ADP an organization founded in 2009 chiefly to support private public partnership to promote public infrastructure, improve education, commerce and socio-economic condition of people has now increasingly forayed into Middle East with specific interests in Oman and ready to undertake and finance projects. The economic growth and lowest inflation and local government initiatives to improve the local talents and manufacturing had attracted organizations like ADP to foray and be approached for development projects in the Sultanate of Oman. With successful projects under the belt and ability to deliver projects on time and within budget besides finesse in setting present and the future costs of infrastructure projects over time, they are ideally placed in PPP Projects in the region.
Few Recent initiatives as outlined follows.
Technologies
Muscat: Onsor Technologies Company, a subsidiary of “ITHCA Group”, launched computers equipped with 3D technology. It also signed an agreement with American company zSpace to export those computers to the United States of America.
The agreement was signed by Eng. Mu’adh Ahmed Al Hinai, CEO of Onsor Technologies Company and Paul Kellenberger, CEO of zSpace.
This innovative partnership aims to develop and enhance modern technology in various fields, namely education, training, entertainment and industry. The 3D technology in those Onsor computers give users a unique experience without the need of using 3D glasses.
Source : Arabian Daily By News Desk on March 20, 2023 .
Oman News Agency March 20 2023 edition
Economy
Oman to record the highest economic growth rate among Arab countries in 2024
The Sultanate of Oman will record the highest economic growth rate in the Arab countries in 2024, the International Monetary Fund ( IMF),said.
The International Monetary Fund expected that the Sultanate of Oman would achieve the highest economic growth rate in the Arab countries in 2024.
The IMF stated in the World Economic Outlook report for April 2023, issued on Tuesday that the GDP of the Sultanate of Oman is expected to grow at a rate of 5.2 percent next year to top the expected growth rates in the Arab countries, followed by Egypt at an expected growth rate of 5 percent, then the UAE at a growth rate of 3.9 percent.
It also expected the Sultanate of Oman to record the lowest inflation rate this year among the Arab countries, to reach only 1.9 percent.
The report pointed out that the growth rate in the gross domestic product of the Middle East and North Africa region next year is expected to be about 3.5 percent.
It said that global economic growth is expected to decline from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024.
The report also said:”It is expected that the advanced economies will witness a particularly noticeable slowdown in growth, from 2.7% in 2022 to 1.3% in 2023.”
It stated that the base scenario expects global headline inflation to decline from 8.7 percent in 2022 to 7.0 percent in 2023, on the back of lower commodity prices.
Source: Times of Oman 12/April/2023