Muscat – Oman Vision 2040 Implementation Follow-up Unit has released its third annual report, highlighting substantial advancements made by government agencies across various economic and development sectors in 2023.

The report focuses on the labour market and employment, which saw numerous legislations being issued aimed at enhancing the efficiency of the labour market and increasing Omanisation and productivity. As a result, the number of Omanis employed in public and private sectors grew 6.4%.

Oman has also made notable progress in international rankings, improving its position in the Economic Freedom Index by 39 places to rank 56th globally. Additionally, the sultanate climbed 27 spots in the Entrepreneurship Index to 11th place and advanced to 50th in the Environmental Performance Index.

In the education sector, Sultan Qaboos University significantly improved its global ranking by 92 positions to 362nd.

Dr Khamis bin Saif al Jabri, Chairman of the Follow-up Unit, stated, “This annual report is a vital tool for monitoring and documenting government agencies’ progress, linking their efforts directly to the objectives of Oman Vision 2040.”

The report documents the establishment of approximately 60 offices dedicated to Oman 2040 Vision in the government sector aimed at facilitating knowledge transfer and ensuring ongoing support for implementation. It includes the evaluation of 65 higher education institutions and details of funding for 314 research projects, highlighting commitment to quality education.

In the health sector, significant investments were announced for 2024, including the establishment of 15 pharmaceutical factories and renovation of healthcare facilities.

Cultural preservation efforts are detailed in the report, including initiatives to establish new museums and modernise existing ones, such as the Maritime History Museum and Sohar Fort Museum.

The report details programmes for economic empowerment, including the Maksab and Joud platforms which support over 1,700 productive families, and initiatives for sustainable economic growth that are underway focused on enhancing governance and management capabilities within government agencies.

On economic diversification, the report notes a reduction in the public debt-to-GDP ratio to 35%, a budget surplus, increased efficiency in government spending, and an improved credit rating. The government has broadened the investment landscape, offering over 1,700 economic activities for 100% ownership and incentives for small and medium enterprises.

Environmental initiatives are also highlighted in the report, including establishment of new nature reserves and more air quality monitoring stations, reflecting Oman’s commitment to environmental stewardship.

An annual monitoring project for marine pollutants indicates a decline in pollution levels, with marine environment quality indicators surpassing set targets. Compliance rates in inspection reports have reached 100%, alongside full adherence to safety measures against radioactive pollutants.

Additionally, the report outlines advancements in managing government projects and legislative oversight, introducing new guides and frameworks to enhance governance practices. By the end of 2023, the total number of small and medium enterprises was 240,000, up 8.7%, employing 185,000 Omanis. The Promising Omani Startup Programme reported 116 startups, showcasing the vibrancy of the entrepreneurial ecosystem in the sultanate.