Country Profile

The year 2015 marks the 45th anniversary of the accession of His Majesty Sultan Qaboos bin Said al Said and the establishment of the Sultanate of Oman. While less hydrocarbons rich than its GCC neighbours, an increased focus on diversification is driving economic growth in the sultanate. In its eighth five-year plan (2011-15), the government has increased spending on key infrastructure projects, which is enhancing Oman’s status as a logistics hub in the region. Expansion and development of the three major ports at Salalah, Duqm and Sohar are ongoing, and major upgrades to the international airports in Muscat and Salalah are also under way. In addition to this, the planned National Railway Network is set to cover 2244 km and will connect the sultanate’s three port cities with other GCC countries, while, further afield, trade agreements with emerging Asian economies look set to boost opportunities for Omani companies. This chapter contains a viewpoint from Sultan Qaboos bin Said al Said; and interviews with Lim Hng Kiang, Singapore Minister for Trade and Industry; and Roberto Azevêdo, Director-General, World Trade Organisation (WTO).