Latest news with #SultanQaboos
Zawya
2 days ago
- Business
- Zawya
Oman Vision 2040 is a blueprint for sustainable growth: World Bank
From digital corridors to investment pipelines, Oman Vision 2040 is transforming the present for a stronger future, and symbolizes yet another chapter of strategic evolution that has characterized the country from prehistoric Majan to modern Oman, said the World Bank in its blogs. "Developed through extensive consultations with citizens, Vision 2040 enshrines a diversified and resilient economy less reliant on oil while fostering a globally integrated and prosperous society. What began under the leadership of the late Sultan Qaboos bin Said, with the careful planning of His Majesty Sultan Haitham bin Tarik, is a roadmap charting how Oman can adapt to changing economic conditions, shifting culture, and disrupting technology to steer Oman toward economic diversification, sustainability, and global competitiveness. Oman's steady progress under Vision 2040 offers a model for other emerging economies navigating uncertainty through long-term planning. It further guides Oman's increased global engagement and partnership with organizations like the World Bank Group," the blog said. Oman and the World Bank Group have enjoyed an active partnership for decades. This has led to working together on a range of areas aligned to Vision 2040, from national development plans and budget system modernization to transport and fisheries. A key focus right now is strengthening the investment climate to support private sector-led growth and job creation. The World Bank is bringing global knowledge and advice on best practices in business environment reforms tailored to the Omani context. IFC, the Bank Group's private sector arm, recently announced new investments to bolster the country's sustainable finance market and empower the private sector. MIGA, home of the World Bank Group Guarantee Platform, secured $1.2 billion in commercial financing of the infrastructure works for the Duqm Special Economic Zone. Central to Oman Vision 2040 is the imperative of economic diversification and building a knowledge, technology-driven economy. In practice, this means investing in digital infrastructure, encouraging R&D, and nurturing new industries. Major regulatory reforms have been rolled out to catalyze private-sector growth and foreign investment. For example, a new Foreign Capital Investment Law took effect in 2020, removing minimum capital requirements and allowing 100% foreign ownership in many sectors. Attracting foreign direct investment and strengthening the private sector are key components of the Vision, and these reforms unlock those opportunities. Oman is also leveraging its strategic geography to become a logistics and trade hub. Positioned outside the Strait of Hormuz on major global trade routes, it has prioritized modernizing ports, free zones, and airports. The development of Duqm – a vast special economic zone with a deep-sea port – and upgrades at Salalah and Sohar ports exemplify this push. Such investments aim to streamline the flow of goods and make Oman a vital link in global supply chains. Already, early results of the economic transformation are visible: non-oil sectors like construction, manufacturing, and transport are growing quickly. Maintaining this momentum will require sustained reform, and Oman's multi-pronged approach – from startup incubators to industrial free zones – is steadily transforming the economy. Sustainable development is an overarching principle, and Oman's fisheries sector is a standout success story for this agenda. Fisheries have evolved from a traditional, artisanal industry into a technology-enabled sector that contributes to diversification. The government, with World Bank support, crafted a Fisheries and Aquaculture Vision to create a profitable world-class sector that is ecologically sustainable and a net contributor to Oman's economy. The innovation shown in the Omani sustainable fisheries sector is yielding impressive results. The sector is expanding at near double-digit rates, with a recorded 7.5 percent sectoral growth in the first three quarters of 2024. This progress reinforces the country's ambition for economic diversification by setting a high bar, with the sector aiming to reach 10 percent annual growth and contribute 2 percent to the national GDP. Developing human capital is another key element of Oman's vision. A skilled, educated populace is the bedrock of competitiveness. Educational reforms are underway to align curricula with future labor market needs and improve quality at all levels. Oman's ambition includes ranking among the top 20 countries in global education indices by 2030, and top 10 by 2040. Investments in schools and universities over the past decades have dramatically expanded access. Now the focus is on boosting outcomes in science, technology, engineering, and math to nurture a knowledge economy. Equally important, Oman is fostering a culture of research and entrepreneurship. Through its Ministry of Higher Education, Research, and Innovation, new programs are funding research and the commercialization of ideas. Innovation parks and incubators have been launched in partnership with the private sector to mentor startups and turn student projects into marketable products. Aspiring young entrepreneurs receive support via financing initiatives and training programs, often co-sponsored by government and industry. Public-private partnerships are helping build this innovation ecosystem – for example, technology companies are collaborating with Omani colleges on coding academies, and energy firms are investing in technical training centers. These efforts are bearing fruit: a burgeoning startup scene is evident in Muscat, and the number of Omani tech SMEs is on the rise. In parallel, Oman has worked to make its labor market more flexible and dynamic, implementing new labor policies in 2023–24, adding more benefits for women, and encouraging private-sector hiring of Omanis. With 64% of the population under 30, all these measures aim to harness Oman's demographic dividend by equipping its youth with the skills and opportunities to innovate. To ensure the successful realization of Oman Vision 2040, a specialized entity—the Oman Vision 2040 Implementation Follow-up Unit—was established by Royal Decree 100/2020. Reporting directly to the Council of Ministers, the Unit plays a central role in monitoring the progress of the vision, facilitating coordination across sectors, addressing challenges, and providing strategic support to align efforts with the national vision. Looking forward to the next 15 years, there will be continued opportunities as well as challenges in realizing the vision. Successful implementation requires continued commitment, adaptability, and engagement with global partners. Oman's journey towards realizing its 2040 vision can serve as a valuable case study for other countries navigating uncertainties and striving for economic diversification, sustainability, and global integration. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
27-05-2025
- Politics
- Observer
Oman, Iran, launch commemorative stamp
Muscat: To coincide with the visit of Dr. Masoud Pezeshkian, President of the Islamic Republic of Iran, to the Sultanate of Oman, Oman Post, in cooperation with the National Post of Iran, announced the launch of a joint commemorative stamp today at Al Alam Palace in Muscat. The joint stamp reflects the deep cultural and historical ties between Oman and Iran, and the two countries' shared commitment to a policy of good neighborliness, constructive cooperation, and cultural exchanges between peoples. The stamp's artistic design embodies a visual harmony between the two countries' architectural and cultural symbols. At its center is the Sultan Qaboos Grand Mosque in Muscat, a prominent symbol of Omani Islamic architecture, framed by palm trees symbolizing Oman's resilience and deep-rooted agricultural heritage, which constitutes an integral part of the country's environmental and social identity. Opposite, the historic Bastak Mosque in southern Iran is framed by the cypress tree, a symbol of eternity in Persian visual culture and a testament to cultural stability and continuity. At the heart of the design is a hand-woven Persian carpet, inspired by the one in the Sultan Qaboos Grand Mosque. Handwoven in Iran's Khorasan Province and decorated with delicate floral motifs, it is a fine example of artisanal collaboration and a symbol of the diverse cultural ties between the two friendly countries and societies. Above this scene, the sun of renewal and hope for a prosperous future rises, symbolizing the two countries' aspirations for positive cooperation. A carrier pigeon soars above, a symbol of communication, peace, and harmony, carrying a continuous and renewed message of friendship and shared interests. Through this stamp, both sides affirmed their determination to enhance cooperation in the field of postal services, contributing to expanding promising areas of partnership with greater mutual benefits.
Muscat Daily
27-05-2025
- Politics
- Muscat Daily
Oman, Iran unveil joint commemorative stamp
Muscat – The Sultanate of Oman and Islamic Republic of Iran released a joint commemorative stamp on Tuesday celebrating the deep-rooted cultural and historical ties between the two nations. The stamp was officially unveiled at Al Alam Palace in Muscat by H E Sayyid Badr bin Hamad al Busaidi, Foreign Minister, and Abbas Araghchi, Minister of Foreign Affairs of Iran. The ceremony coincided with the official visit of Dr Masoud Pezeshkian, President of Iran, to the sultanate. Sayyid Nasr bin Badr al Busaidi, Chairman of Oman Post, said the stamp reflects the strong cultural bonds and mutual commitment to values of good neighbourliness, cooperation and people-to-people engagement. The design showcases Sultan Qaboos Grand Mosque in Muscat framed by palm trees symbolising resilience and heritage, juxtaposed with Iran's historic Jameh Mosque of Bastak, framed by cypress trees, long revered in Persian culture as symbols of eternity and continuity. At the centre of the design is a hand-woven Persian carpet, inspired by a famed carpet at Sultan Qaboos Grand Mosque. Crafted in Iran's Khorasan Province, it features intricate floral motifs representing the rich artistic traditions shared by both countries. The stamp marks enhanced cooperation in postal services between the two nations, opening new avenues for bilateral partnership and cultural diplomacy.
Khaleej Times
25-05-2025
- Business
- Khaleej Times
Look: When GCC was born in Abu Dhabi 44 years ago after two-day summit
On May 25, 1981, forty-four years ago, the heads of state of six Gulf contries formally launched the Gulf Cooperation Council at the Inter-Continental Hotel in Abu Dhabi. It was a two-day summit aimed at turning the regional cooperation body into a nucleus for broader unity of all Arab nations. The six leaders who attended the summit were King Khaled Ibn Abdelaziz of Saudi Arabia, Sultan Qaboos bin Said of Oman, Sheikh Jaber Al Ahmed Al Sabah of Kuwait, Sheikh Isa bin Salman Al Khalifa of Bahrain, Sheikh Khalfia bin Hamad Al Thani of Qatar and President Sheikh Zayed bin Sultan Al Nahyan of the UAE. Chedli Klibi, then secretary general of the Arab League, and Habib Chatti, then secretary general of the Islamic Conference Organisation, also attended and addressed the meeting. As reported by Khaleej Times, Sheikh Zayed described the event as a historic and momentous occasion. The UAE founding father saw in the formation of GCC 'the fulfilment of long-cherished hope of the peoples of the region for security, stability and progress.' He told the plenary session of the summit that the GCC would help unify the Arab world and promote solidarity. The charter of the GCC was first agreed upon in Riyadh in February 1981. It was finalised in Muscat in March of the same year. The heads of the six Gulf states signed it with a vision that the six countries would coordinate their policies in financial affairs, trade, communications, education, culture, health, social affairs, information and tourism, and in administrative and legislative affairs. The leaders agreed to mobilise their resources and human and material infrastructure to push the GCC towards success. The GCC charter also stipulates that the six states would jointly step up cooperation in the fields of scientific and technological advancement, industry, mining and agriculture. The GCC is headed by a Supreme Council of the six heads of state. The ministerial council and secretariat are led by the secretary-general. Kuwait's former UN ambassador Abdullah Yacoub Bishara was nominated as the first secretary-general. Leaders of the Arab World welcomed the formation of the GCC. Klibi lauded the role played by Sheikh Zayed in the formation of the council and in supporting the cause of the Arab world. He also underscored the continuing call for united efforts on the economic, political, technological and military fronts.
News18
19-05-2025
- News18
5 Affordable International Getaways For Indians In 2025 That Won't Break The Bank
Last Updated: Take a look at some budget-friendly international destinations for Indian travellers that offer a blend of great experiences and views. The summer season is the perfect time to treat yourself to an international getaway. From crystal-clear beaches, cultural adventures, or breezy mountain retreats abroad, an international holiday will rejuvenate your mind and clear your head from the daily grind. However, the biggest problem when planning an international holiday is the rising cost of tickets and other expenses. Skyscanner's Wanderlost 2025 report reveals that budget-friendly travel is a top priority for Indian tourists. Roughly 31% of Indian travellers are drawn to destinations known for being affordable, and nearly 23% say they're influenced by finding the cheapest places to explore. In fact, high travel costs were a major deterrent in 2024, with 32% of respondents stating it was the main reason they took fewer vacations. Based on airfare data, here are five international destinations that offer excellent value for money, as highlighted by Skyscanner. Kuala Lumpur, Malaysia According to Skyscanner, one-way flight fares from India to Kuala Lumpur, Malaysia in 2025 start at an average of Rs 17,425. Discover iconic landmarks like the Petronas Twin Towers and Batu Caves, admire colonial architecture at Independence Square, and explore the vibrant Thean Hou Temple. For shopping and local flavours, visit the bustling Central Market and street food havens in Jalan Alor. Abu Dhabi, UAE As per Skyscanner, the average one-way airfare from India to Abu Dhabi, UAE, in 2025 begins at Rs 22,588. When in Abu Dhabi, do not miss the stunning Sheikh Zayed Grand Mosque, admire world-class art at the Louvre Abu Dhabi, and experience luxury at Emirates Palace. Adventure seekers can head to Yas Island for thrilling attractions, while history enthusiasts can tour the majestic Qasr Al Watan, the Presidential Palace. As per Skyscanner, one-way flights from India to Phnom Penh, Cambodia, in 2025 start at an average price of Rs 12,262. You can explore Cambodia's rich history at the Royal Palace and the National Museum, or take a reflective walk through the Killing Fields and the Tuol Sleng Genocide Museum. Stroll along the riverside promenade, shop for local crafts at the Russian Market, and indulge in authentic Khmer cuisine at bustling street food spots. Don't miss a sunset cruise on the Mekong River for a scenic end to your day. Muscat, Oman According to Skyscanner, the average one-way airfare from India to Muscat, Oman, in 2025 starts at Rs 22,588. In Muscat, soak in the architectural beauty of the Sultan Qaboos Grand Mosque, shop for local treasures at Mutrah Souq, and enjoy a performance at the Royal Opera House Muscat. Relax on the shores of Qurum Beach and visit the regal Al Alam Palace for a glimpse into Oman's royal heritage. Davao City, Philippines As per Skyscanner, the average one-way flight fare from India to Davao City, Philippines, in 2025 starts at Rs 23,557. Explore the Philippine Eagle Centre to see the rare and majestic national bird up close, hike the scenic trails of Mount Apo, the country's highest peak, unwind at Malagos Garden Resort, and visit the Davao Crocodile Park for a family-friendly wildlife experience. First Published: May 19, 2025, 13:46 IST
