Oman Targets 10% GDP Contribution from Digital Economy by 2040

Oman, 29 May, 2024 :  HH Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports, and Youth, launched the 33rd COMEX Global Technology Show 2024 at the Oman Convention and Exhibition Centre on Monday. The four-day event features over 100 local and international firms.

Organized by Aldar Al Arabiya Company in collaboration with the Ministry of Transport, Communications and Information Technology, COMEX aims to enhance digital investment and showcase the latest technologies.

Dr. Ali Amer Al Shidhani, Undersecretary of the Ministry for Communications and Information Technology, highlighted the goal of increasing the digital economy's contribution to Oman’s GDP from 2% to 10% by 2040. Since the launch of the National Programme for Digital Economy, investments in the sector have surpassed OMR 1 billion ($2.5 billion).

The investments focus on communications technologies, data storage, cybersecurity, artificial intelligence, space technology, and semiconductors. Dr. Al Shidhani noted that the value of agreements and projects announced at COMEX 2024 is 60% higher than in 2023, reaching OMR 60 million.

During the opening ceremony, several agreements were signed, involving companies specializing in digital transformation and technical infrastructure development. These initiatives are part of efforts by the Oman Investment Authority to bolster the digital economy. The event was attended by ministers, council members, and business leaders.

Source : www.timesofoman.com