- High level government officials, industry leaders and experts discuss opportunities in boosting economic growth and competitiveness
- Focus on economic diversification and job creation through private sector collaboration
- GE has nearly four decades of strong presence in the Sultanate in energy, aviation, power, water and healthcare sectors
Muscat, Sultanate of Oman; May 26, 2013: As Oman enters a new era of growth in line with the Government's concerted focus on promoting all-round development through its Vision 2020, GE (NYSE: GE) highlighted the importance of stronger public private partnerships in accelerating economic diversification and job creation at a key industry event held in Muscat, today.
At the high profile event attended by key government officials, industry leaders and experts presented compelling viewpoints on the power of partnerships to boost Oman's economic growth and business competitiveness.
GE also presented its diverse array of advanced technologies in the energy, power, water, aviation and healthcare sectors, underlining its nearly 40-year heritage in the Sultanate at the event. The company's senior professionals discussed new technical solutions that can boost operational efficiencies, promote sustainable growth and build human capital.
Nabil Habayeb, GE's President & Chief Executive Officer for the Middle East, North Africa and Turkey, said: "We are thankful to the Omani Government for their support to our industry initiative to promote active engagement among various stakeholders, including the public sector entities. We live in an era where co-creation and sharing knowledge are extremely important to driving all-round development goals.
"Oman has clearly identified its strategic growth priorities, envisaged in its Vision 2020 to achieve sustainable growth, human resources development, economic diversification and private sector development. This comprehensive approach to development is also an opportunity for the public and private sector to join hands to achieve the government's goals."
He added: "For nearly 40 years, GE has served as a strong partner to Oman's key industries. Our focus has been to bring in advanced technologies, strengthen local partnerships and enable human capital development through knowledge transfer and skillset development. Public private partnerships can accelerate the development momentum by sharing competencies with the social and economic welfare of the country as a top priority. We will continue to invest in Oman and build our partnerships, and emphasise on job creation for Omanis, and local capability and talent building."
A panel discussion was held as part of the event, attended by: Mulham Al-Jarf, Deputy CEO, Oman Oil Company; Dr. Hatem Al Shanfari, Member of Board of Governors of Central Bank Oman and Sultan Qaboos University; and Nabil Habayeb.
Oman is one of GE's fast-growing markets, supporting the Sultanate's energy needs by delivering advanced technology solutions. With an office in Muscat and an Electric Submersible Pumps (ESP) Field Service & Repair Center in Nimr, GE today has over 80 employees in the country. GE has more than 80 installed turbines supporting the generation of over 8GW of power, nearly half the country's total production.
With demand for electricity and water projected to growth at about 9.5 percent and 5 percent, respectively, through 2019, the country is investing in independent water and power projects, with the participation of the private sector. Oman is also focusing on generating at least 10 percent of its energy from sustainable sources by 2020, another area where GE has proved its competencies, especially in solar projects and smart grid solutions.
GE's footprint is vast and varied in the Sultanate with the company having delivering advanced power generation technology to the Sohar project. The company also delivers advanced 6FA engines gas turbines and long-term services for Salalah Independent Water & Power Project with capacity of 445 MW of electricity and 15 million imperial gallons of desalinated water per day.
With over 285 equipment deployed in the oil & gas sector, GE supports Petroleum Development Oman (PDO) and Oxy's focus on enhanced oil recovery, in line with goals of Oman's 8th Development Plan. The company has also strengthened its footprint in the healthcare sector of Oman.
GE has 40 percent share in the radiology market share through three independent operators, underscoring its emphasis on an earlier model of healthcare delivery. This year, GE announced a landmark partnership with Apex Medical Group, a subsidiary of Al Joaib Group, the development company and promoter of the US$ 1 billion International Medical City, to jointly explore development opportunities in healthcare, energy, water and home & business solutions within the landmark project.
Nearly 70 percent of total fleet of Oman Air is powered by engines provided by GE or its partner companies, with over 3.3 million passengers transported on aircraft powered by GE and its partners in 2012. GE has also rolled out dedicated training programs for Omani professionals at the Florence Oil & Gas University.
Habayeb added: "We are committed to strengthening our footprint in Oman, and in our growth journey, our primary focus will be to build partnerships and build local talent."
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