Oman at UNGA Sustainable Economy Summit: Implications for Investors and Businesses in the Region
NEW YORK: The Sultanate of Oman participated in the "First Summit for a Sustainable, Inclusive, and Resilient Global Economy," which took place during the 80th session of the United Nations General Assembly (UNGA) on Thursday.
Sayyid Badr bin Hamad Al Busaidi, the Minister of Foreign Affairs, represented Oman and delivered a speech outlining the Sultanate’s significant progress towards the Sustainable Development Goals (SDGs) set for 2030. He revealed that Oman has successfully met 14 out of the 17 goals, achieving a completion rate of over 82%.
In his address, Sayyid Badr emphasized Oman’s commitment to attaining carbon neutrality by 2050, primarily through initiatives focused on renewable energy, green hydrogen production, and the promotion of circular and blue economies. He highlighted several innovative projects launched by the Sultanate, including “Oman: A Sustainable Future,” the “Oman Future Fund,” and the “Energy Transition Fund” established by the Oman Investment Authority to facilitate the transition to clean energy.
He also reaffirmed Oman’s dedication to strengthening partnerships with nations worldwide, aligning with the principles of its foreign policy centered on peace, coexistence, tolerance, and dialogue. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s commitment to achieving carbon neutrality by 2050 through innovative initiatives like renewable energy and the circular economy presents significant opportunities for businesses focused on sustainability. However, this transition may also pose risks for traditional sectors that do not adapt quickly to the changing landscape. Smart investors and entrepreneurs should prioritize investments in green technologies and partnerships aligned with Oman’s SDGs to secure a competitive edge in this evolving market.
