Country Profile

Located in the south-eastern quarter of the Arabian Peninsula, Oman is the only member of the GCC situated outside of the Gulf. Leveraging its strategic location, Oman has invested in infrastructure with the goal of becoming a global logistics centre. While the country is less hydrocarbons-rich than its GCC neighbours, diversification efforts are nonetheless a driving force. The sultanate’s long-term development strategy, Oman Vision 2020, emphasises diversification, privatisation and Omanisation. Logistics, tourism, mining, manufacturing and fisheries have all been identified as potential future economic drivers, and will be the focus of development under the next plan, Vision 2040. This chapter contains viewpoints from Sultan Qaboos bin Said Al Said; and Xi Jinping, President, People’s Republic of China.