11th Plan’s Focus on Manufacturing and Tourism: Key Opportunities for Investors and Entrepreneurs in Oman
MUSCAT, JANUARY 4 — The Ministry of Economy has designated manufacturing, tourism, and the digital economy as the primary economic sectors under Oman’s Eleventh Five-Year Development Plan for 2026-2030.
During a media briefing last week, Dr. Nasser bin Rashid al Maawali, Under-Secretary of the Ministry of Economy, explained the criteria for selecting these focus areas. “We considered factors such as comparative advantage, potential for localization, capacity for global market access and exports, support for diversification, employment creation potential, and contributions to growth and economic linkages,” he stated.
Based on these criteria, the key sectors identified include tourism, manufacturing, and the digital economy.
The manufacturing sector was chosen for its significance as a major exporter and a source of both direct and indirect employment. Its strong connections with other sectors, such as mining, food security, logistics, and education and vocational training, further enhance its importance. The Plan emphasizes prioritizing export-oriented industries that leverage technology and knowledge, particularly those aligned with the green economy.
The digital economy was selected for its potential to create high-quality jobs, stimulate innovation, enhance national industry competitiveness, and streamline processes across various sectors, integrating them into the global economy. Al Maawali noted that for the first time, the digital economy is recognized as a key sector, with an anticipated average growth of 10.8% during the plan’s duration.
Tourism was highlighted due to its capacity for job creation and its vital role in economic diversification, supported by robust connections to various sectors. The Plan focuses on diversifying tourism activities and attracting a broad range of international events, including recreational, sporting, scientific, and cultural activities.
Al Maawali clarified that prioritizing these three sectors does not mean that others will be overlooked. “Concentrating our economic focus on these sectors is aimed at driving growth, not neglecting other areas,” he emphasized.
In addition to the priority sectors, the Plan outlines several enabling and supporting sectors to ensure sustained economic growth and comprehensive development, including food security, mining, renewable energy, transportation and logistics, as well as education and health.
Moreover, the Plan allocates RO 400 million annually to strategic programs that support broader economic and social development.
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The prioritization of manufacturing, tourism, and the digital economy in Oman’s Eleventh Five-Year Development Plan opens up significant opportunities for businesses to innovate and expand, particularly in export-oriented and sustainable sectors. Investors should closely monitor the growth of the digital economy, forecasted at an impressive 10.8%, as this sector is poised to reshape traditional industries and enhance competitiveness. Additionally, the renewed focus on tourism diversification could lead to new ventures, but carries the risk of market saturation if not strategically developed.
