Looking forward with Vision 2040
Published: 04:01 PM,Jan 10,2025 | EDITED : 10:01 AM,Jan 20,2025
Oman’s Growth Strategy is based on the Vision 2040, which seeks to overcome challenges, keep pace with regional and global changes, generate and seize
opportunities to foster economic competitiveness and social well-being and stimulate growth
It seeks to develop a favorable environment to attract talent in the labor market by encouraging a competitive business climate, comprehensive regional development
through decentralization of the governorates.
Smart and sustainable cities will be built with advanced IT infrastructure, and socio-economic prosperity and social justice will be nurtured in urban and rural communities.
The 10th Five-Year Development Plan (2021-2025)
The 10th Five-Year Development Plan (2021- 2025) is the first executive plan for Oman Vision 2040 which identified the national priorities and strategies over the coming two
decades. The plan was guided by an assessment of earlier achievements, strategies, plans, and research that were developed by different State units. The Plan focuses on
promoting sustainable human development, preserving human capital, stimulating economic activity in partnership with the private sector and supporting the role of small
and medium enterprises, expanding the base of economic diversification and developing productive structures mechanisms and programs, developing the
macroeconomic environment achieving fiscal sustainability and a balanced development for the governorates.
It seeks to provide suitable job opportunities for Omanis, achieve growth sustainability (not reliant on government spending or depleted resources) and promote the growth of
other sectors.
National priorities
To develop inclusive education, scientific Research for a knowledge-based Society and a system that empowers human capabilities in the educational sector.
An inclusive and equitable healthcare system should cover all governorates, with the participation of government, the private sector, and civil society. This coverage should
include more medical specialties.
Achieving decent living standards and sustainable well-being requires the creation of an environment conducive to social responsibility programmes, voluntary contributions, as
well as socio-economic empowerment programs targeting women and youth and grooming a leadership that can steer the national economy.
Net Zero target
Oman has announced its commitment to achieve net zero emissions by 2050, in line with the Paris Climate Agreement’s objective of limiting global climate change to below
1.5C compared to pre-industrial levels. The pathway to net zero involves full electrification of light vehicles and short-distance heavy vehicles and a transition to hydrogen fuel cells for long-distance heavy vehicles. Behavioral changes such as increased use of public transit and car-pooling are expected to reduce car usage resulting in 10% lower emissions.
By 2050, Oman could become self-sufficient in power and hydrogen, using hydrocarbons during the transition. However, an orderly transition also implies a greater
dependency on several imported clean technologies and materials, e.g., batteries, electric vehicles, and rare earth metals.
opportunities to foster economic competitiveness and social well-being and stimulate growth
It seeks to develop a favorable environment to attract talent in the labor market by encouraging a competitive business climate, comprehensive regional development
through decentralization of the governorates.
Smart and sustainable cities will be built with advanced IT infrastructure, and socio-economic prosperity and social justice will be nurtured in urban and rural communities.
The 10th Five-Year Development Plan (2021-2025)
The 10th Five-Year Development Plan (2021- 2025) is the first executive plan for Oman Vision 2040 which identified the national priorities and strategies over the coming two
decades. The plan was guided by an assessment of earlier achievements, strategies, plans, and research that were developed by different State units. The Plan focuses on
promoting sustainable human development, preserving human capital, stimulating economic activity in partnership with the private sector and supporting the role of small
and medium enterprises, expanding the base of economic diversification and developing productive structures mechanisms and programs, developing the
macroeconomic environment achieving fiscal sustainability and a balanced development for the governorates.
It seeks to provide suitable job opportunities for Omanis, achieve growth sustainability (not reliant on government spending or depleted resources) and promote the growth of
other sectors.
National priorities
To develop inclusive education, scientific Research for a knowledge-based Society and a system that empowers human capabilities in the educational sector.
An inclusive and equitable healthcare system should cover all governorates, with the participation of government, the private sector, and civil society. This coverage should
include more medical specialties.
Achieving decent living standards and sustainable well-being requires the creation of an environment conducive to social responsibility programmes, voluntary contributions, as
well as socio-economic empowerment programs targeting women and youth and grooming a leadership that can steer the national economy.
Net Zero target
Oman has announced its commitment to achieve net zero emissions by 2050, in line with the Paris Climate Agreement’s objective of limiting global climate change to below
1.5C compared to pre-industrial levels. The pathway to net zero involves full electrification of light vehicles and short-distance heavy vehicles and a transition to hydrogen fuel cells for long-distance heavy vehicles. Behavioral changes such as increased use of public transit and car-pooling are expected to reduce car usage resulting in 10% lower emissions.
By 2050, Oman could become self-sufficient in power and hydrogen, using hydrocarbons during the transition. However, an orderly transition also implies a greater
dependency on several imported clean technologies and materials, e.g., batteries, electric vehicles, and rare earth metals.