Oman’s Vision 2040: Strengthening Trade Through Economic Corridors

Oman, 19 March, 2025 :  Oman is tapping into its historic role as a maritime hub by developing modern economic trade corridors to stimulate growth, regional integration, and global trade. These corridors, integrating infrastructure, trade, investment, and policies, are designed to connect production centers with demand hubs, fostering broader economic development.

As global trade dynamics shift, Oman’s Vision 2040 places economic corridors at the heart of its diversification strategy. The country is leveraging its strategic position at the crossroads of Asia, Europe, and Africa to build vital trade links.

Key initiatives include the Oman-UAE corridor, highlighted by the $2.5 billion Hafeet Rail project, which will connect Sohar Port to Abu Dhabi. This will cut transportation times, reduce logistics costs, and create thousands of jobs.

The Oman-Saudi corridor, anchored by the Economic Zone at Al Dhahirah (EZAD), focuses on manufacturing, logistics, mining, and renewable energy, aiming to transform remote areas into economic hubs. The project is backed by a $1.2 billion investment.

The Oman-India corridor, with a trade value of $8.947 billion in 2023-24, is developing through joint ventures in sectors like renewable energy, green hydrogen, and technology. The Duqm Special Economic Zone plays a central role in attracting Indian investments.

An emerging Oman-East Africa Maritime Corridor is also in development, using Salalah Port to connect Oman with East Africa. The corridor aims to enhance trade with Kenya, Tanzania, and Ethiopia, focusing on logistics and agricultural investments.

These corridors improve trade efficiency, attract foreign investment, and create jobs, driving Oman’s economic growth and enhancing its global competitiveness.