Oman

Supporting the development of Oman’s small and medium-sized enterprises (SMEs) is regarded as a key method for boosting private sector employment levels and direct Omani involvement in the economy. With these goals in mind, government policy is being implemented to provide SMEs with additional funding and expertise, as well as to grant them wider access to government tenders.

Domestic gas requirements are set to expand rapidly over the next few years as Oman’s industrial base expands and as the utilities sector grows to keep pace with rising demand for water and electricity. However, officials have said projected increases in gas production will be managed to ensure supplies can be guaranteed over the long term.

Institutes of higher learning in Oman are cooperating more closely with local businesses, as the Sultanate looks to boost employment opportunities for nationals in the private and public sectors.

Work on Oman’s national rail network – part of a wider system linking all the countries of the GCC – is picking up pace, with advanced planning work now under way and construction set to begin next year.

Insurers in Oman are planning to make better use of technology and raise the industry’s profile in an effort to boost the size of the market and improve profitability in what is a crowded sector.

Stable growth in Oman during 2013 is expected to continue this year, supported by both an increase in oil production and the government’s fiscal policies, with the non-oil sector set to boost expansion.