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Oman Business News

DAI to develop multisector ICV strategy for Oman

Brussels-based global development company Development Alternatives Inc (DAI) has announced that it has been awarded a contract by Petroleum Development Oman (PDO) to conduct the first phase of a study that will establish a comprehensive “In-Country Value” (ICV) strategy for Oman, encompassing sectors beyond the traditional ICV arena of oil and gas.

“We are delighted to collaborate with DAI on this important work,” said Abdul Amir al Ajmi, PDO’s Director for External Affairs and Value Creation. “The Sultanate of Oman is recognized as a leader in the field of in-country value, and we are determined to apply what we have learned in the energy sector to the Omani economy more broadly.”

Under the reign of His Majesty the Sultan, Oman has made a concerted effort to support economic development that explicitly promotes ICV, which it defines as expenditures retained in-country to benefit business development, develop human capability, and stimulate economic productivity. In 2013, the Sultanate launched a major initiative specific to the oil and gas industry, designed to generate billions of dollars for the economy and 50,000 Omani jobs in the sector by 2020.

“This study represents the next stage in the evolution of the country’s ICV journey and Oman continues to push the boundaries in ICV delivery,” said Chris MacDonald, DAI’s Managing Director in Oman. “Oman is known the world over as a pioneer in ICV, and we are proud to support PDO and the Ministry of Commerce and Industry to develop a multisectoral view of the ICV opportunities landscape in Oman. This is the first time that any country, anywhere has taken such a holistic approach and this opens a new chapter on ICV in Oman and beyond. We’re grateful to have been selected as partners in this far-reaching, forward-thinking initiative.”

In the first phase of the study, DAI will assess ICV opportunities in the healthcare and utilities sectors, developing a sector-specific ICV strategy for each. The analysis will be led by DAI’s Sustainable Business Group, one of the world’s pre-eminent exponents of ICV and “local content” programming, primarily but not exclusively in the oil, gas, and renewables industries.

DAI was founded in 1970 by three graduates of Harvard University’s Kennedy School of Government intent on providing a more dynamic and effective brand of development assistance. is a global development company with a record of delivering results in 160 countries. Employee-owned DAI is today a global development company with a mission to make a lasting difference in the world by helping people improve their lives.
  • Development Alternatives Inc
  • Petroleum Development Oman
  • In Country Value
  • Energy
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