Oman seeks renaissance under Sultan’s guidance

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Oman seeks renaissance under Sultan’s guidance

Published: 19 Nov. 2024, 10:56

His Majesty Haitham Bin Tarik, Sultan of Oman [EMBASSY OF OMAN]

The Sultanate of Oman celebrated the 54th glorious National Day on Nov. 18, marking milestone accomplishments in different areas.

The citizens of Oman and various state institutions are credited for an indispensable contribution to the continuous achievements on the path toward comprehensive development under the forward-thinking and reasoned vision of His Majesty Sultan Haitham Bin Tarik to bring progress and prosperity in all fields.

Oman Vision 2040

According to His Majesty’s directives under Oman Vision 2040, state institutions have developed appropriate conditions to move forward over the past five years.

In line with the plan, the sultanate is focusing on developing sustainable cities while applying the principle of administrative and economic decentralization.

The municipal councils in various governorates are fortifying their decentralized operations, with the central government developing legislation in accordance with the long-term vision to enable the councils to carry out their developmental and societal roles in accordance independently.

The Haitham City project represents the first smart and sustainable project as an integrated city with some 20,000 housing units distributed over 19 integrated neighborhoods with various facilities and services.

As the driver of economic development and GDP growth with a substantial contribution to economic diversification efforts, the private sector is a key partner for the public sector in the development of education, health and social investment.

The private sector has been granted incentives such as the “Nazdaher” National Program for Private Sector Development and Foreign Trade and financial and sustainability initiatives, along with new opportunities for partnership with the government. Entrepreneurs and small and medium enterprises, as incubators of national capital investment and innovators of project ideas that benefit society, also attract foreign investment through project collaboration or the provision of locally sourced products and services.

A Stronger Global Standing

The progress made by the Sultanate of Oman according to many global indicators reflects its determination to achieve its aspiration to be among advanced countries.

The country ranked 40th on the Global Soft Power Index issued by the British Brand Finance Agency in 2024, up from 46th place a year before. It also advanced in other sub-indices, moving up 10 ranks in the Sustainable Future Index and 5 spots in the Positive Impact Index.

The country made qualitative progress in the Global Environmental Performance Index for 2024 by the Yale Center for Environmental Policy and Law at Yale University, advancing 99 places to 50th.

His Majesty Haitham Bin Tarik, Sultan of Oman [EMBASSY OF OMAN]

A Better Social Structure

In 2024, the sultanate also launched a social protection system by unifying and merging pension funds and restructuring the schemes.

The Sultanate of Oman also attaches a great importance to education sector. Last September, under the chair of His Majesty the Sultan, the Council of Ministers approved an additional $104 million for the current five-year plan to help construct new schools to accommodate a rising student population, which exceeded one million during the current academic year.

This year 16 new schools opened in different governorates, and 15 are currently under construction with tenders floated for 20 new ones.

Oman’s health sector is also seeing remarkable progress, with better health infrastructure and a higher quality of services. With a focus on secondary and tertiary care, hospitals across the country are being built, expanded or upgraded. Currently, nine hospitals are being built with more than 1,660 beds, and five other referral hospitals are being expanded.

To keep pace with the requirements to provide basic health services, 15 primary health care institutions are currently being built or expanded, in addition to nine kidney dialysis units.

University Medical City, a medical institution with financial and administrative independence under the Ministry of Health that was established last February includes Sultan Qaboos University Hospital, the Oman National Center for Hematology and Marrow Transplantation and the Sultan Qaboos Comprehensive Cancer Care and Research Center. The Medical City Hospital for Military and Security Services Muscat, which was inaugurated by the Sultan this month, represents the continued effort of the government to provide medical services and health care.

A Vibrant Culture & Youth

Oman has also gained traction among travelers, with 2023 seeing nearly 4 million tourists — a 36.7 percent on-year jump.

The Sultan’s vision seeks to provide an environment conducive to qualitative cultural and intellectual institutions. Laying the foundation stone of the Oman Cultural Complex at Airport Heights in the Muscat Governorate represents a vivid example of this approach. The complex promotes cultural, literary, theatrical and research activities to expand engagement with the country’s cultural heritage and exploration of its accomplishments. The complex includes the National Theatre, the National Library and the National Records and Archives Authority.

The importance of the youth in the country’s drive forward was underscored by HH Sayyid Theyazin bin Haitham Al Said, minister of culture, sports and youth, when he addressed the youth on their annual day, lauding their thinking, dedication and endeavors as he affirmed that Oman relies on them to press ahead toward development.

Domestic Politics

On the domestic front, the Sultan continues his royal tours to engage with citizens across the country, holding a meeting at the Royal Camp in Saih Al Mahasin in the Wilayat of Khasab, Musandam Governorate with sheikhs and dignitaries, some members of the Council of Oman and the Municipal Council as well as the business community there.

The Council of Oman, represented by the State Council and the Shura Council, adheres to laws that have defined the paths of work according to clear powers.

During the first assembly of the eighth term, the State Council discussed draft laws referred by the government and drafted the general state budget for the 2024 fiscal year. It also held five public sessions. A joint session was held with the Shura Council to discuss the disputes over the draft laws. For its part, the Shura Council concurrently held 12 regular sessions and dealt with four ministerial statements, approving 20 draft laws and agreements referred by the government, along with four urgent statements.

The Sultanate of Oman has always emphasized the principles of transparency and integrity and applying the approach of accountability in all sectors by boosting the oversight system. His Majesty has underscored the importance of simplifying procedures and governing performance, integrity and accountability to ensure full alignment and harmony with the requirements of his vision.

Economy & Business

The government improved the state’s economic and financial performance and reduce debt while increasing the GDP. The state’s public revenue at the end of August 2024 amounted to $21 billion. The general budget until August 2024 achieved a surplus of about $1.16 billion, while the public debt portfolio declined by the end of June 2024 to $37.4 billion, compared to $54 billion in 2021.

The volume of foreign direct investment in the Sultanate of Oman through the end of the fourth quarter of 2023 amounted to $65 billion, an increase of 21.6 percent compared to the same period in 2022. The Oman Investment Authority (OIA) is striving to make the Sultanate an attractive investment destination.

The authority’s assets increased to $50 billion compared to about $46.5 billion at the end of 2022. It contributed to achieving profit in excess of $4.4 billion and supported the state’s general budget with $2 billion, while repaying $779 million in loans for subsidiaries before their maturity date in 2023. The OIA invests in 13 global funds, including the Platinum Investment Fund and the Global Infrastructure Fund, as well as direct investments in global companies such as the U.S. firm Our Next Energy and Australia's Hysata.

One of the most important strategic projects inaugurated at the beginning of this year was the Duqm Refinery and Petrochemical Industries Project in the Special Economic Zone in Duqm. The refinery is the largest joint investment project between the Oman and Kuwait, integrated between the Omani OQ Group and Kuwait Petroleum International Company, with capital exceeding $9 billion. Oman has completed various other renewable energy projects, including the Manah Solar Power Project in the A’Dakhiliyah Governorate, which has a production capacity of 1,000 megawatts and the Ibri Solar Power Project in the A’Dhahirah Governorate with a production capacity of 500 megawatts, among others.

Drawing in $460 million the first half of 2024, the total volume of investment in all industrial cities affiliated with the Public Establishment for Industrial Estates totaled over $19.7 billion, including Knowledge Oasis Muscat and the Al Mazunah Free Zone.

Meanwhile, the number of localized investment contracts reached 2,310. As many as 55,242 employees work in investment projects in all industrial cities, of whom Omanis constitute 38 percent, while the total area of existing and new industrial cities reached 163 square kilometers.
The $3.5 billion was invested in pharmaceuticals, food, petrochemicals, plastics, logistics, renewable energy and more in the Sohar Free Zone, Salalah Free Zone and Khazaen Economic City.

The ports of Sohar, Salalah and Duqm are major berthing stations on various global shipping lines, enabling Omani exports to easily reach international markets. During the first half of 2024, these ports handled about 1.8 million containers with a general cargo volume of up to 13 million tons.

With its strategically valuable location, the dry dock in Duqm — the second largest dry dock for ship repair and maintenance in the Middle East and North Africa — housed 106 projects from about 70 countries during the first half of 2024.

His Majesty Haitham Bin Tarik, Sultan of Oman [EMBASSY OF OMAN]

Foreign Policy

Oman also continues to extend bridges of cooperation, consolidate the principle of friendship and strengthen relations globally. His Majesty Sultan Haitham bin Tarik’s visits to other countries emphasizes cooperation and close diplomatic relations. The visits also facilitate communication, exploring opportunities for mutually beneficial development and growth. His Majesty recently made visits to the India, Singapore, Britain, Germany, the United Arab Emirates, Kuwait and Jordan.

Several world leaders also visited Oman, including President Frank-Walter Steinmeier of Germany, Sheikh Mishal Al Ahmad Al Jaber Al Sabah, Emir of Kuwait, Swiss President Alain Berset and President Abdelmadjid Tebboune of Algeria. During these visits, many agreements, memoranda of understanding and executive programs were penned for broad cooperation.

The principles of good neighborliness, non-interference in the internal affairs of others, establishing a fair system for the exchange of benefits and interests, establishing the foundations of stability and peace and contributing positively are the pillars of Oman’s foreign policy, which also values dialogue and tolerance in approaching all issues and challenges to achieve peace, basing relations on mutual respect, positive cooperation and harmony.

In a speech before the 79th session of the United Nations General Assembly, the Sultanate of Oman affirmed that its leadership, government and people believe in using legitimate and peaceful means to resolve issues and conflicts. From this standpoint, it called for an immediate cessation of fighting and a ceasefire in the Gaza Strip, Lebanon and the Red Sea region, and addressing the causes of the conflict by ending the Israel-Palestine conflict the and the establishment of a Palestinian state under the two-state solution reflecting the 1967 borders.

His Majesty Haitham Bin Tarik, Sultan of Oman [EMBASSY OF OMAN]

BY KIM YEONSOO [[email protected]]

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