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Maqbool bin Ali Sultan
Minister of Commerce & Industry
   
On occasion of the publication of Oman Vistas, it gives me great happiness to state that the economy of the Sultanate of Oman is on a fast track. The seventh five-year plan (2006 – 2010), which is quite growth-oriented and aimed at diversifying the economy, is a clear indication of this. The plan also aims at improving the standard of living of this nation’s citizens, increasing employment opportunities and improving education.
   
A major growth area, which witnessed the setting of many milestones, was in the field of information technology (IT) and the telecommunications sectors, including the Internet, e-government, and
e-commerce. These initiatives have the potential to continue spurring growth in these areas and many spin off benefits.

In addition, as the winds of liberalization spreads, it bodes well for continual and enhanced international investor interest. One can see far greater opportunities for foreign direct investment for global operators, vendors and finance experts than before. The implementation of liberalization and privatization programmes will also result in a steady and optimistic stock market. New entities also burgeoned in the financial services market, including the insurance sector.

Oman is, in fact, poised for a brand new era of growth, success and prosperity. The earlier rounds of
privatization and liberalization milestones will continue in the future years and the current emphasis on growth and its visionary approach is set to take the economy to new heights.

The Sultanate is blessed with many wonders, which is what helps us woo more tourists to our fold. As they say, Oman is still probably, the world’s best-kept secret. The extensive investments in the tourism industry and the opening up of the property market for foreign nationals are all constructive developments, expected to bring in further gains, substantial foreign exchange and numerous job opportunities.

All of this, supported by the vision and encouragement of a great leader, His Majesty Sultan Qaboos bin Said, Oman, is on the threshold of an exciting new future.