Oman ranked fifth in Arab Competitiveness Report 2022

Oman Thursday 02/February/2023 16:36 PM
By: Times News Service
Oman ranked fifth in Arab Competitiveness Report 2022
The report was prepared by the Arab Monetary Fund.

Muscat: The Sultanate of Oman ranked fifth in the Arab world in the Arab Competitiveness Report for the year 2022, according to a report by the Arab Monetary Fund.

The Sultanate of Oman came fifth, after the UAE, Qatar, Saudi Arabia and Kuwait, while Bahrain came sixth.

The report also indicated that the Sultanate of Oman ranked third in the Arab world in the sub-investment environment and attractiveness index, after the UAE and Qatar.

According to the Arab Monetary Fund, the general index of the competitiveness of Arab economies was measured at the level of the group of Arab countries during the period from 2018 to 2021, by comparing it with nine reference countries: Turkey, Malaysia, South Korea, Singapore, Brazil, South Africa, Thailand, Spain and India.

The report explained that the Arab Economies Competitiveness Report focuses on measuring the competitiveness of Arab economies, using two main indicators: the macroeconomic index, and the investment environment and attractiveness index.

The macroeconomic index reflects the ability to achieve the foundations of macroeconomic stability, with what entails achieving price stability and adopting disciplined fiscal and monetary policies.

The report added that the importance of the foreign investment attractiveness and environment index lies in measuring the state's ability to create a competitive environment, ensuring the continued availability of capital, by focusing on developing regulatory and legal frameworks and economic policies.