Muscat – The Oman-British Society (OBS) hosted a symposium on Thursday to explore the future of economic development, legal frameworks, and innovation in the sultanate. Titled ‘Unlocking Oman’s Future: Law, Trade, and Innovation in Action’, the event brought together economists, academics, policymakers, and business leaders to discuss strategies for fostering sustainable economic growth in Oman.

Key topics included legal reforms, trade facilitation, technological innovation, and renewable energy, with particular emphasis on the emerging green hydrogen sector.

Speaking at the opening of symposium, Saleh Zakwani, Chairman of the Oman-British Society, reaffirmed the Society’s longstanding role in strengthening the deep-rooted relationship between Oman and the United Kingdom. He noted that the Oman-British Society, founded in 1991, has consistently worked to deepen bilateral ties, particularly in trade, investment, and partnership development.

Zakwani underscored OBS’s focus on enhancing commercial and industrial cooperation and broadening collaboration in education, culture, tourism, and sports between the UK and Oman. “To advance these goals, the Society hosts meetings, seminars, lectures, and discussion forums, all aimed at nurturing friendship, trust, and mutual understanding between Oman and the UK,” he said.

He added that the Society’s influence is amplified by the calibre of its members, who are able to raise issues of public interest with decision-makers, thereby helping to facilitate greater trade and investment.

Haifa al Khaifi, Secretary General of the Oman-British Society, said, “It was an honour for the OBS to host this pivotal gathering, which brought together thought leaders and innovators to explore how law, trade, and innovation can unlock Oman’s vast potential. The event underscored the deep-rooted Omani-British partnership, with the UK now accounting for 51% of total foreign direct investment into Oman – a testament to our enduring trust and shared vision.”

She added that from green hydrogen to smart cities, Oman is charting a resilient, diversified future under Vision 2040. “I am proud to witness this momentum and remain committed to fostering meaningful connections that will shape a prosperous, collaborative future for Oman and its longstanding partners.”

The symposium provided a comprehensive overview of Oman’s steady transition towards a diversified, resilient, and investor-friendly economy in line with Vision 2040.

During the event, Mohammed al Hinai, a seasoned economic adviser specialising in trade, investment strategy, and economic development, spoke to Muscat Daily on the enduring strength of Omani-British relations. “Our cooperation spans sectors such as technology, energy, and mineral resources. British companies have long invested in Oman, and this trend continues to grow,” he said.

Hinai emphasised the UK’s position as a European technology hub, a role that benefits Omani companies by supporting their growth in both financial and technological domains. He described such symposiums as essential for reviewing progress and stimulating dialogue in key fields such as trade, innovation, and green energy.

Several speakers at the event highlighted the importance of innovation-driven policy, legal modernisation, and creating an enabling environment for start-ups and foreign investors. The role of academic and research institutions in supporting Oman’s shift towards a knowledge-based economy also emerged as a key theme.

In a detailed presentation, Alkesh Joshi, EY Oman Tax Leader and EY MENA Sustainability Tax Leader, outlined the country’s progress towards Vision 2040 goals, citing advances in diversification, fiscal stability, and investment attractiveness. He opened his address by stressing the importance of measuring Vision 2040 implementation through performance indicators. Joshi also pointed to Oman’s improved global rankings.

Highlighting Oman’s demographic strengths, Joshi remarked that 73% of the country’s 5.2mn population fall within the 15–50 age group, offering a vibrant talent pool and consumer base. On the macroeconomic front, he said Oman’s GDP performance remains competitive within the GCC, while public debt management has improved markedly.

The Oman-British Society symposium concluded with a panel discussion focusing on policy recommendations and collaborative efforts between Oman and the UK to accelerate economic diversification under Oman Vision 2040.