Clear steps, clear vision
Oman 2040 was developed in line with the Royal Directives of late His Majesty Sultan Qaboos bin Said, as a guide and a key reference for planning activities over the next two decades.
His Majesty Sultan Haitham bin Tarik has repeatedly underlined that Oman future developmental goals will be achieved in line with the guidelines of Oman Vision 2040.
“Oman Vision 2040 will be the Sultanate’s gateway to overcoming challenges by keeping pace with regional and global changes, generating opportunities to foster economic competitiveness and social well-being, stimulating growth and building confidence in all economic, social and developmental relations,” the vision document says. The Tenth Five-year Plan launched with this year’s budget is the first executive plan for Oman Vision 2040. It was set following the Vision’s targets towards a comprehensive economic and social development.
It targets Oman joining the group of the world’s developed countries (in top 20 from top 40 in Vision 2030) by seeking to foster economic competitiveness.
Vision 2040 is developed over several stages. The relevant committees started by identifying the vision themes, and pillars, followed by a status analysis and identification of national priorities. To achieve role integration, the Future Foresight Forum was organised, followed by several workshops to create scenarios and set the vision strategic directions, goals, KPIS, and targets.
The Vision states that a favourable environment will be developed to attract talents in the labour market; partnerships grow in a competitive business climate, comprehensive regional development is achieved through decentralisation, guided by the principle of optimal and balanced use of land and natural resources and the protection of the environment to bring about food, water and energy security.
NATIONAL CAPABILITIES
Vision 2040 necessitates the establishment of a stimulating educational and vocational training system to afford individuals high-level skills to enter the labour market, raise their productivity and improve the efficiency of the economy in general. Values of competition and qualification should prompt individuals to seek high-ranking jobs based entirely on merit. Another aspect of joining forces also entails maximising national capabilities through a national system established to nurture talent, creativity, and entrepreneurial potential.
It calls curricula that incorporate Islamic principles and Omani identity; are inspired by Oman’s history and heritage; are consistent with the contemporary requirements of sustainable development and future skills, and support the diversification of learning pathways.
INTERNATIONAL HEALTHCARE SYSTEM
An inclusive and equitable healthcare system should cover all of Oman governorates, with the participation of government, the private sector, and civil society. This coverage should include more medical specialities and specialised medical institutes and universities to develop medical staff of various specialisations. The desired healthcare system should follow international best practices in accreditation, be it in medical services, healthcare centres, medical laboratories or medical personnel.
Citizenship, Identity and National Heritage and Culture
The educational curricula should focus on developing national capabilities to stress the importance of the Omani identity and shape the Omani personality in a way to perpetuate the national identity.
YOUTH DEVELOPMENT
Looking after the youth is a guarantee for the future as it encourages their political, social and political participation in building the future; while empowering the persons with disabilities; maximising their capabilities and skills and providing them with adequate social protection. Moreover, focusing on sports activities has direct benefits and developmental gains across the different sectors and various age categories, and enhances Oman’s presence on the global sports map. Economic Leadership and Management The role that a stable economic leadership and management will play is to set and align the fiscal, monetary, trade, investment, industrial and labour market policies in such a manner to contribute to the development and implementation of economic plans, programmes and projects in line with the strategic directions
NEW ECONOMY
The new economy will capture global trends in technology, innovation and industrial revolutions to keep up with and incorporate such trends in the national plans and programmes in a safe knowledge and technology-based environment that ensures transformation to technology, knowledge and innovation-based economy. The desired economy should be able to achieve inclusive and sustainable development, create an attractive business environment for all and increase exports in sectors with high technical and valueadded components.
LABOUR REFORMS
Labour market legislation and flexible policies will reinforce the role of the private sector to generate employment opportunities for qualified Omani youth with the participation of civil society organisations. They will also enable better adaptation of the Omani labour market to the global updates in the future of jobs. They can also help absorb the new workforce into the labour market in a manner that keeps pace with future challenges.
PRIVATE SECTOR
The business environment will be developed, the private sector will play a leading role and will be empowered to achieve balanced economic development to create a competitive and empowering environment for the private sector to develop free, socially responsible and ecofriendly sectors. The financial deepening will be sought in the capital market and sustainable funding will be provided through innovative models to start productive enterprises, especially SMES. A competitive economy led by the private sector will make use of several advantages that the Sultanate enjoys, particularly the political and economic stability and the long-term investment of strategic relations. The strategic geographic location of the Sultanate is an excellent opportunity to develop and expand trade partnerships with other countries worldwide.
Oman Vision 2040 will be the Sultanate’s gateway to overcoming challenges by keeping pace with regional and global changes, generating opportunities to foster economic competitiveness and social well-being, stimulating growth and building confidence in all economic, social and developmental relations
SMART CITIES
The Sultanate will systematically establish smart cities enjoying advanced basic services and modern technology. It will also build three-dimensional cities revolving around urban, social and economic development. This approach depends on the participation of the private sector, particularly in empowering urban communities so that advanced and smart Omani cities stimulate growth and provide a safe place to live.
NATURAL RESOURCES
The future strategy in natural resource management will focus on developing nontraditional sources of natural resources, such as the use of renewable energy to reduce production costs and subsequently, enhance the competitiveness of economic sectors. New infrastructure projects will be geared towards a green economy, green strategies, and renewable energy production. This approach should take place in such a manner as to promote environmental sustainability, achieve stability, reduce the constraints and pressures of financial management, and replenish the treasury with revenues from non-traditional natural resources.