Oman’s economic diversification plan gets green light
MUSCAT: Malaysia’s model of economic diversification will be the blueprint for Oman, after His Majesty Sultan Qaboos bin Said approved the Sultanate’s latest non-oil based growth plan.
Oman’s National Programme for Enhancing Economic Diversification has received Royal approval and stems from His Majesty Sultan Qaboos bin Said’s interest in addressing the issue and his directives to diversify the economy, Talal Sulaiman Al Rahbi, Deputy Secretary General of the Supreme Council for Planning, confirmed on Tuesday.
Non-oil sectors
His Majesty the Sultan has been stressing the promotion of nonoil sectors of the economy and to find alternatives to support national economic and development efforts in Oman.
Al Rahbi added that the programme is taking place within the context of the implementation of the 9th Five-Year Plan endorsed by the Royal Decree No. 1/2016.
Its implementation will be according to a systematic plan managed by a team of Omani and international experts, working in collaboration with the Malaysian Government through the Delivery Unit (PEMANDU) that reports to the Malaysian Prime Minister.
The Malaysian team is working directly with the Omani team, to ensure that Oman will benefit from the Malaysian economic transformation experience.
The National Programme for Enhancing Economic Diversification involves several steps. These include the implementation of targeted “Labs” (working groups) during September and October of 2016, with the participation of officials and specialists from Government agencies and the private sector, along with civil society organizations and a number of academics.