MUSCAT: As many as 19 developmental initiatives designed to strengthen the country’s financial sustainability, have been approved for implementation this year, according to Dr Said bin Mohammed al Saqri, Minister of Economy.
Speaking to the Observer, Dr Al Saqri said the projects will be implemented at a total cost of around RO 49 million. When operational, they will make a direct financial return to the public treasury, he stated.
Significantly, 11 of the initiatives pertain to the use of Artificial Intelligence in various economic and social sectors. Collectively valued at around RO 10 million, these projects aim to enhance financial sustainability by raising the efficiency of these sectors, as well as those targeted for economic diversification during the 10th five-year plan.
The Ministry, he said, has approved the allocations for the National Programme for Digital Transformation, which amounts to around RO 200 million till the end of the current plan. He added that an annual disbursement amount of about RO 33 million had been allocated for this year, stressing that the projects will enhance the financial sustainability of the state and contribute to the growth of the digital economy as well.
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