Contemporary issues top on ICEDD agenda

By Kaushalendra Singh — SALALAH: April 23 – International experts, policymakers, renowned academics, research scholars and successful entrepreneurs are gathering in Salalah to take part in International Conference on Economic Development and Diversification (ICEDD) 2017. Covering contemporary issues, strategies and opportunities for sustainable development in the Sultanate, the conference is to be held on April 26 and 27. The ICEDD conference host is College of Applied Sciences (CAS) Salalah. According to the event organisers, “The conference will address the issues, strategies and opportunities related to Oman’s ambitious targets to diversifying the economy from fossil fuels into more sustainable areas such as SMEs, foreign direct investment (FDI), tourism and hospitality, human capital development and manufacturing export.”
The conference will throw light on current best practices in diversification policies and strategies and foresee the necessary solutions for the future. International experts, policymakers, renowned academics, research scholars and successful entrepreneurs are to take part in the conference.
In the wake of falling oil prices there has been demand for investment in non-oil sectors to achieve sustainable growth. The conference thus would discuss the importance of developing a non-oil economy to achieve a sustainable growth “that can bring out a valuable reference source from the development and policy-making point of view.”
991977The expert papers would also highlight Oman’s economic achievements and challenges. Evolving as a leading economy in the Middle East, the country’s human development indicators are in the positive side. “An approach shift is necessary to cut down the excessive reliance on oil resources in the wake of declining oil prices. The conference is an attempt to explore those areas and let the participants benefit from new resources and new business opportunities,” said a member of the conference’s organising committee.
Stating its importance, an introductory document of conference said: “As the threat of recession is looming large due to the declining trend in oil prices as well as due to the depleting nature of this finite resource, the prevailing growth model of the Gulf Cooperation Council (GCC) countries with excessive reliance on oil resources started revealing its limitation; and that demands inevitable and instantaneous diversification of the economy. Attempts for economic diversification have already begun in the GCC countries and in Oman, a country with immense growth potentials.”
Keeping in view of the economic diversification programme of Oman, Salalah College of Applied Sciences proposes to gather the intelligentsia and practitioners under one roof in order to have serious deliberations on contemporary issues, strategies and opportunities for sustainable development in Oman, from the perspective of economic development and diversification, the document said.
The objectives of the conference, according to the organisers, are to provide a platform and to stimulate discussion on economic diversification issues, strategies and best practices; to bring together researchers, academicians, industry practitioners and entrepreneurs to exchange and share their experiences and knowledge.
This is also aimed at providing valuable inputs to planners, policymakers and developers so as to consider them while making growth and development strategies for the country.
The conference would have keynote addresses, oral presentations, poster presentations, workshops and tutorials.