Unlocking Opportunities: How Oman’s 11th Plan Fosters Flexible Growth for Investors and Entrepreneurs
MUSCAT: The unveiling of Oman’s Eleventh Five-Year Development Plan (2026–2030) represents a crucial advancement towards establishing a more diversified, resilient, and inclusive economy as the Sultanate embarks on the second phase of Oman Vision 2040. This plan builds upon the fiscal stability and structural reforms achieved in recent years, introducing a flexible framework aimed at sustaining growth while balancing financial stability with both economic and social priorities.
The new plan incorporates the achievements from the first phase of Oman Vision 2040, which enhanced public finance sustainability, stimulated GDP growth, and expanded non-oil sectors. These economic improvements have been accompanied by significant social advancements, such as the implementation of a national social protection system, increased social spending, and higher subsidies for food and essential services. Additionally, continued investments in healthcare, education, housing, and strategic infrastructure have been prioritized.
A standout feature of the Eleventh Plan is its multi-track implementation model. The time-based track organizes the plan into three structured work programs, enabling progress monitoring and adjustment. The integrated track combines insights from prior development plans with outputs from technical teams, allowing the government to introduce new strategic initiatives that respond to emerging needs. This adaptability aims to empower policymakers to navigate economic fluctuations while maintaining developmental momentum.
For the first time, the planning track distinctly links economic and social development through two complementary components: an economic focus on growth and diversification, and a developmental emphasis on social, environmental, and regional outcomes. Together, these elements are deemed essential for achieving the goals of Oman Vision 2040 and the Sustainable Development Goals.
From an economic perspective, the plan emphasizes sustainable diversification, innovation, and fiscal discipline. A key objective remains the reduction of reliance on oil revenues, alongside enhancing export capacity and boosting the competitiveness of non-oil sectors. Supporting policies are directed at improving productivity, attracting investment, and bolstering the private sector’s role as a growth engine.
The plan also prioritizes decentralization and balanced regional development. Governorates will receive increased authority to make economic and developmental decisions, identify priority projects, and attract investments aligned with their unique advantages. This strategy is designed to invigorate local economies, elevate household incomes, and ensure a fair distribution of development projects throughout Oman.
The developmental aspect further prioritizes infrastructure, focusing on transport networks, smart cities, and digital government services. The plan aims to enhance public service efficiency, strengthen governance and institutional performance, and promote transparency and accountability within government entities. Environmental sustainability remains a critical focus, encompassing green economy initiatives, expanded renewable energy use, and reduced carbon emissions to safeguard natural resources for future generations.
Dr. Salem bin Abdullah al Shaikh, the official spokesperson of the Ministry of Economy, noted that the Eleventh Five-Year Plan establishes new development pathways centered on financial sustainability, economic growth, and diversification, forming the basis for comprehensive and balanced development. He emphasized that the plan adopts a forward-looking approach that considers global trends and fortifies resilience against external shocks.
Dr. Al Shaikh also highlighted the plan’s aim to bolster economic decentralization by enabling governorates to leverage their competitive strengths, direct investments to local needs, and cultivate sustainable local economies. This initiative is expected to improve incomes, create jobs, enhance infrastructure, and strengthen private sector partnerships, ultimately promoting national economic integration.
With its focus on flexibility, decentralization, and sustainability, the Eleventh Five-Year Development Plan positions Oman to solidify recent reforms while making steady progress toward the long-term aspirations of Vision 2040. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
The launch of Oman’s Eleventh Five-Year Development Plan signals a robust move toward a diversified and resilient economy, presenting substantial opportunities for businesses to engage in non-oil sectors and local investments. With a focus on economic decentralization, entrepreneurs can leverage regional dynamics to drive growth while mitigating risks associated with oil dependency. Smart investors should now consider aligning with government priorities in sustainable development, infrastructure, and innovation to capitalize on emerging trends and enhance their competitive advantage.
