Omani manufacturers should take a cue from Octal: CEO

Muscat: Emphasising Octal’s pride in helping place Oman on the world map as a manufacturing and distribution hub, Nicholas Barakat, a top official of Octal, explained that the performance of local manufacturers so far, while impressive, represents just the beginning of what can be achieved
“Bringing this important sector to its full capabilities will take time, but today it is easier than ever to develop and grow given the Sultanate’s on-going transformation of infrastructure, available free zones, and, above all, its safety and stability. The foundations are already here and the opportunities are there for the taking,” said Nicholas Barakat, chief executive officer of Salalah-based Octal, the world-leading producer of PET sheet and resin.
Get your essential daily briefing of our top business stories
Discussing the future of manufacturing in the Sultanate at Ithraa’s ‘Inside Stories’ series, Barakat shared insights into the company’s success, and highlighted the extraordinary potential of the sector as Oman broadens its economic base beyond hydrocarbons.
Explaining that to be successful, aspiring Omani manufacturers should follow Octal’s lead and build their businesses on technology and innovation, the Octal CEO added: “In the ten years since it was first set up, Octal has constantly sought out new ideas, new concepts, new ways of doing things.”
“Thanks to this innovation driven approach, and a solid and well thought out cost structure, we are now one of the Sultanate’s principal exporters, have a four-plant operation in Oman, Saudi Arabia and the United States, a workforce of more than 600, and clients that include global brands such as Proctor & Gamble, Coca-Cola, and Nestlé,” the CEO said.
According to Barakat, as Omani manufacturing grows, it will generate employment opportunities beyond the factories and industrial estates on which it is based with small and medium enterprises (SMEs) setting up to cater to the new industries. “Indeed, supporting industries including spare parts businesses, maintenance and freight companies have huge potential whether in Salalah or Oman as a whole,” he added.
Ithraa’s acting director general of marketing and media, Taleb Al Makhmari, thanked the Octal CEO for his participation at ‘Inside Stories’ and congratulated the company on its ten-year anniversary.
“One of the Sultanate’s key non-oil exporters, Octal is a tremendous example of our country’s manufacturing potential. We wish them continued success and growth as they export cutting-edge packing solutions from Oman to the world,” the Ithraa official said.