Economy

Creating Wealth through Economic Diversification and Private Sector Partnership

This pillar aims to continue the policy of building a diversified, dynamic, globally interactive and competitive economy that meets the present and future needs of the citizens, in which the private sector has a prominent role. This pillar focuses prominently on achieving economic diversification in a way that ensures the continual of the economic growth in the next phase, with the decrease in the demand of oil as the top energy source in the future.

Ensuring Balanced Governorates Development

The aim of this pillar is to develop an integrated vision to achieve balanced and sustainable development of the governorates, dilute the economic and social differences between the different governorates and optimize the utilization of natural resources. It also aims to dissolve the economic and social differences between the governorates and invest in each governorate’s natural resources to achieve balanced regional development that will lead to sustainable and comprehensive development.

Preserving Environment Sustainability

The objective of this pillar is to ensure that natural resources are protected and used in a safe and sound manner, and to generate economic opportunities utilizing the environment. It also aims at protecting human beings and effectively managing the environment to help society flourish.

Building World-class Infrastructure and Livable Cities

The objective of this pillar is to continue to invest in infrastructure including, inter alia, the rail network, information technology and communication networks, enabling the Sultanate to maintain its competitiveness as a logistics hub and a centre for communication between neighbouring countries. A world-class infrastructure is an essential factor to achieve economic growth, as it is a great motivation and attraction for international and local investments.

Oman Vision 2040, Economy and Development