World Bank Praises Oman Vision 2040New York, 31 May (ONA) —— The World Bank has commended the objectives of Oman Vision 2040, which aims to achieve sustainability and integration with the global economy, stating that the economic reforms implemented by the Sultanate of Oman serve as a model for economic diversification efforts.In an article published on its website, the Bank highlighted that the Vision places significant emphasis on developing human capital and improving education quality, while also fostering a culture of research and innovation. New programs have been launched to fund research, transform ideas into marketable products, and establish innovation hubs and business incubators to support startups and turn student projects into commercial ventures.Young entrepreneurs also receive support through financing and training initiatives in partnership between the public and private sectors.The Bank noted that Oman has implemented major regulatory reforms to stimulate private sector growth and attract foreign investment, emphasizing their pivotal role in boosting investments and enhancing the private sector’s contribution. Additionally, the country has prioritized the modernization of ports, airports, and free zones.It stated that the development of the Special Economic Zone in Duqm, along with improvements to the ports of Salalah and Sohar, reflects this approach. These investments aim to facilitate the flow of goods and strengthen Oman’s position as a key contributor to global supply chains.The Bank pointed out that the results of this economic transformation are becoming increasingly evident, with non-oil sectors—such as manufacturing, transportation, construction, and food and water security—showing accelerated growth rates. This progress is demonstrated through economic and developmental projects spread across various governorates of the Sultanate of Oman.—— Ends/AH