Economic forum discusses Oman’s horizons, prospects

MUSCAT: The 6th version of Al Roya Economic Forum themed “Oman and the Economy of the Future”, reviewed horizons and prospects of the Omani economy, features of Oman Vision 2040 and the economies of the 4th Industrial revolution. The forum was opened under the auspices of Sayyid Taimur bin Asaad al Said.
Talal bin Suleiman al Rahbi, Deputy Secretary-General of the Supreme Council for Planning, delivered a speech where he highlighted the major forecasts of the national economy, the expected challenges that may face the development plans and the government programmes to address these challenges.
On his part, Hatem bin Hamad al Ta’eei, Editor-in-Chief of Al Roya, General Supervisor of the Forum, said that the 2017 Forum focuses on forecasting the Omani economy to go beyond the immediate solutions, especially the challenges for oil price drop.
The Forum seeks to forecast the condition of the Omani economy after 20 years from now as this will help us to have a clear picture about our future.
The Forum included a number of working papers and panel discussion at which a number of academicians, economy experts and CEOs of some public companies took part.
It should be noted that Al Roya Forum, which was launched in 2012, aims at enhancing the role of journalism and media in focusing on the development issues that are directly linked to society. It also seeks to develop low-risk economic strategies and multiple solutions.
The forum came up with a number of recommendations, including developing a national strategy to promote innovation. This strategy includes phased out plans to spread industrial smartness culture and encourage students for smart-based innovation.
The Forum stressed that early forecasting of the national economy helps in developing the economic system to keep pace with the future developments, changes and early detection of challenges and opportunities in the future. This early detection helps in turning challenges into real benefits for comprehensive and sustainable development.
The forum stressed the need to continue communications with those involved in Tanfeedh labs to benefit from their experience. It also stressed the need to issue regular reports and updates on the progress made in implementing Tanfeedh initiatives.— ONA