Oman Chamber of Commerce and Industry (OCCI) launched a forum in Muscat yesterday to address the business environment in the Sultanate of Oman.
A first of its kind, the three-day forum will aim to enhance the business climate in the country and boost its economic competitiveness, through various workshops and discussion sessions. The first day of the forum targeted executive directors of companies in the country.
Chairman of Oman Chamber of Commerce and Industry, Faisal bin Abdullah al Rawas, shared the following in his keynote speech: "The forum aims to review government efforts to improve the business environment, which will accelerate the development process of the Sultanate of Oman. It also aims to identify the views of the private sector on improving the level of services provided in order to achieve global competitive levels based on the Global Competitiveness Report issued by the World Economic Forum.” He added: “This will be achieved by involving representatives of the private sector in the decision-making process and the strategy formulation process to increase the effectiveness of government services.”
“The assessment of the Sultanate of Oman in international reports, will in return contribute to a catalytic business environment.”
Data Mining CEO Hamad al Musharifi defined the concept of competitiveness in his presentation. “It is the country's ability to make optimal use of its resources and institutions in order to raise the level of productivity and increase the efficiency of services provided to individuals and the business sector, thus contributing to achieving sustainable development and a resilient economy for the country, and placing it in an advanced competitive position.”
According to Al Musharifi, Oman ranked at 53rd in the Global Competitiveness Report issued by the World Economic Forum in 2019. “The report is a benchmark for the competitiveness of the macro and micro economy,” he said.
“It also demonstrates the degree to which the private sector is satisfied with government services, as well as the extent of the positive impact of the incentives and facilities provided by the government.” “In addition, it evaluates the state's ability to provide prosperity to its citizens, through its ability to make optimal use of its available resources and sets the stage for policy makers and other stakeholders to help craft and support economic strategies that drive growth.”
According to Al Mushraifi, the government seeks to raise its ranks in the index to be in the top 30 countries by 2030, and to be among the top 20 countries in 2040.
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