Oman's Economic Vision Unveiled: The Path to Sustainable Growth
Key Ideas
  • Renewal of partnership between OBG and MCIIP to produce The Report: Oman 2024 signifies a commitment to providing in-depth analysis of Oman's business environment and key sectors aligned with the national vision.
  • Focus on raising export levels, attracting FDI, and improving ease of doing business, with emphasis on Special Economic Zones and upcoming integrated economic zones, aiming to create a competitive business hub.
  • Efforts to leverage AI and advanced technologies, diversify the oil and gas sector, and explore green hydrogen capabilities indicate a shift towards a knowledge-based economy in line with Oman Vision 2040.
  • Collaboration aims to highlight Oman's economic progress, attract international investments across various sectors, and showcase business potential to the global investment community.
In Muscat, Oxford Business Group (OBG) and Oman's Ministry of Commerce, Industry and Investment Promotion (MCIIP) have reaffirmed their partnership through a memorandum of understanding to collaborate on The Report: Oman 2024. This collaborative effort over three years intends to provide detailed insights into Oman's business landscape, focusing on key sectors aligned with the national vision for a competitive business environment supported by strong regulation and sustainability principles. The ministry's initiatives include enhancing e-commerce, attracting foreign investments, and improving the ease of doing business, with a specific focus on economic zones like Duqm, Salalah, Sohar, Al Mazuna, and the upcoming zone in Dhahriah. This strategic approach aims to create an attractive business ecosystem that fosters both local and international investments, in alignment with Oman Vision 2040. The partnership will also shed light on Oman's advancements in AI, technology, and the exploration of green hydrogen capabilities within the oil and gas sector, indicating a transition towards a knowledge-based economy. The upcoming publication, The Report: Oman 2024, will offer a comprehensive analysis of Oman's economic landscape, emphasizing priority sectors identified in Oman Vision 2040. Through exclusive interviews and extensive research, the report will provide valuable insights for international investors, highlighting the diverse opportunities available in Oman's emerging sectors like manufacturing, tourism, mining, logistics, and ICT. This collaboration aims to attract investments that drive sustainable economic growth across various communities in Oman, showcasing the country's potential to the global investment community.
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