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THE SULTANATE of OMAN Living the Renaissance EDITOR in CHIEF: ALBERTO LEANDRO LLARYORA

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THE SULTANATE of OMAN Living the Renaissance EDITOR in CHIEF: ALBERTO LEANDRO LLARYORA Our World See this report at worldfolio.co.uk Monday, November 19, 2012 THE SULTANATE OF OMAN Living the Renaissance EDITOR IN CHIEF: ALBERTO LEANDRO LLARYORA This supplement to USA TODAY was produced by United World Ltd., Suite 179, 34 Buckingham Palace Road, London SW1W 0RH – Tel: +44 20 7409 3106 – [email protected] – www.unitedworld-usa.com For the past 42 years, the Sultanate of Oman has been enjoying strong socioeconomic development. Hugging the southeastern tip of the Arabian peninsula, Oman has a history to celebrate and a future to truly look forward to he year 1970 marks shifting away from the current the required balance upon one of the most system of administration and which wise decisions that con- significant mile- towards a constitutional one. sider the interests of all were stones in Oman’s Considered a haven of peace based.” history. It was in and stability in the region, The last 42 years under His Tthat year that His Majesty Sul- Oman’s foreign policy is one Majesty the Sultan’s rule have tan Qaboos bin Said took over that seeks regional stability also witnessed strong eco- the reins of the country and set and cooperation. nomic growth, due in no small the country on a course of ma- As Yousuf Bin Alawi Bin Ab- part to the oil and gas sector. jor social reforms, adminis- dullah, Minister Responsible The government expects to trative modernisation and for Foreign Affairs, puts it: receive $22.8 billion in rev- openness to the outside world. “The fundamentals of the Sul- enues, nearly 70% of which will The past four decades under tanate’s policy in its relations stem from oil sales and an- His Majesty the Sultan’s lead- with other countries are based other 12.5% from gas exports. ership have had such a positive on dialogue and mutual re- Nevertheless, Oman is join- impact on the country that the spect.” Consequently, Oman ing the ranks of many other period has been termed the remains one of the few coun- oil states in the pursuit of a “Blessed Renaissance”. tries that have maintained more diversified economy. By Indeed, in late 2010 the Unit- friendly ties with Iran, and as 2020, the Sultanate plans for ed Nations Development Pro- the oil sector to contribute just gramme (UNDP) conducted 9% to total gross domestic a survey of 135 countries “EVERY NATION product (GDP), which grew worldwide, measuring their THAT DESIRES TO by a healthy 5.5% last year, progress in health, education LIVE… NEEDS TO reaching $71.89 billion. and income according to the ROLL UP ITS In its Eighth Five Year Plan Human Development Index. SLEEVES AND (2011-2015), the government The report named Oman as WORK TIRELESSLY is promoting non-oil exports the nation most improved dur- AND DILIGENTLY and is increasing spending on ing the preceding 40 years. WITH DEDICATION infrastructure projects. Ac- Not content to rest on his AND THE LOVE TO cording to the Ministry of Fi- laurels, His Majesty the Sul- GIVE nance, more than $17.9 billion tan continues implementing GENEROUSLY…” has been allocated to new pro- reforms to raise quality of life. jects to date, including the For example, uprisings in His Majesty Sultan Qaboos bin Said building of five hospitals, 29 Oman during the Arab Spring schools and the Al Batinah Ex- were soon quelled with the pressway, as well as for new government’s vow to provide infrastructure on the Samail, Omanis with 50,000 new jobs Ibri and Duqm industrial es- in the public and private sec- such, has served as a diplo- tates, and for the implemen- tors, as well as with unem- matic tie between the latter tation of scientific research ployment benefits in the country and the rest of the and information projects. meantime. Other novelties world. In fact, Oman helped His Majesty the Sultan has were an increase in the num- facilitate the September 2011 Oman’s present and future at ber of scholarships available release of North Americans heart, and in his speech called to Omani students. and Europeans who had been on the people to participate Also in 2011, His Majesty detained by Iran. in laying the groundwork for the Sultan made modifications While not turning its back a better future. “Therefore to the political structure; by on its giant neighbour across every nation that desires to amending the Basic Law of the Arabian Gulf, Oman does live – in the full meaning of State, he gave citizens more say embrace moderation. His the word – needs to roll up its in the country’s governance. Majesty the Sultan, in his Oc- sleeves and work tirelessly and Reforms such as this are hint- tober 2011 speech to the diligently with dedication and ing that Oman is gradually Council of Oman, said: “As the the love to give generously to monopolisation of opinion utilise its capacities and skills and its imposition on others A UNITED and invest in its resources and WORLD should not be permitted, rad- potential, so that it can build SUPPLEMENT icalism and immoderation a great and illustrious present PRODUCED BY: should also not be tolerated and prepare for a decent and Barbara Jankovic because all that will disturb prosperous future.” Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content 2 Monday, November 19, 2012 OMAN Distributed by USA TODAY Oman and US build on historic ties The two countries have shared trading interests ever since American merchant ships began docking in Muscat at the end of the 18th century From the 1833 Treaty of Com- merce and Amity – the first bi- lateral accord between the US and an Arab Gulf nation – to the 2006 Free Trade Agreement (FTA), Oman and the United States enjoy a longstanding and multifaceted relationship. The appointment of Am- bassador Hunaina Al Mughairy, the first Arab woman ambas- sador in Washington, in 2005 acknowledged Oman’s pro- gressive stance, and signalled a new period of cooperation be- tween the two nations. She was recently awarded the Ambas- His Majesty Sultan Qaboos bin Said with Hillary Clinton during her recent visit to the Sultanate of Oman sador of the Year award from the National US-Arab Chamber of operate for their mutual inter- panded by nearly 30% year-on- Much of the government’s country's geographical and sizeable opportunities for in- Commerce (NUSACC), and est,” said the ambassador. year to $1.4 billion. procurement is now open to political position on the Ara- vestors and the country itself. has used her 16 years of living The clearest indicator of this “American investors have US firms, and management bian Sea. “US companies will get a in the country to not only visit “mutual interest” came with the shown a keenness to activate regulations have relaxed. Com- “Although Oman has a small new market and another stag- 35 of the nation’s states, but to FTA’s implementation in 2009. the bilateral investment rela- panies can own 100% of their population, our neighbours are ing area to enter the markets also forge a series of diplomat- Export markets opened up tions,” explains Khalil Abdul- businesses without a local part- highly populated,” adds Al of Africa and India,” she said. ic and commercial agreements. across an array of products and lah Al Khonji, Chairman of ner and dispute resolution pro- Khonji. “That is a big market “And we offer unmatched in- “The relationship between services, and major US firms Oman’s Chamber of Com- cedures are being developed. for US companies and a good centives to foreign investors Oman and the US stands as a such as Dow Chemical, Occi- merce and Industry (OCCI). The creation of the US- opportunity because we have which aim at guaranteeing the model of how free people, de- dental and Bechtel are now ac- “As of today, US companies Oman Business Council, a a longstanding relationship long-term objectives that serve termined to maintain their ter- tive in the country, with Oman’s have investments in oil, auto, project between the OCCI with the US.” the interests of the investor ritorial integrity and political exports worth $2.2 billion in foodstuff, textile and infra- and the NUSACC, will fur- And as Hunaina Al Mughairy community, as well as the independence, can and do co- 2011, while US exports ex- structure sectors.” ther engage investors over the explains, these factors provide country and its people.” Financial sector improvements aid economy QUOTED Oman is developing its fiscal and monetary policy co-ordination to ensure continued financial sector growth Owing to its location, Oman with international rating agen- country’s financial industries. local high net worth individu- has long attracted trade and in- cies affirming and upgrading Despite a struggling global als – and technology, including vestment to its shores. This first its sovereign rating.” economy, Oman’s banking sec- the recently installed NFCV “THE GOVERNMENT “OMAN’S STABLE came in the form of merchant Inflationary pressures are al- tor profits amounted to 900 system – will help the mar- IS ENGAGED IN ECONOMIC ships docking in Muscat. To- so expected to weaken, partly RO190.8 million ($495.5 mil- ket grow. MAKING THE PERFORMANCE day, steady growth and an open due to the strengthening US lion) in 2009 and RO247.7 mil- “In the region we are seeing INVESTMENT HAS SEEN IT and accessible economy attract dollar, allowing the Sultanate’s lion in 2010. A study by the good indications,” said Ahmed CLIMATE AS RANKED AS THE a range of foreign investors.
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