Friday, March 29, 2024 | Ramadan 18, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

5 per cent rise in non-oil sector share in GDP

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MUSCAT: The contribution of non-oil sector to GDP in the third quarter of 2017 grew five per cent compared with the same period in 2016, reflecting the private sector’s growth potential, Sayyid Khalid bin Hilal al Busaidy, Minister of the Diwan of Royal Court, has said.


Speaking at the Oman Business Forum, organised by the Diwan of Royal Court on Wednesday, Al Busaidy said the forum aimed at presenting a “macro-picture about public-private partnership (PPP). The forum is an effort to strengthen the partnership between public and private sectors, which has received great attention from His Majesty Sultan Qaboos.


He said the forum encompasses themes that emphasise His Majesty the Sultan’s blessings and support for PPP. Participants will highlight the role played by private sector in the development process.


“PPP has been accorded importance by His Majesty the Sultan as the socio-economic development relies on the accumulation of all community potentials, including capacities, resources and expertise available in the public and private sectors,” he said.


The minister said the launch of public and private partnership team comes in response to the Royal orders of His Majesty the Sultan in April 2013.


The team, guided by the Royal directives, has made much headway in activating the role of the private sector in the development process.


He affirmed that PPP aims at achieving and enhancing the development process.


Thanks to His Majesty’s continuous care, the team has achieved the aims set for it by adopting a four-pronged parallel approach that enhances the common platforms for dialogue among private and public sectors and enhancing their mutual confidence.


He said the second theme focused on national initiatives for building capacities in the private and public sectors.


To this end, he said the National CEOs Programme has been launched to develop expertise of trainees and provide them with the necessary skills and knowledge.


The National Leadership and Competitiveness Programme was launched to improve the skills of under-secretaries and executive managers and help them provide a conducive work environment for PPP and enhance competitiveness in the Sultanate.


He said the third theme focuses on enhancing business environment.


The representatives of the private sector who are members of the partnership team joined hands with a number of public sector organisations to address challenges facing the private sector.


He said the fourth theme covers the efforts made to build a mechanism to finance projects by the public and private sectors.


A joint team and a draft law for partnership has been made to allow for establishing an agency with the required powers to ensure taking quick decisions and approving the partnership agreements.


An agency for partnership has been established and provided with the necessary powers to float and award tenders to the private sector.


Dr Ali bin Qassim bin Jawad, Adviser of Studies and Researches at the Diwan of Royal Court, said the forum encourages sharing of views and launching initiatives that enhance growth.


It will also enhance association with the regional and international organisations which will enhance economic competitiveness in the Sultanate.


He said the forum sessions have been designed to ensure benefiting from international experience in meeting the national needs.


The forum is looking at new ways of enhancing PPP to support the efforts made by the government in various fields.


Experts taking part in the forum will highlight the changes, challenges and opportunities that the Sultanate can benefit from.


Speaking on the occasion, Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry, said the forum is the outcome of the joint work between public and private sectors.


He said Oman is “passing through an important stage of economic diversification as construction at the key ports has been completed and they are operating efficiently”. The new terminal at Duqm will be opened soon.


The passenger terminal at Sohar Airport will also be completed soon and will be ready to receive international flights.


He pointed out that the Sultanate continues with the construction of main roads despite the current economic conditions.


The focus is on maintaining the RO 5.5-billion contribution from the industry sector to the GDP.


The sector, which is operating efficiently, is benefiting from suitable gas prices. The key tourism projects include Mina Sultan Qaboos, a joint Omani-Gulf ventures, he concluded.


The forum includes a number of working papers on the four themes — ‘The horizons of the present and the changes of the future’, ‘4IR and available opportunities for governments and business community and its effect on the Sultanate’, ‘The opportunities for growth and the role of partnership between the private and public sectors’, the ‘Investment opportunities in light of the belt-and-road initiative and others — the Special Economic Zone in Duqm (SEZD) as a model’.


— ona


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