The program has developed a set of primary projects based on its business model
Muscat – The Ministry of Economy, in cooperation with Oman’s Vision 2040 Implementation Monitoring Unit, has presented the National Economic Diversification Program in line with the Tenth Five-Year Plan (2021-2025).
Dr. Saeed bin Mohammed al-Saqri, Minister of Economy, said the program includes a number of proposed policies and procedures to boost the speed of economic diversification in the Sultanate of Oman, adding the expansion of the production and export base and allowing economic sectors to give a contribution to non-oil revenues.
He said the program operates in two parts: planning, focusing on the progression of projects and studies, integration with other national programs, conducting monetary and economic analyses, and creating a threat control system. Sectors known for diversification are mining, transport, logistics, food security and tourism.
The program has developed a set of primary projects within its entrepreneurial style: comparison with global styles of economic diversification, urban strategy research from an economic perspective, and herbal resource-based supply chain research, among others.
Al Saqri said the program will propose economic diversification policies, incentive systems and the development of detailed national indicators.
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