Private sector also needs to be part of change

rivate sector is one of the most important pillars of development in any country, including Oman. However, certain changes in this sector is always needed to meet the requirements of time, particularly when efforts are being made to achieve Oman’s Vision 2040.

The development of private sector as an active partner in the progress of the country is necessary for overall advancement. This is necessary for the fulfilment of our future aspirations. It requires complete changes in framework, legislation, work culture and its values and ethics. Certain practices have entered into our work culture which were alien to our society. It is important to fix them. Whatever we do there should be our own principles of doing it.

Today, there are 250,000 companies in the private sector in the country. They are in different fields and economic activities. This is considered another important arm of the state. At the time when the state is on the spree of structuring and re-structuring its working to make it more effective and meet the requirements of changing times, it should also look at the private sector so that the process of improvement and modernisation is complete. If the private sector is left behind in the process, we would feel walking with just one leg at the end.

If the changes are being brought, it should not remain confined to the government or public sector. The private sector is also part of the national service. It should also undergo the process of modernisation, restructuring and updating. This sector will play a pivotal role in the future. They should shoulder responsibilities as partners with the government in the development of the beloved country.

There is no denying that the state gives high regard to the private sector. However, it would be further encouraging and motivating for this sector if it also gets opportunities to participate in national celebrations and ceremonies.

The private sector can also be given a role in the process of formulation of rules and regulations related to it. It is either impossible or difficult and cumbersome task to implement a law on a sector which was not made a partner in its formulation or its opinion is not taken in this regard through Oman Chamber of Commerce and Industry (OCCI).

It is also important to empower the OCCI, by not limiting it just to be a representative of the private sector. Certain frameworks and legislations should be developed to help it participate in the areas concerned more effectively and become more productive. For example, it can play major role in attracting domestic and foreign investments.

Here, it is worth mentioning that the businessmen should run their business themselves rather than depending entirely on foreigners. This practice has distorted the image of this sector due to the behaviour of some expatriate workers.

The private sector must also be self-reliant. The people of the country should also help it in this process. The issue of social security affects all sectors and segments of the country. Therefore, there should be concerted efforts to accommodate the citizens.

We hope that there will be radical and real changes in the basic philosophy of the private sector. If these changes are brought in, they will coincide with the latest developments taking place in the country. The private sector is an integral part of the country, it cannot live without being affected by the changes taking place in the surroundings. Therefore, a well thought of restructuring and fresh rules and regulations are required to give it the right direction and make it a stronger partner in the process of the development of the country.