Economic diversification discussed

MUSCAT: A seminar on the topic “The Economies of the GCC States in the Post-Oil Era: Horizons and Solutions” was organised here on Wednesday.

Oman Chamber of Commerce and Industry (OCCI) organised the event under the patronage of Sultan bin Salim Al Habsi, Secretary General of the Supreme Council for Planning. The aim was to identify the nature of the challenges of global oil prices and their impact on the region, and to take advantages of the regional and international expertise in economic diversification to find new alternatives that gradually move away from dependence on oil as the main source of income.

Dr. Abdul Latif bin Rashid Al Zayani, Secretary-General of the Gulf Cooperation Council, said in a speech that the GCC countries have sought to exploit oil revenues in implementing development plans to achieve sustainable development and provide a stable, prosperous and secure environment that gives the Gulf man the oppor- tunity to produce and innovate as they are the goal of development and its source and means.

Qais bin Mohammed Al Yousef, Head of the Economic Committee at OCCI said that the seminar seeks to identify the nature of the current and future effects of the fall of world oil prices on the GCC countries.

File photo – MEETING: The State Council Office held on Wednesday its 9th meeting of the 2nd annual sitting of the 6th term under the chair of Dr. Yahya bin Mahfoudh Al Mantheri, Chairman of the State Council.