Supporting small and medium-sized enterprises (SMEs) is near the top of the agenda for Oman’s government, as they are seen as a crucial element in the long-term goal of enlarging the private sector and creating jobs within it for Omanis. The sultanate’s leadership recognises that these grassroots businesses are key drivers of economic...
An ancient maritime power, Oman is open to the modern world but at the same time preserves a strong sense of tradition and culture. While many countries are moulded by their geography, for Oman this is especially true. In addition to the main part of its territory on the Arabian Sea, Oman also includes the tip of the Musandam Peninsula, which...
The sultanate’s economy continues to enjoy the benefits of its petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. Planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating more private sector jobs at the top of...
At a conference in Riyadh in May 2012, Abdul Latif bin Rashid Al Zayani, the secretary-general of the GCC, addressed the numerous changes that have taken place in the region in recent years. “The new political, security and military challenges – as well as insecurity in the Arab region and the changes in the regional and global forces of power...
In recent years, we have spoken of the need to invest in a modern and efficient infrastructure throughout all the sectors of our land, and we are now regularly seeing the fruits of those labours. Better communications, whether by land or sea or air, more advanced technology, further development of our energy resources from which we fund our...
Petroleum wealth in Oman means the government has little need to sell bonds, which is the primary reason a robust market for debt securities has yet to develop. While the sultanate does sell bonds from time to time, the amounts are usually small and there are no regular schedules for any instruments other than short-term debt used by banks to...
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