KUALA LUMPUR, Nov 18 (Bernama) -- The Sultanate of Oman celebrates its 53rd National Day on Saturday (Nov 18) with a commitment to achieving development goals and fulfilling the aspirations of its people for a prosperous future.
“Under the leadership of His Majesty Sultan Haitham bin Tarik, Oman has achieved significant milestones in social development, education, and politics,” said a statement issued to BERNAMA by the Embassy of the Sultanate of Oman in Kuala Lumpur inconjunction with the auspicious day.
In the first half of 2023, Oman's economy has seen a 2.1 percent growth and efforts have been made to reduce public debt and increase public revenues. The tourism sector has contributed significantly to the GDP, and Foreign Direct Investments (FDI) have increased by 23.3 percent in the first quarter of 2023.
Oman is actively seeking investments in various fields, including renewable energy and clean hydrogen production. The launch of the "Oman Future Fund" with a capital of RO2 billion aims to boost economic activity and encourage private sector partnerships in alignment with Oman Vision 2040, the statement said.
The country is also prioritizing the digital economy and artificial intelligence (AI) technologies, with plans to implement and localize AI technologies and develop legislation to support these sectors.
“The National Digital Economy Programme focuses on building a prosperous digital economy based on principles like enhancing in-country value and generating sustainable opportunities,” the statement added.
Oman is taking advantage of its geographical location by introducing special economic zones and free zones, connecting markets in the GCC, Europe, Asia, and Africa. Khazaen Economic City, with two free zones, attracting significant investments.
Oman has made progress in global indicators too, ranking 56th globally and 5th in the Arab world in the Industrial Competitive Performance Report for 2023 by United Nations Industrial Development Organisation (UNIDO). It also advanced 10 places in the Global Innovation Index for 2023, ranking 69th globally out of 132 countries.
As the current chair of the 43rd session of the GCC Supreme Council, Oman is actively working with GCC, Arab, and Islamic countries to achieve a ceasefire in Gaza and address the humanitarian crisis.
Meanwhile, on the Israel-Hamas conflict in Gaza, Oman’s Monarch called for the lifting of the illegal siege on Gaza and the resumption of the peace process reflecting Oman's commitment to supporting the rights and aspirations of the Palestinian people.
Oman's stance underscores its dedication to promoting stability and justice in the region.
-- BERNAMA
© 2025 BERNAMA • Disclaimer • Privacy Policy • Security Policy
