Oman Expands on All Cylinders with Public-Private Partnership
When visiting Oman these days, the country’s growth is in plain sight. Highways across the country are under construction or expansion; and development continues at major industrial zone and ports at Sohar along the northern coast, Duqm on the central coast and Salalah down in the south. Medical projects are underway, such as the International Medical City in Salalah, or under development, such as the Sultan Qaboos Medical City in Barka. Hydrocarbon exports continue through recently developed infrastructure such as the LNG processing plant in Qalhat.
As such, it’s no surprise the country is growing at more than 4% a year in real terms, and according to the IMF, will see its non-oil economy expand by nearly 5.5% a year through 2018.
All of these developments are guided by the “Vision for Oman’s Economy 2020,” a plan adopted in 1995 to chart the Sultanate’s path toward self-sustained growth in a private sector-led, export-oriented economy with diversified sources of national income.
GE, which has been a partner to development in Oman for 40 years, recently held a key event that explored the importance of stronger public-private partnerships (PPPs) in accelerating this economic diversification and job creation. Government officials, industry leaders and experts discussed the power of partnerships to boost Oman’s economic growth and business competitiveness.
We’ve captured highlights of the event to keep you informed about GE’s work across the Sultanate. Watch the video below.
For more on GE’s presence in Oman and its activities supporting the Sultanate’s economic development, click here.