ASAAS to hold workshop on economic development

MUSCAT: Muscat National Development and Investment Company (ASAAS) is organising its annual knowledge sharing workshop on ‘Economic Development and Diversification: Why & How?’ today (December 27) from 9 am to 4:30 pm.

The one-day workshop is part of ASAAS’s corporate social responsibility (CSR) programme ‘Intelligence Talks’ and will be hosted at the new Crowne Plaza at Oman Convention and Exhibition Centre.

The event is expected to attract more than 200 key decision-makers and policy-makers from both government and private sectors from across the country. As ASAAS acts as a catalyst for the economic diversification, this workshop aims to reinforce our vision and raise awareness on this important topic.

“For the continued progress of Oman’s economic development and growth, it is important in current economic climate that all stakeholders in the country are aligned and collaborate with each other in a meaningful manner so economies of scale and scope are achieved. ASAAS truly believes in collaboration with both private and public institutions to assist the government in successful diversification of the economy” commented CEO of ASAAS, Eng Khalid al Yahmadi.

The workshop will be delivered by Dr Raed Safadi, a renowned economic expert and currently the Chief Economic Adviser to Dubai Department of Economic Development. Prior to his current position, Dr Safadi was the Deputy Director and the Chief Trade Economist for the Organisation for Economic Cooperation and Development (OECD), where he was responsible for developing policies and strategies in agriculture, trade and development.

Dr Safadi was also the Chief Economist for the Government of Dubai where he was entrusted to define the economic pillars in Dubai’s Strategic Plan 2015 and to shield its economy from the global economic crisis. He also built and implemented the first ever macro-economic model for Dubai.

Previously, Dr Safadi spent 5 years with the World Bank as a Senior Economist. “ASAAS is pleased to have a renowned and experienced personnel deliver this workshop for us and we are thankful to Dr Safadi for accepting our invitation” commented the COO of ASAAS, Mohammed al Ghufaili.

The day-long workshop will be divided into three sessions. Session 1 will set the scene by exploring the fundamental principles of economics, and the driving forces behind development and diversification with a particular focus on natural, resourcebased economies. Session 2 will discuss policy options and approaches to growth and diversification drawing on practical case studies of different countries that have successfully managed their transition away from natural resources and towards a diversified economic base. The third and last session will take a deep dive into Oman’s Ninth Five-Year Development Plan (2016-2020), and the policy levers that will support the realisation of its vision.