His Majesty issues directives to boost Oman’s economy

Oman Saturday 05/March/2022 22:22 PM
His Majesty issues directives to boost Oman’s economy
Photo: ONA

Muscat: His Majesty Sultan Haitham bin Tarik chaired a meeting of the Council of Ministers at Al Barakah Palace on Thursday.

At the outset of the meeting, His Majesty the Sultan gave thanks and praise to the Almighty Allah for the bounties of security and stability with which He has endowed Oman, as well as the accomplishments made at the nation’s level. He prayed to the Almighty Allah for divine assistance to facilitate the progress of Oman’s march of bounty. He wished that these riches be everlasting on the nation and citizens and that all benign efforts be a success.

His Majesty the Sultan underscored the significance of all individuals and parties exerting diligent efforts and collaborating towards the realisation of more accomplishments.

Then, His Majesty the Sultan made a review of the situation on the domestic front. Following his Royal attention to social sectors and his keenness on improving living conditions, His Majesty the Sultan, through his speech, stressed the need to sense citizens’ requirements and listen to the people, notably Social Security Scheme categories and low-income groups.

His Majesty the Sultan gave directives to accelerate the revision of social programmes and the social security allocations in a manner that provides appropriate living standards for those segments. In this context, His Majesty the Sultan gave orders to disburse an additional pay for Social Security Scheme beneficiaries upon the advent of the holy month of Ramadan and to help alleviate the impact, on this group, of the high price of commodities and services.

As part of his Royal vision that economic prosperity prevails in all governorates of the Sultanate of Oman, His Majesty the Sultan issued orders to set up an economic zone at Al Rowdha in the Wilayat of Mahdha, Governorate of Al Buraimi, with the prime aim of activating the local economy within the wilayat and the governorate. The economic development drive envisages the foundation of projects, the attraction of investments and capital and the creation of employment opportunities for citizens.

In culmination of previous Royal directives to stimulate the national economy, spruce up the investment climate, consolidate business and industrial activities and improve the status of private sector firms, His Majesty the Sultan gave directives to cut down some of the fees of the labour sector.

In keeping up with global developments towards diminishing carbon emissions and, given the diverse uses of Green Hydrogen in producing electrical power and providing energy for local industries and fuel for means of public transport, with options for export to international markets, His Majesty the Sultan gave a set of directives in this regard.

His Majesty the Sultan called for consistent follow-up of global developments in Green Hydrogen technologies, the acceleration of steps to regulate this sector, devising legal frameworks for it, drafting policies for its growth and allocating suitable sites for the production of Green Hydrogen with the aim of enhancing foreign investment and localising these technologies. He also gave directives to conduct necessary studies, create a new directorate general for clean energy and hydrogen power at the Ministry of Energy and Minerals and to establish a company for the development of this lucrative sector.

Within the context of his review of regional and international issues, His Majesty the Sultan spoke about Oman’s relations with Arab and friendly countries and reaffirmed the Sultanate of Oman’s keenness to extend bridges of cooperation for all and in all spheres that generate mutual benefit and achieve common consensus.

His Majesty the Sultan said that the Sultanate of Oman is following up developments on the Ukraine-Russian front with deep anxiety. His Majesty the Sultan laid emphasis on the need to return to diplomacy, solicit wisdom and dialogue and encourage peaceful negotiations among the parties of the crisis on the basis of the UN Charter, the International Law and principle of good neighbourliness.

At the conclusion of the meeting, His Majesty the Sultan touched on a variety of issues of interest to the nation and citizens. He wished continuous success for all in realising prosperity for Oman and its loyal citizens.