(MENAFN- QNA) The first phase of Innovation Park Muscat (IPM) in Al Khoudh, the Sultanate of Oman will be complete by next year, a top official said here Wednesday.
The Sultanate of Oman Science and Technology Parks Director Dr Abdulbaqi Ali Al Khabouri said, "The Research Council (TRC) is setting up Oman's first multi-sector science park (IPM) to promote research and development in six key areas. The park's development is in phases. We expect the first phase to be ready by 2015."
The Director spoke to Qatar News Agency at the International Association of Science Parks and Areas of Innovation World Conference (IASP) in Doha.
Al Khabouri said, "Knowldege-based economy plays a vital role in developing a country. The Research Council set up in Muscat in 2005 supports this vision."
The TRC under the chairmanship of Sayyid Shihab bin Tariq Al-Said has developed Oman's science, technology and research strategy. It focuses on six main areas of research and development that Oman would need to boost its economy over the next ten to 15 years, he said.
"Energy, which includes renewable energy, environment, water resources, health, food and biotechnology are the main sectors," said Al Khabouri.
The park in Al-Khoudh spreads over 280,000 square metres. It will attract multinational companies with research and development work, Small and Medium Enterprises (SMEs) and start-up companies, he said.
The IPM is next to Sultan Qaboos University, Rusayl Industrial Estate, Knowledge Oasis Muscat and Oman Botanic Gardens.
IPM will encourage exchange of knowledge among academia, universities, R&D institutions and the business community. It will help create innovation-based companies in the country, he said.
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