What are the key sectors targeted for development in Oman Vision 2040

Introduction

Oman Vision 2040 targets several key sectors for development as part of its strategy to diversify the economy and reduce reliance on oil revenues. The main sectors identified for growth and investment include:

Priority Sectors

Manufacturing

Focus on innovative practices and state-of-the-art technologies

Establishment of a pharmaceutical and biologics center in the Salalah Free Zone

Development of industrial cities and specialized industrial complexes

Tourism

Leveraging Oman’s diverse landscapes and historical sites

Developing infrastructure to attract more international visitors

Transport and Logistics

Expanding transportation networks

Development of Duqm port and Khazaen Economic City

Implementation of new logistics systems for efficient goods transportation

Mining

Exploration and development of mineral resources

Agriculture and Fisheries

Emphasis on food security

Development of the fishing industry for domestic needs and exports

Additional Focus Areas

Renewable Energy

Promoting sustainable energy solutions

Technology and Innovation

Fostering a knowledge-based economy

Implementing smart city initiatives and digital connectivity

Education and Human Capital Development

Improving education quality and access to lifelong learning

Enhancing skills and knowledge through digital literacy programs

Conclusion

By focusing on these sectors, Oman aims to create a diversified, sustainable, and knowledge-based economy, reducing its dependence on oil and fostering innovation and competitiveness