Oman’s positive economic indicators a result of Transformational reforms

Oman’s positive economic indicators a result of Transformational reforms

Muscat: Positive economic indicators and ratings earned by the Sultanate of Oman are a result of reforms undertaken by the government to encourage diversification and investment. That's according to Qais bin Mohammed Al Yousef, the country's Minister for Commerce, Industry and Investment Promotion, who welcomed "the strong and decisive leadership of His Majesty Sultan Haitham Bin Tarik and the economic reform measures his government has put in place." "I am also proud to share that the response from the international community to these transformational policies has been encouraging," he added. Al Yousef was speaking at a recent meeting of the Arab-British Chamber of Commerce in London, where he described at length the steps being taken by Oman to encourage foreign investors to help diversify the economy, as well as the measures adopted to improve the country's fiscal performance. "In November last year, as Oman participated in its third World Trade Organisation trade policy review in Geneva, WTO members complimented Oman on its low tariffs and minimal non-tariff barriers to trade," explained the minister. "Earning particular WTO praise was the 10 percent growth in our GDP in the first half of 2021, as well as new legislation covering foreign capital investment,