Oman's Vision 2040: A Beacon of Stability and Opportunity in a Turbulent World
Key Ideas
- Oman aims to become one of the world's leading green hydrogen producers by 2030, showcasing a commitment to sustainability and innovation.
- The country boasts positive economic indicators, including a projected GDP growth rate of 3.4% for 2025 and a consistent rise in foreign direct investment.
- Oman's governance, policies, and legal system support the private sector and safeguard investments, leading to an upgraded sovereign credit rating and increased international confidence.
- Oman's open trade policies, including the Free Trade Agreement with the United States, offer investors access to a large market through a secure and strategically located base.
During the Advantage Oman Forum 2025 in Muscat, H E Qais bin Mohammed Al Yousef, Oman's Minister of Commerce, Industry, and Investment Promotion, highlighted Oman's position as a beacon of stability and opportunity in a world marked by uncertainty and conflict. Al Yousef emphasized Oman's consistency, openness, and reliability, underlining the country's status as a trusted and stable partner amidst global turbulence. The minister discussed Oman's ambitious plans for economic transformation driven by Vision 2040 and referred to it as Renaissance 2.0, focusing on building a diversified and future-ready economy. One of the key highlights was Oman's commitment to becoming a leading green hydrogen producer, targeting the sixth position globally by 2030, showcasing a forward-looking approach towards sustainability and innovation. Al Yousef also pointed out positive economic indicators, such as a projected GDP growth rate of 3.4% for 2025, higher than the global average, and a consistent increase in foreign direct investment over the past five years. Oman's governance, transparent policies, and supportive legal system have contributed to an upgraded sovereign credit rating and increased international confidence in the country's economic fundamentals. Al Yousef emphasized Oman's open trade policies and its Free Trade Agreement with the United States, offering investors access to a vast market from a secure and strategically advantageous position. He highlighted Oman's young, ambitious, and globally minded workforce as a key asset for investors looking at long-term opportunities, emphasizing the critical role of people in driving Oman's success and growth.