Oman, 5 March, 2025 : Muscat – As global economic conditions shift, Oman is navigating challenges with a strategic, multi-dimensional approach known as the "7 C’s Compass." This framework highlights key areas driving the nation’s economic transformation, aligned with Oman Vision 2040.
Connectivity: Oman’s strategic location at major trade routes is strengthened by investments in ports, airports, and digital infrastructure, positioning the country as a regional hub for trade and data economy.
Commerce: Economic diversification is advancing through fisheries, agriculture, sustainable tourism, logistics, renewable energy, and specialised manufacturing. Special economic zones are fostering business growth, with non-oil sectors showing positive momentum.
Collaboration: Oman leverages public-private partnerships and international alliances, particularly in renewable energy and industrial development, reinforcing its diplomatic reputation.
Capital: Investment-friendly policies, responsive regulations, and sustainable finance mechanisms support economic transformation, while the financial sector plays a key role in mobilising resources.
Capability: Educational initiatives and vocational training align with economic priorities, preparing Omanis for leadership in emerging sectors, especially in digital and technical fields.
Culture: Oman balances innovation with heritage, supporting entrepreneurship and cultural industries. The country’s rich history enhances tourism and creative sectors, creating a unique market advantage.
Certainty: Effective governance and stable legal frameworks provide economic confidence. Digital government initiatives are improving efficiency, transparency, and investor confidence.
This holistic strategy fosters a resilient economy by integrating sustainability, digitalisation, and diversification. Oman’s approach serves as a model for resource-based economies aiming for long-term stability and growth.
Source : www.zawya.com
