MUSCAT: Top government officials have applauded the importance of the Governorates Economic Forum 2024, organised by the Ministry of Economy on Wednesday, as a powerful platform to channel investment into the country’s governorates based on their differentiated strengths and advantages.
Mohammed bin Sulaiman al Kindi, Governor of North Al Batinah, said the Governorates Economic Forum 2024, demonstrated the Omani government’s commitment to implementing the priorities of Oman Vision 2040 related to activating decentralization, developing governorates, and diversifying sources of income. North Al Batinah Governorate is emblematic of the multitude of investment opportunities that have been effectively leveraged to drive its growth, he noted.
Speaking at the forum, Al Kindi stressed the importance of capitalizing on the comparative advantages of the governorate, which includes global infrastructure such as the port and free zone of Suhar, airport, industrial zones and land borders with sister countries. He also pointed to the competitive advantage that the governorate enjoys in the mining sector, where data indicates positive signs for it in the coming period, which strengthens the governorate’s position as an important economic center in the Sultanate of Oman.
The Governor further explained that the governorate’s contribution to non-oil activities in the gross domestic product exceeded RO 4.3 billion by the end of 2022, with a growth rate of 16%. Efforts are ongoing to increase the contribution of non-oil sectors to the GDP by attracting local and foreign investments, he said.
Dr Nasser bin Rashid al Maawali, Under-Secretary of the Ministry of Economy, stressed the main objectives of the forum focused on initiatives and policies to support the diversification of the economy in the governorates. The event also served as a platform for dialogue and collaboration to enhance capabilities, in addition to increasing competitiveness in line with Oman Vision 2040.
The launch of the Governorates Competitive Index, he said, will help identify development gaps and enable decision-making based on data and information. It will also play a role in promoting governorate tourism initiatives to enhance local tourist destinations, promote local content, and contribute to sustainable development.
He added that there is great momentum in the development of the governorates, pointing to the improving indicators that assess economic, social and human development, which reflect the efforts made to achieve comprehensive development and improve the quality of life for citizens in the various governorates.
Oman Observer is now on the WhatsApp channel. Click here
