‏OQ Base Industries organizes the ICV and Responsible Procurement Forum

‏. USD 34.91 million (RO 13.44 million) for Small and Medium Enterprises (SMEs)

‏. USD 24.05 million (RO 9.26 million) for Riyada Card holders

‏. USD 6.78 million (RO 2.61 million) for “Made in Oman” products

OQ Base Industries organized the second edition of the In-Country Value (ICV) Forum under the theme “In-Country Value and Responsible Procurement”, held under the patronage of H.E. Dr. Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry. The forum forms part of the company’s efforts to promote its ICV programs, strengthen engagement with local suppliers, and enhance the role of small and medium enterprises (SMEs) in supply chains.

The forum aims to reinforce the concept of ICV and promote the implementation of responsible procurement as a key driver in supporting the national economy and enabling entrepreneurs and SMEs to grow and compete.

It highlights the company’s key achievements from 2023–2025, during which its ICV Index increased from 27.12% to 31%, reflecting the expansion in reliance on local suppliers and the strengthened contribution of local industries to supply chains, in alignment with Oman Vision 2040.

The forum also showcases the company’s efforts in supporting national products, with total spending on “Made in Oman” products reaching USD 6.78 million (RO 2.61 million). In addition, USD 34.91 million (RO 13.44 million) was directed to SMEs, and USD 24.05 million (RO 9.26 million) was allocated to support entrepreneurs holding the “Riyada” Card. This support contributed to the development of their operations and enhanced their readiness to compete. Furthermore, USD 13.04 million (RO 5.02 million) was allocated to support the employment of Omanis through contracting companies.

In terms of direct awards, the total value of contracts awarded to local companies reached RO 26.91 million (USD 69.96 million), including 46 contracts awarded to SMEs and Riyada Card Holders. This underscores their growing participation in the base industries sector and supports their ability to deliver quality services.

The organization of this forum reflects the company’s ongoing efforts to build strategic partnerships with national institutions through specialized forums, workshops, and field visits aimed at simplifying registration procedures, encouraging suppliers to join the “Tawreed” platform, and motivating them to participate in future tenders. These efforts are expected to create broader growth opportunities for suppliers and strengthen the principles of responsible procurement, as well as economic and social sustainability in the Sultanate.