Economy
Ministry: Royal Directives Enhance Economic Diversification

Muscat,
22 Sep 2026 (ONA) — The Ministry of Economy pointed out that the Royal
directives of His Majesty Sultan Haitham bin Tarik, when he presided over the
meeting of the Council of Ministers today, emphasize the importance of
continuing to build an economy capable of handling changes, expanding the
productive base, and sustaining financial and economic stability.

Dr.
Khamis Saif Al Jabri, Minister of Economy, stated that the Royal directive to
prepare a long-term plan for the growth of the non-oil trade balance represents
an important path to maximizing benefit from local resources, strategic
location, infrastructure, and agreements signed with many countries.

He
added that establishing specialized industrial clusters for pharmaceutical
industries and medical devices, alongside approving the National Program for
Enhancing the Investment-Attractive Business Environment, supports localizing
vital industries and elevates the attractiveness of the business environment
for local and foreign investments.

Al
Jabri pointed out that these paths collectively support achieving the targets
of Oman Vision 2040 linked to its economic priorities and moving toward more
sustainable and diversified development based on expanding the productive base
and increasing benefit from the comparative and competitive advantages of the
Sultanate of Oman.

—Ends/AG