#Oman Our World Tuesday, November 18, 2014 OMAN Tradition of smart planning to boost economic diversification This supplement to USA TODAY was produced by United World Ltd., Suite 179, 34 Buckingham Palace Road, London SW1W 0RH – Tel: +44 20 7305 5678 –
[email protected] – www.unitedworld-usa.com While the hydrocarbon industry remains as a strong backbone to the Omani economy, the sultanate is promoting other sectors and industries as well as bolstering the education system to prepare young Omanis for a future characterized by a larger private sector and more diversified economic base here’s a revolution long-term plan to move away and other sectors to break the According to Mr. Hvidt, more under way in the from oil. economic dependence on oil. than half of total spending Middle East, and it’s Economic diversification On the tourism front, the in the current five-year plan, not characterized by away from oil has been at the government is touting Oman’s which runs until 2015, is ear- mass demonstrations, upheav- heart of Oman’s series of five- diverse geography and un- marked for the construction Tal and government overthrows. year plans since they were start- expected beauty. The third- and modernization of airports, It’s in the Sultanate of Oman, ed in the 1970s. Under the first largest country on the Arabian roads and other transportation and has been going on quietly plan, the government invest- Peninsula offers unusual land- means. Another 26% is allocat- for decades. Under the lead- ed heavily in projects to devel- scapes for the Middle East, with ed to developing seaports, wa- ership of His Majesty Sultan op industry, mining, farming fjords and sometimes snow- ter supply systems and housing.