Snapshot of Oman
The Sultanate of Oman, strategically located where the Arabian Peninsula reaches toward the Indian Ocean, has a long history of trade with distant nations. In ancient times, Omani caravans carried precious frankincense to the Pharaohs and to King David’s Jerusalem. The local legend of Sinbad inspired generations of Omani sailors to pioneer trade routes to India and China. Omani merchants managed the world’s spice trade from the island of Zanzibar. When the United States was still a new nation, Omani merchant ships sailed into Boston Harbor, laying the groundwork for one of America's longest-standing relationships.
These centuries of interaction with foreign cultures made the Omani people particularly tolerant and outward-looking. But enlightened leadership was needed to unleash the potential of the Omani people. Blessed with oil and natural gas resources, and positioned along the busiest sea lanes in one of the fastest-growing regions of the world, Oman was poised for success. From the day he assumed power in 1970, His Majesty Sultan Qaboos bin Said has thoughtfully fostered the country’s growth while preserving its cultural values.
His Majesty the Sultan recognized that oil reserves would eventually run out, so he invested in Oman’s greatest resource: its people. His Majesty was determined to make free education available to all Omanis. In 1970, 300 students were taught by 30 teachers in 3 schools. Forty years later, 563,602 students were enrolled in over 1,053 public schools employing around 40,000 teachers. Sultan Qaboos University, the nation’s first, opened in 1986. The public school system is complemented by private schools and technical colleges, some of which are in collaboration with distinguished foreign institutions.
His Majesty set tradition aside to guarantee equal opportunity for all citizens regardless of race, religion, or gender. Women participate in Oman’s Renaissance, with free education and the right to vote. They hold public office, own property, and work alongside men in both public and private sectors. His Majesty also invested in healthcare, with great success. The World Health Organization recently ranked Oman’s population as the healthiest in the world, and its healthcare system is among the ten best worldwide.
His Majesty implemented other pioneering policies promoting private sector growth and participation in the world economy. Oman is now a member of the World Trade Organization and the Gulf Cooperative Council, and the Sultanate has signed Free Trade Agreements with the Arab League and the United States. Article 11 of the Basic Law of the Sultanate of Oman establishes the national economy on the principles of justice and the free market.
These centuries of interaction with foreign cultures made the Omani people particularly tolerant and outward-looking. But enlightened leadership was needed to unleash the potential of the Omani people. Blessed with oil and natural gas resources, and positioned along the busiest sea lanes in one of the fastest-growing regions of the world, Oman was poised for success. From the day he assumed power in 1970, His Majesty Sultan Qaboos bin Said has thoughtfully fostered the country’s growth while preserving its cultural values.
His Majesty the Sultan recognized that oil reserves would eventually run out, so he invested in Oman’s greatest resource: its people. His Majesty was determined to make free education available to all Omanis. In 1970, 300 students were taught by 30 teachers in 3 schools. Forty years later, 563,602 students were enrolled in over 1,053 public schools employing around 40,000 teachers. Sultan Qaboos University, the nation’s first, opened in 1986. The public school system is complemented by private schools and technical colleges, some of which are in collaboration with distinguished foreign institutions.
His Majesty set tradition aside to guarantee equal opportunity for all citizens regardless of race, religion, or gender. Women participate in Oman’s Renaissance, with free education and the right to vote. They hold public office, own property, and work alongside men in both public and private sectors. His Majesty also invested in healthcare, with great success. The World Health Organization recently ranked Oman’s population as the healthiest in the world, and its healthcare system is among the ten best worldwide.
His Majesty implemented other pioneering policies promoting private sector growth and participation in the world economy. Oman is now a member of the World Trade Organization and the Gulf Cooperative Council, and the Sultanate has signed Free Trade Agreements with the Arab League and the United States. Article 11 of the Basic Law of the Sultanate of Oman establishes the national economy on the principles of justice and the free market.
The Sultanate makes business ventures easy, and opportunities abound as the government privatizes sectors of the economy. Sohar Industrial Port Company, for example, a Port of Rotterdam joint venture with an emphasis on energy based industries, manages the modern deep-water port just outside the Strait of Hormuz. Nearby, Sohar Aluminum has set a new standard in its operations, a model of safety, efficiency and technology. In the near future, a logistics-based industrial area -- including a new port and ship repair facility -- will open at Al Duqm, the end point of a pipeline that will provide an alternative outlet for crude oil from GCC nations. These successful enterprises pave the way for new investment opportunities in Oman’s mining, manufacturing, and tourism industries. The Sultanate’s long-term strategy includes moving toward a knowledge-based economy.
The eOman initiative was launched to provide the infrastructure needed for such economic activities as the Technology Park at Knowledge Oasis Muscat. KOM is home to such global IT leaders as Microsoft, Motorola and Oracle, which work alongside small and medium-sized enterprises, and startup firms fostered by Knowledge Oasis Muscat’s business incubator services.
(Excerpted from the Public Authority for Investment and Promotion of Export Development)
The eOman initiative was launched to provide the infrastructure needed for such economic activities as the Technology Park at Knowledge Oasis Muscat. KOM is home to such global IT leaders as Microsoft, Motorola and Oracle, which work alongside small and medium-sized enterprises, and startup firms fostered by Knowledge Oasis Muscat’s business incubator services.
(Excerpted from the Public Authority for Investment and Promotion of Export Development)
