11th Five-Year Development Plan: Key Changes That Could Transform Business Opportunities in Oman
Muscat: The 11th Five-Year Development Plan (2026–2030) represents a pivotal moment in Oman’s development trajectory, aligning with the midpoint of Oman Vision 2040 and the conclusion of the global Sustainable Development Goals (SDGs) for 2030.
This plan has been crafted under favorable economic conditions and emphasizes a transition to a low-carbon economy, underscoring Oman’s commitment to sustainability and climate responsibility.
Key Sectors and Economic Diversification
The plan identifies three main sectors as crucial for economic diversification: manufacturing industries, tourism, and the digital economy. These sectors have been chosen for their potential to drive value-added growth, create job opportunities, and enhance non-oil economic activity in alignment with diversification benchmarks.
Main Objectives
The plan sets forth several key objectives:
- Increase average economic growth to 4%.
- Achieve 4% average growth in non-oil activities.
- Raise the contribution of non-oil exports to 26.4% of GDP.
- Enhance private investment to 20.8% of GDP.
- Attract foreign direct investment averaging 10.5% of GDP.
Supporting Employment
A focus on employment is central to the plan, with 27 strategic programs aimed at job creation and training. These initiatives will accelerate the integration of jobseekers into the workforce, empower national talent within the private sector, and cultivate skills that meet labor market demands.
Benefits for Citizens and Families
The plan includes 25 programs targeting family well-being, national identity, and quality of life. Key focuses include enhancing education and healthcare services, strengthening social protection systems, and improving living standards.
Environmental Sustainability
A commitment to environmental sustainability is evident through a gradual shift to a low-carbon economy, efforts to reduce carbon emissions, the expansion of renewable energy projects, and investments in sustainable infrastructure.
Role of Governorates
The plan aims to bolster the role of governorates by promoting economic decentralization. This will empower local authorities to manage their development priorities, improve local services and infrastructure, and enhance the efficiency of local leadership.
Community Participation
Community engagement was instrumental in shaping the plan, with over 280 workshops and dialogue sessions conducted, involving 620 experts and specialists. Government entities, the private sector, and civil society organizations collaborated in a participatory approach to establish priorities.
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s 11th Five-Year Development Plan (2026–2030) presents strategic opportunities for businesses, particularly in the manufacturing, tourism, and digital economy sectors, driving non-oil diversification. This focus not only promises a rise in private and foreign investments, potentially increasing economic growth to 4%, but also underscores a commitment to environmental sustainability. Smart investors should capitalize on the emphasis on job creation and local governance to align with Oman’s goals, positioning themselves to innovate while adhering to sustainability mandates.
