Oman’s Vision 2040 Objectives

The Omani ecomony has been on a steady transformation course through development plans, beginning with the first 5-year plan (1976-1980). On instructions from His Majesty Sultan Qaboos Bin Said, Vision 2040, a plan for Oman’s economic future up to the year 2040 was created. Vision 2040 details the Sultanate’s economic and social goals, these include:

Development Agenda - Investing in the Future

Building a strong infrastructure is a major driver of the government's plans to diversify the economy, achieve growth and create investment opportunities in other sectors, with about
1.3 billion riyals in 2020
to develop the infrastructure with the aim of supporting the sectors of trade, logistics and tourism to boost growth and facilitate foreign investment.

Current Situation

Current situationThe GDP growth rate has continued to rise beyond the Middle East and North Africa and the global average. The GDP growth rate for 2016-2020 is expected to be approximately 3%.
Key Macroeconomic Indicators
Major macroeconomic indicators 30.5 billion Omani rials GDP 2018
GDP growth forecast for 2016-2020 3%
Census in January 2020 4,640,912
Increase in inflation 2018 0.9%
Government expenditures 2018 13.6 billion Omani riyals

GDP 2015

Gross Domestic Product (GDP) by Kind of Economic Activity at Current Prices - 2017

The sum of the contribution of oil and non-oil activities of GDP does not equal 100 because of the contribution of financial intermediation services indirectly measured and taxes less subsidies on Products

2020 Target GDP Contribution by Sector

Total Foreign Investment by Industry (Relative Share %)

Created with Highcharts 4.2.3 2015 Exploration Gas and Oil: 44.3 %Intermediation Financial: 17.7 %Manufacturing: 16.4 %Communication & Storage - Transport: 3.8 %Activities Business and Renting - estate Real: 7.9 %Trade: 4.0 %Construction: 1.8 %Water and Electricity: 1.0 %Restaurants and Hotels: 2.4 %Other: 0.8 %

FDI by country of origin (Relative Share %)