Oman Introduces Dedicated Economic and Development Tracks: What It Means for Investors and Business Growth
MUSCAT, JAN 5 — Oman has adopted a new, more adaptable national planning model under its Eleventh Five-Year Development Plan (2026–2030), to better respond to rapidly evolving global and regional economic conditions, stated Dr. Nasser bin Rashid al Maawali, Under-Secretary of the Ministry of Economy.
Dr. Al Maawali explained that, unlike previous plans which were implemented as a single rigid five-year framework, the new plan is divided into three phases—two years, two years, and one year. This segmentation enhances flexibility, allowing the government to make timely adjustments based on emerging economic and geopolitical developments. “This approach provides greater flexibility and the ability to absorb any changes, whether local, regional or international,” he emphasized.
Another significant innovation is the introduction of distinct economic and development tracks within the plan—a first for Oman. The development track targets foundational infrastructure such as roads, hospitals, schools, and other essential services, while the economic track focuses on fostering growth and addressing economic challenges. Roughly half of the strategic programs under the plan concentrate on economic priorities, with the other half addressing development needs, ensuring a balanced approach between growth and social development.
The new framework also strengthens the alignment between national priorities and community needs through extensive societal participation. “We listened to youth, the private sector, and various segments of society, while simultaneously addressing national priorities such as Net Zero and digital transformation,” Dr. Al Maawali noted.
Designed to enhance execution, accountability, and responsiveness, the revised planning model aims to establish the Eleventh Five-Year Development Plan as a more agile and results-oriented roadmap for Oman’s economic future.
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Oman’s introduction of a flexible, phased Five-Year Development Plan with distinct economic and development tracks signals a strategic shift towards agility and responsiveness in a rapidly changing global environment. For businesses, this means enhanced opportunities to align with evolving economic priorities like digital transformation and sustainability, while investors should now prioritize sectors linked to economic growth and infrastructure development, anticipating periodic plan adjustments. The model’s emphasis on community input and accountability underscores a forward-looking approach to inclusive, sustainable growth, presenting a balanced environment for long-term investment and innovation.
