and Rail Freight); By Normal and
Express Delivery; By International and Domestic Freight; By International Flow
Corridors (Asian Countries, NAFTA Countries, European Countries and
Others)” believe that increasing the number of
channel points, strengthening infrastructure connections, improving service
quality in terms of training the personnel and promoting railways for freight
transportation will have a positive impact on market.
·
The Sultanate has been aiming to grow the
contribution of logistics sector to the GDP from current RO 1.1 billion to RO
3.3 Billion
·
Sea is by far the most popular medium for
moving freight within the country however, with increasing trade among GCC
countries and integration of regional economies, road freight will capture
significant share in the future.
The Oman government
aims to position the Sultanate as a vital logistics center by 2040 under SOLS
2040 for its strategic logistics positions such as Duqm, Sohar, Salalah, and
Muscat, high quality infrastructure, competitiveness and qualified human
resources in this sector. The large-scale logistics development project in the
country launched by the government will harmonize free zone ports, railways,
maritime transport and road transport infrastructure as part of the development
of a logistics-based economy that will play a major role in creating
significant growth opportunities to increase the sector's contribution in GDP.
Sea freight has the
major share of Omani freight market, however, with the rising level of trade
among the GCC nations, major emphasis has been placed on developing rail and
road network that will increase the efficiency of logistics and reduce the
cost. Efforts are on going to connect the three major economic gateways at
Sohar, Duqm and Salalah with GCC rail network. Oman Rail is studying plans for
a 375km train line to transport minerals between the Shweimiyah area in Dhofar
Governorate and Port Duqm. The country exports significant amount of Mineral fuels
and derivatives, Vehicles Parts and Accessories, Organic chemicals, Aluminum
and articles, Fertilizers, Iron and steel to other countries and imports
machinery and mechanical appliances, vehicles- parts and accessories, mineral
fuels and derivatives, electrical machinery and equipment and parts, articles
of iron or steel, natural or cultured stones and metals etc. from other
countries, thus creating a positive impact on Oman freight forwarding market.
Oman freight
forwarding market is expected to register a positive CAGR of 3.6% during the forecast
period 2018-2022. The recent improvement in the ease of doing business ranking
of Oman will facilitate more FDI into the country and companies will be looking
to gain advantage of its rapidly developing logistics infrastructure to gain
market share in GCC region.
For more information on the research report,
refer to below link:
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Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
