Madayn merges key units into industrial innovation academy
INDUSTRIAL NEWS
Oman's Public Establishment for Industrial Estates (Madayn) said its board of directors has decided to merge its key units - Industrial Innovation Centre, National Business Centre and Madayn Industrial Academy - under one entity, Madayn Industrial Innovation Academy.
The announcement came at its recent board meeting chaired by Dr Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry.
The move is aimed at streamlining Madayn’s organisational structure, exploring and studying value-added investment opportunities in various sectors and rationalising operating expenses besides enhancing the performance of factories based in Madayn’s industrial cities.
It will also help optimise the efficiency of national capabilities through training efforts, and provide consultancy services to Madayn and its companies.
According to Madayn, the new entity focuses on three paths, namely local content and opportunity development; industrial incubators and innovation; and training and rehabilitation.
The local content and opportunity development path concentrates on studying existing supply chain management in various economic sectors, developing associated investment opportunities, and providing enablers that contribute to better achieve the expected outcome such as offtake agreements and any other enablers required by the projects, said statement from the company.
The industrial enterprises resulting from the first path will qualify to the second path and be localised/incubated, and the existing industries will be improved and developed by focusing on the innovation aspect.
Being the key incubator for the Omani industries, Madayn plays a significant role in providing the necessary support to the industries to contribute to their advancement.
The third path, which focuses on training, rehabilitation and consultancy studies, shall provide training opportunities to the national cadres to benefit from the investment opportunities resulting from the local content, said the statement.
This path also takes into account the significance of providing consultancy services to Madayn and its companies to achieve strategic partnership between the Academy and Oman Vision 2040 Implementation Follow-up Unit.
The decision of merging Madayn’s three centres came after a thorough study to keep pace with the current and future prospects, unify efforts and improve performance, reduce costs, and achieve sustainable and added value to the factories in Madayn’s industrial cities, it stated.
The Academy aims at serving the industrial sector, providing advanced innovation solutions to meet the needs of the local market, enhancing the local content, reducing imports, and boosting Omani exports to foreign markets, it added.-TradeArabia News Service
