Global Arab Network | Renaissance Day – Oman achieving economic and political stability

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Renaissance Day – Oman achieving economic and political stability

Thursday, 22 July 2010 13:28

Oman (Muscat) – In the past 40 years, Oman witnessed sincere and continuous efforts in a bid to build a modern country not only on the economic and infrastructure fronts, but also on political and institutional fronts to ensure effective participation for the Omani citizen and private sector in the various aspects of the development process.

Although the Omani government has played a major role, especially in the early years of the blessed Renaissance march, the Omani citizen and the private sector have managed to play an active and growing role; especially the Omani man is the aim, maker and beneficiary of the development and is responsible for enhancing and maintaining it. The private sector now bears the large share in implementing the investment programme for the state's general budget for this year. It should be noted that the private sector has many growing opportunities across the sectors of the Omani economy without exception including higher education, media, water, health, electricity, communications, tourism and others within the framework of the priorities and programmes of the socioeconomic development plans being implemented.

It is worth mentioning that 2010 marks the fifth year of the seventh five-year plan. Work is underway now to develop the 8th five-year plan (2011-2015) which will be a plan for going further with further strides on the road to achieving economic progress in the Sultanate.

It is noteworthy that the State Council and Majlis A'Shura take part in preparing the five-year development plan. Majlis A'Shura also discusses the plan, approves it together with the state's annual general budget before being issued. This comes within the functions and powers of the Majlis which acts - through its members- as a communication link between the government and citizens. It also acts as a mean for interaction among them to serve the interests of the nation and the citizens.

The Omani economy managed to cut steady strides at the road for progress and the ability to ensure positive interaction with the different economic, financial, regional and international developments. While constantly seeking to develop its integration in the global economy, the Central Bank of Oman (CBO) applies sound economic and financial policies. It is therefore not strange that the Omani economy managed to address the implications of the global financial crisis very efficiently. The Omani economy managed to avoid many of the negative implications and outcomes that have affected many economies in the region and the world as well.

The Omani economy is moving ahead very well in line with the Omani Economic Vision 2020. A large number of industrial, service and tourist projects are being implemented in Sohar, A'Duqum, Salalah, Al Buraimi, Muscat, Sur, Nizwa and others.

As per the study of the Kuwait-based Arab Fund for Economic and Social Development, which covered 20 Arab countries between 1960 and 2008, the Sultanate obtained the first place in the most growing Arab countries during the last fifty years with 9.6% gross GDP growth during the period of the study. This growth rate is the highest in the Arab countries during the period of the study.

In the study issued by (Dafos) World Economic Forum about the global trade index 2010, the Sultanate came in the 3rd position amongst Arab states and 29th position in the world, an improvement compared to the last year. This highlights the efficiency of the Sultanate's economic and financial policies.

There is no doubt that success on the domestic front is considered as a base and a pillar for the foreign achievements of the country. The Sultanate's foreign policy during the last forty years is marked by wisdom, farsightedness and ability to win friends, as well as, the Sultanate's active role in materializing welfare, stability, security and solidarity not only amongst the Gulf states, but for all the Arab, regional and international fronts. This goes back to the bases adopted by His Majesty Sultan Qaboos bin Said in the Sultanate's foreign policy and the relations with the brotherly and friendly countries from one side and clarity, frankness and transparency of the Omani stands towards various situations and issues in the Gulf Region, Arab Region and the whole world from the other side, particularly because His Majesty enjoys a deep appreciation and respect by the leaders and peoples of the brotherly and friendly countries inside and outside the region.

The Sultanate also supports the cooperation and integration amongst the AGCC states in all field in away that helps in achieving the common interests of all the AGCC states as it exerted its utmost efforts in implementing the AGCC supreme council decisions concerning all issues that promote integration amongst them.

The Sultanate also pays much attention for building the best relations amongst the AGCC states, the sisterly Yemeni Republic, the friendly Islamic Republic of Iran that stems from its recognition to the importance and significance of promoting the cooperation and stability in this vital region in order to get the good return for all its states and peoples now and in the future.

In addition, the Sultanate plays an active role whether in the Arab or the regional fronts in reinforcing and supporting the Arab issues, as well as, promoting the peace and stability, in addition to, solving different Arab problems, particularly the Palestinian cause, through peaceful means and according to the international decisions or even for broadening and deepening its relations with the brotherly and friendly countries for serving the common interests in all fields. The Omani diplomatic dimension enjoys significant position in the Sultanate's relations with many friendly countries in Asia, Africa, Europe and Americas.

The visits that were made by His Majesty the Sultan to several brotherly and friendly countries, as well as, the various visits of a large number of leaders to the Sultanate over the last few months have clearly marked the deep appreciation that His Majesty enjoys amongst the regional and world's leaders. These visits also highlight the positive effort and contribution for the sake of reinforcing the stability and peace, as well as, solving all the differences through peaceful means whether in the Gulf, Arab region or in the whole world in order to ensure peaceful and prosperous living for all the regional and world's peoples. (ONA)

Global Arab Network

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