New steps taken to boost Oman Vision 2040, develop national economy

Oman Monday 19/June/2023 21:21 PM
New steps taken to boost Oman Vision 2040, develop national economy

Muscat: Oman Vision 2040 Implementation Follow-up Unit on Monday organised a media briefing during which it outlined Oman Vision 2040 Report for the year 2022/2023.

The report elaborated on efforts exerted by all government departments concerned with a view to realising the goals of the vision.

The briefing explored components of the report which stemmed from the comprehensive system for realizing Oman Vision 2040, its priorities and its programmes.

Dr. Khamis Saif Al Jabri, Chairman of Oman Vision 2040 Implementation Follow up Unit, affirmed that the vision is making good progress in terms of executive tasks of the plans forming the vision.

The vision has become a reference for comprehensive development at the national level, including national programmes led by government departments responsible for economic transition and social transformation, he added.

Work is currently underway in cooperation with all government departments to address the decline in some indicators of priorities related to Oman Vision 2040, said Al Jabri, noting that the gross domestic product (GDP) indicator takes centre stage in the vision now.

Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, said that, in 2022, the Sultanate of Oman posted 5 percent growth in the actual value of private investments and 10.5 percent rise in the volume of foreign direct investment (FDI), compared to the volume of investments in 2021. This increase reflected in foreign investment flow at a rate of 4.2 percent of the GDP, he observed.

The minister said that the National Programme for Investment and Exports Development Nazdahir seeks to enhance the role of the private sector in leading economic development.

He explained that this is accomplished by furnishing a proper environment for investment and business, streamlining and digitising procedures for investors and developing investment partnerships between Oman and the business community, locally and abroad.

Sayyid Dr. Munther Hilal Al Busaidi, Deputy Chairman of the Oman 2040 Implementation Follow-up Unit, said that emphasis was laid on indicators with the highest impact on Oman Vision 2040. The number of indicators was cut down from 68 to 39 indicators, among them 5 were international and 34 were national, he added.

Sayyid Dr. Munther said that 40 government departments were approved and their indicators were endorsed. He pointed out that the second phase targets other government departments and includes the development of indicator cards for governorates. It is hoped that the indicator cards would constitute a reference for devising annual plans and determining future approaches in a manner that serves the vision’s objectives and reflects on its projects and initiatives, he said.

Dr. Abdullah Ali Al Amri, Chairman of the Environment Authority, said that the Authority is joining hands with relevant government and private establishments to upgrade the standard of the environment sector in Oman in accordance with the objectives of Oman Vision 2040.

Dr. Jokha Abdullah Al Shukaili, CEO of Oman Authority for Academic Accreditation and Educational Quality Assurance, said that Oman Vision 2040 comprised a large number of programmes and initiatives within the education sector. Those include the issuance of the Higher Education Law and the School Education Law, as well as the launch of the National Framework for Leaderships, she added.

Dr. Jokha referred to what she described as remarkable progress in international ranking of universities in Oman. She pointed out that five Omani universities, along with Sultan Qaboos University (SQU), entered into competition among 500 universities around the world to opt for advanced ranks within this classification.

Oman Vision 2040 is based on 4 pillars: Human and Society, Economy and Development, Governance and Institutional Performance and Sustainable Environment. Twelve national priorities emerged from the vision.

Acting in conjunction with government departments concerned, Oman Vision 2040 Implementation Follow-up Unit succeeded in completing many projects related to each priority.

Oman Vision 2040 identified a set of international and national indicators for each priority. These indicators measure the rate of accomplishment of Oman Vision 2040 through efforts made to realise the strategic approaches and objectives. Oman targets the accomplishment of certain classifications or values in these indicators during the upcoming years until 2040.