AIRLINK 206.30 Increased By ▲ 1.85 (0.9%)
BOP 10.20 Increased By ▲ 0.11 (1.09%)
CNERGY 6.96 Increased By ▲ 0.05 (0.72%)
FCCL 35.51 Increased By ▲ 0.68 (1.95%)
FFL 17.17 Decreased By ▼ -0.04 (-0.23%)
FLYNG 24.85 Increased By ▲ 0.33 (1.35%)
HUBC 142.44 Increased By ▲ 5.04 (3.67%)
HUMNL 13.99 Increased By ▲ 0.17 (1.23%)
KEL 4.93 Increased By ▲ 0.02 (0.41%)
KOSM 6.70 No Change ▼ 0.00 (0%)
MLCF 44.85 Increased By ▲ 0.54 (1.22%)
OGDC 225.00 Increased By ▲ 3.09 (1.39%)
PACE 7.13 Increased By ▲ 0.04 (0.56%)
PAEL 43.80 Increased By ▲ 0.83 (1.93%)
PIAHCLA 17.19 Increased By ▲ 0.11 (0.64%)
PIBTL 8.67 Increased By ▲ 0.08 (0.93%)
POWER 9.01 Decreased By ▼ -0.01 (-0.11%)
PPL 192.50 Increased By ▲ 1.90 (1%)
PRL 43.20 Increased By ▲ 0.16 (0.37%)
PTC 25.69 Increased By ▲ 0.65 (2.6%)
SEARL 110.21 Increased By ▲ 3.80 (3.57%)
SILK 1.03 Increased By ▲ 0.01 (0.98%)
SSGC 43.65 Increased By ▲ 0.74 (1.72%)
SYM 18.49 Increased By ▲ 0.18 (0.98%)
TELE 9.26 Increased By ▲ 0.12 (1.31%)
TPLP 13.70 Increased By ▲ 0.59 (4.5%)
TRG 68.20 Increased By ▲ 0.07 (0.1%)
WAVESAPP 10.38 Increased By ▲ 0.14 (1.37%)
WTL 1.91 Increased By ▲ 0.04 (2.14%)
YOUW 4.10 Increased By ▲ 0.01 (0.24%)
BR100 12,280 Increased By 142.7 (1.18%)
BR30 37,877 Increased By 730.9 (1.97%)
KSE100 116,146 Increased By 873.7 (0.76%)
KSE30 36,598 Increased By 286.2 (0.79%)

Oman's spending on new projects, spurred by the recovery of oil prices, will raise the demand for foreign labour in 2010, the sultanate's national economy minister said on Sunday. The Gulf Arab country expects to create 4,000 jobs in 2010 for nationals through the 937 million ($2.4 billion) allocated for new projects, but Ahmad Mekki said the projects will also drive demand for foreign workers.
"We will need more expatriates to keep up with the pace of the development from new projects next year," Mekki told reporters, without giving figures for foreign workers. "There are not enough nationals to fulfil all the jobs in demand."
According to the latest national economy statistics, there are 852,000 foreign workers in Oman, five times the number of nationals working in the private sector. Foreign workers make up nearly 30 percent of Oman's population of 2.9 million people.
"We don't have enough experts in civil engineering to cater for the rising demands," Rashid Alawi, managing partner at Muscat Investments Co told Reuters. "Young Omanis also are not willing to work as labourers because they see it as demeaning." Oman has allocated an expenditure of 7.18 billion Omani rials in 2010, up from 6.42 billion a year earlier. Plans include building four new airports, three ports, power plants and petrochemical projects.
Oman fetched 12.5 percent more from oil income in 2009, basing its budget on an oil price of $45 per barrel, but selling its oil at an average price of $56.7 per barrel.

Copyright Reuters, 2010

Comments

Comments are closed.