Focus on economic diversification plans

The Majlis Ash’shura will hold its eighth regular session on Sunday, for the third annual sitting (2021-2022) to discuss the statement of the Ministry of Economy, the first of the current annual session in the list of ministerial statements to be discussed successively by the Majlis Ash’shura.

This was stated by Shaikh Ahmed bin Mohammed al Nadabi, Secretary-General of the Majlis Ash’shura.

“The statement of the Ministry of Economy will discuss five main themes, topped by the assessment of the economic diversification process in the Sultanate of Oman through Oman Vision 2040 and through the Tenth Five-Year Plan, evaluating the performance of diversification sectors in the plan, the economic impact of the Covid-19 pandemic on the national economy, which includes the ministry’s role in policies and stimulus programmes in mitigating the repercussions of the pandemic and the results achieved in this regard, its role in facing the effects of the pandemic, the size of the pandemic’s impact on small and medium enterprises, and the integration of the role of government institutions in facing the economic effects of the pandemic,” Shaikh Al Nadabi said.

He added that the third theme will discuss the performance of the strategic programmes of the Tenth Plan (2021-2025), which includes 340 strategic programmes and 14 national priorities distributed over various sectors, the ministry’s role in following up the implementation of the performance of these programmes according to the strategic plan followed with the authorities concerned. The fourth one will discuss the evaluation of the performance of the development budget for the Ninth Five-Year Plan (2016-2020) and the most prominent features of that budget during the current five-year plan.

Regarding the fifth one, Shaikh Al Nadabi said that it will discuss the ministry’s economic vision during the current plan on several issues, including job-seekers, supply and demand balances in the short and medium-term, population changes in the medium and long-term, economic cooperation which includes agreements, memoranda of understanding and impact measurement and developing governorates in terms of programmes, partnership projects, besides comparative and competitive advantage.

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