New report shines spotlight on Oman’s Vision 2040 progress

New report shines spotlight on Oman’s Vision 2040 progress

Muscat: A new report produced by the global research and advisory firm Oxford Business Group (OBG) explores Oman’s progress towards achieving the long-term goals laid out in its Vision 2040 roadmap, which include diversifying the economy, creating sustainable cities and accelerating privatisation and Omanisation.

The Report: Oman 2023 shines a spotlight on the sectors that are ripe for growth in support of these aims, which range from tourism, manufacturing and energy to ICT, transport, mining and agriculture.

It also tracks the positive impact that legislative reforms introduced to enhance the Sultanate of’s business environment are having on investment inflows and private sector development.

Oman’s industrial, free and special economic zones are a key focus, with analysis on how infrastructure improvements, incentives and concessions are playing a role in attracting investors to these designated areas.

OBG also looks in detail at the sultanate’s plans for its energy sector, which include reducing the focus on oil and gas and shifting to cleaner fuels, in line with the goal to become a net-zero economy by 2050. In this section, the country’s long-term aim of becoming a global leader in the production and export of hydrogen is also analysed.

Other topics examined include the key role that Oman’s robust