Tenders may increase in coming years

The plan aims at reducing the contribution of oil in the GDP at current prices to 26 per cent. It was 44 per cent during the 8th plan.

According to MEED Opportunities Oman 2017 report, spending levels should remain relatively high in the coming years.

“With only five years left to deliver its Vision 2020 strategy, the coming years are expected to be a busy period for Oman. The plan will see a focus on the development of non-oil sectors such as manufacturing, transportation and logistics, tourism, fisheries and mining as the government continues with its diversification agenda,” points out the report.

It is also expected to see the private sector play a much bigger role in infrastructure delivery, with a series of public-private partnership planned in the healthcare, logistics and tourism sectors, the report says.

Of the total investments unveiled at Tanfeedh, the contribution from the private sector stands at RO 14 billion, while the public sector is expected to provide between RO 1.5 billion and RO 2.5 billion in contributions.

Tourism sector aims to increase its contribution to the GDP and make it one of the main sources of national income.

The Tourism Strategy 2016 -2040, which serves as a roadmap for this promising sector, aims at enhancing the Sultanate’s position as a tourism hub and attracting investments to the sector.

In the field of manufacturing industries, Oman focuses mainly on petrochemicals to benefit from the competitive edge of the local economy.

All-out efforts are being made to develop the logistics sector in a sustainable way to meet the needs of the economic and construction activity in the Sultanate and to keep pace with the world developments in this field.