RO10 million each for governorates
Published: 06:10 PM,Oct 14,2021 | EDITED : 10:10 PM,Oct 14,2021
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Muscat: In implementation of the Royal directives of His Majesty the Sultan to allocate RO 10 million for each governorate during the 10th Five Year Plan (2021-2025), the Ministry of Economy on Thursday organized a meeting with governors to discuss the “Governorates Development Programme”.
As part of the programme, the sum will be expended at a rate of RO 2 million each year to spur development of each governorate.
Dr Nassir Rashid al Maawali, Ministry of Economy Under-Secretary, said that the Governorates Development Programme, initiated by the Ministry, seeks to empower governorates, contribute to the process of decentralization and achieve balanced domestic development.
A presentation by Said Rashid al Qatabi, Director-General of Social Sectors at the Ministry, outlined the Governorates Development Programme. During the screening, Al Qatabi reviewed parameters to be considered when implementing the programme.
In another presentation, Intisar Abdullah al Wahaibi, Director-General of Planning at the Economy Ministry, spoke about the strategic programmes of priority in developing governorates and sustainable cities within the 10th Five Year Plan.
Towards the conclusion of the meeting, the governors exchanged views about the programme and reiterated the significance of drafting annual plans for the respective governorates. They also discussed some proposals to address challenges facing the governorates during the programme’s implementation.
The meeting was attended by Abdullah Salim al Harthy, Under-Secretary of the Ministry of Finance, and Sayyid Khalifa Al Murdas al Busaidy, Secretary-General of Governorates’ Affairs, among other officials.
The 10th Five Year Plan mostly draws from Oman Vision 2040. It targets the setting up necessary infrastructure for the acceleration of private investment and the execution of major strategic projects and public-private sector partnership projects, as well the attraction of direct foreign investment.
The plan bets on on the participation of governorates in the achievement of Oman 2040 vision’s goals.
At the end of plan period, the economy is expected to grow Gross Domestic Product not less than 3.5 per cent as well as realising 5.5 per cent growth rate by current prices. It also targets increasing investment rate to 27 per cent of the GDP, attracting more direct foreign investment in oil and non-oil sectors to 10 per cent of the GDP, raising the contribution of the private sector in investment to 60 per cent in average, in addition to achieving the growth of non-oil activities by an average of 3.2 per cent. -- ONA
As part of the programme, the sum will be expended at a rate of RO 2 million each year to spur development of each governorate.
Dr Nassir Rashid al Maawali, Ministry of Economy Under-Secretary, said that the Governorates Development Programme, initiated by the Ministry, seeks to empower governorates, contribute to the process of decentralization and achieve balanced domestic development.
A presentation by Said Rashid al Qatabi, Director-General of Social Sectors at the Ministry, outlined the Governorates Development Programme. During the screening, Al Qatabi reviewed parameters to be considered when implementing the programme.
In another presentation, Intisar Abdullah al Wahaibi, Director-General of Planning at the Economy Ministry, spoke about the strategic programmes of priority in developing governorates and sustainable cities within the 10th Five Year Plan.
Towards the conclusion of the meeting, the governors exchanged views about the programme and reiterated the significance of drafting annual plans for the respective governorates. They also discussed some proposals to address challenges facing the governorates during the programme’s implementation.
The meeting was attended by Abdullah Salim al Harthy, Under-Secretary of the Ministry of Finance, and Sayyid Khalifa Al Murdas al Busaidy, Secretary-General of Governorates’ Affairs, among other officials.
The 10th Five Year Plan mostly draws from Oman Vision 2040. It targets the setting up necessary infrastructure for the acceleration of private investment and the execution of major strategic projects and public-private sector partnership projects, as well the attraction of direct foreign investment.
The plan bets on on the participation of governorates in the achievement of Oman 2040 vision’s goals.
At the end of plan period, the economy is expected to grow Gross Domestic Product not less than 3.5 per cent as well as realising 5.5 per cent growth rate by current prices. It also targets increasing investment rate to 27 per cent of the GDP, attracting more direct foreign investment in oil and non-oil sectors to 10 per cent of the GDP, raising the contribution of the private sector in investment to 60 per cent in average, in addition to achieving the growth of non-oil activities by an average of 3.2 per cent. -- ONA