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. Diversification efforts are a driving force behind economic growth while infrastructure and transport works are boosting connectivity. The sultanate’s long-term development strategy, Oman Vision 2020, emphasises diversification, privatisation and Omanisation. As the final leg of Oman Vision 2020, the sultanate’s ninth five-year plan continues to drive the country towards social development, the economic diversification of many production sectors and the optimal utilisation of available natural resources. This chapter contains viewpoints from Sultan Qaboos bin Said Al Said and Christine Lagarde, Managing Director, IMF.