A framework for safeguarding sustainable development
Published: 07:05 PM,May 04,2026 | EDITED : 11:05 PM,May 04,2026
Safeguarding and protecting citizens, residents and investors is a fundamental responsibility of the state. This includes ensuring security from natural and human-made risks, protecting assets and economic activities and maintaining a stable and trusted environment that supports sustainable development and economic growth.
The Sultanate of Oman is strategically located in the southeastern part of the Arabian Peninsula, overlooking the Indian Ocean and the Arabian Sea. Its position near the Tropic of Cancer contributes to its unique geographic and climatic diversity. The country is characterised by varied topography, including coastal areas, plains, mountains and valleys, which has influenced the distribution of population and economic activities. Most of the population resides along the coast, in valleys and on mountain slopes, engaging in fishing, trade, agriculture, livestock rearing and various professions across both the public and private sectors. This diversity has contributed to a balanced socio-economic structure and supported national development efforts.
Non-oil GDP has shown steady growth despite fluctuations, at times exceeding 30% of total economic output. Key sectors such as agriculture, fisheries and livestock play a significant role within the frameworks of the green and blue economy, reinforcing economic diversification. To safeguard these achievements, there is a growing need to strengthen risk management and insurance systems, while drawing on international best practices that promote resilience, growth and long-term sustainability across short-, medium- and long-term horizons.
In this context, the Oman Chamber of Commerce and Industry, through its Finance & Insurance and Food Security Committees, intensified efforts during 2018–2022 to develop the infrastructure needed to support the national economic vision. This included collaboration with insurance and reinsurance companies to design specialised products such as agricultural insurance, insurance for fishing boats and equipment, livestock insurance and poultry farm insurance.
These initiatives were further strengthened through coordination with relevant government entities, including the Ministry of Agriculture, Fisheries and Water Resources; the Ministry of Transport, Communications and Information Technology; the Financial Services Authority; the Royal Oman Police (Coast Guard); farmers’ and fishermen’s associations; the Central Bank of Oman; the Development Bank; and specialised private sector providers.
The success of these efforts depends on developing qualified national human capital capable of meeting the requirements of sustainable development and achieving future strategic objectives.