As Omanis, National Day is never only about parades, fireworks and flags. It is a moment when a nation pauses, looks back with gratitude and pride; and looks forward with responsibility and purpose.
This year, as we mark 281 years since the founding of The Al Busaid State, we are not just celebrating a date. We are celebrating a unique Omani “recipe” for stability, wisdom and balanced progress — a recipe that the world increasingly needs and which we must now apply with even greater focus to our economic future under Oman Vision 2040.
The story began in 1744, when Imam Ahmed bin Said laid the foundations of a unified, stable Omani state. Over nearly three centuries, this continuity has protected Oman from many of the waves of turmoil that have swept across the region. Our institutions have evolved, but the core values have remained constant: justice, moderation, consultation and a quiet determination to protect national unity and dignity.
Our identity, with its deep culture of tolerance and coexistence; and our maritime heritage, through which Oman engaged peacefully with Africa, Asia and beyond, have given us a national character that believes in dialogue, partnership and openness to the world.
Today, this 281-year legacy is more than something to remember; it is a strategic asset. It is why Oman is trusted as a neutral mediator. It is why investors see our country as a safe, predictable place to build long-term partnerships. And it is why Oman Vision 2040 is not just an economic document, but the latest chapter in a long national journey that links stability with progress.
There is, however, another “281” that we must reflect on during this year’s celebrations. In early 2024, net gas revenues reached RO 281 million — almost half the level of the previous year, due to market conditions and structural adjustments.
That single number is a quiet but powerful message: even with all our strengths, an economy that leans too heavily on hydrocarbons will always be vulnerable to forces beyond our control. Our legacy can protect us from political shocks, but it cannot shield us from the volatility of global commodity prices. Only diversification can do that.
The good news is that the foundations of diversification are already being laid with seriousness and discipline. Under the leadership of His Majesty Sultan Haitham bin Tarik, the “Renewed Renaissance” is turning the principles of Oman Vision 2040 into concrete reforms and projects. Our ports and free zones in Al Duqm, Suhar and Salalah are being transformed into gateways for global trade and manufacturing.
Our ranking in innovation and e-government has improved noticeably, reflecting real progress in digital transformation. Tourism strategies are shifting from short-term volume to long-term value, focusing on heritage, nature and culture. And through the Oman Investment Authority, the wealth of today is being split wisely between a Future Generations Fund that protects tomorrow and a National Development Fund that invests in new sectors today.
But if we want this journey to truly succeed, we must consciously apply the Omani “recipe” to our economic decisions, just as our forefathers applied it to governance and diplomacy.
First, long-term thinking must guide our choices. Our 281-year story tells us that real strength comes from patience, consistency and planning across generations. Diversification cannot be a slogan that rises when oil prices fall and fades when prices recover.
It must be treated as a permanent national priority, protected from short-term pressures. That means maintaining fiscal discipline, continuing to reduce debt in good years and channelling surpluses into productive assets, skills and technology rather than consumption.
Second, we must place people at the heart of the diversification project. Ports, industrial zones and tourism complexes are only as strong as the Omanis who run them. The future economy will require skills in logistics management, data science, renewable energy, hospitality, creative industries and advanced manufacturing.
Investing in our youth — in their education, training, language skills and entrepreneurial mindset — is the most effective way to turn Oman Vision 2040 into lived reality. When a young Omani feels that the new sectors emerging around them offer real opportunities for meaningful work and dignified income, then diversification becomes a social success, not just an economic statistic.
Third, we must empower the private sector as a true partner, especially small and medium enterprises. The state can build roads, ports and digital platforms, but it is entrepreneurs who will fill them with ideas, products and services.
Our “Omani recipe” values trust, partnership and fairness; this should translate into clear, predictable regulations, efficient government services and financing tools that allow serious investors — local and foreign — to take risks and grow. If every major project consciously creates space for Omani SMEs in its supply chains, training pipelines and ownership structures, the benefits of diversification will spread more widely and sustainably.
Fourth, we must continue to use our soft power and balanced foreign policy as economic tools. Oman’s reputation as a nation of dialogue and moderation is not only morally valuable; it is economically valuable. It attracts partners who are looking for stability in an unstable world. By aligning our neutrality with smart sector strategies — in green energy, logistics, food security, culture and research — we can position Oman as a regional hub where ideas, capital and talent feel at home.
As we celebrate National Day and the 281-year legacy of The Al Busaid State, it is worth remembering that our forefathers built Oman’s influence through trade, navigation and wisdom long before the discovery of oil and gas. In that sense, diversification is not something new; it is a return to our authentic economic DNA, updated for a more complex and competitive world.
The real question, then, is not whether Oman can diversify. History has already answered that. The question is how quickly and how wisely we can do it now — so that the stability we inherited becomes prosperity we deliver.
On this National Day, let us celebrate with joy and gratitude. But let us also renew a quiet national promise: that we will use our 281-year recipe — our stability, our values, our openness and our unity — to build an economy that creates wealth, decent jobs and genuine happiness for every Omani, today and for generations to come.
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