(MENAFN– Mid-East)
Oxford Business Group partners with MTCIT for comprehensive analysis of Oman’s digital Economy development

Muscat, June 2024: Oman’s journey towards a digital future under its National Programme for Digital Economy is explored in a new advisory report produced by Oxford Business Group (OBG) in partnership with the Ministry of Transport, Communications, and Information technology (MTCIT).

Titled“Oman’s Digital Future,” the report provides an in-depth analysis of the country’s efforts to enhance its digital infrastructure, advance e-government services, adopt artificial intelligence (AI) and other advanced technologies, and foster growth in the space, e-commerce and fintech sectors.

Guided by the National Programme for Digital Economy, Oman’s digital transformation process is revolutionising its economy and society by enhancing productivity and fostering new growth engines.

The report highlights significant advancements in connectivity, AI innovation, cybersecurity, and the burgeoning e-commerce and fintech sectors. It delves into the eight executive programmes guiding Oman’s progress towards achieving its digital economy goals and enhancing its global competitiveness in next-generation technologies and future-oriented industries.

With the aim of increasing the digital economy’s contribution to GDP by 10% by 2040, the National Programme for Digital Economy is driving several key initiatives. These include the expansion of 5G networks, the development of satellite communications capabilities, and the establishment of comprehensive cloud systems. Investment in AI and cybersecurity is also being prioritised to ensure Oman remains at the cutting edge of technological innovation.

Said bin Hamoud bin Said Al Mawali, Minister of Transport, Communications and IT, emphasised the importance of the digital economy in meeting the long-term objectives of Oman Vision 2040, the country’s long-term blueprint for socio-economic development.

“Government entities in Oman understand the importance of the digital economy in spurring innovation and growth. Top priorities include the expansion and enhancement of digital infrastructure, in addition to stimulating growth in the digital content industry and capitalising on Fourth Industrial Revolution technologies in order to enable the digital transformation of various economic sectors, data centres, cloud services and government,” he said.

Commenting on the report, Dana Carmen Agarbicean, OBG’s Country Director for Oman, said that the findings underscore Oman’s commitment to becoming a leader in the digital economy.

“Our report explores the strategic initiatives driving Oman’s significant progress in developing a robust digital economy. These efforts are positioning Oman as a competitive player in the global technology landscape and boosting productivity in government and the corporate sector,” she said

“Oman’s Digital Future” is part of a series of tailored studies that OBG is producing with its partners, offering valuable insights into the economic developments taking place across various sectors and regions. The report also includes exclusive interviews with Qais Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion; Tahir Al Amri, CEO, Central Bank of Oman; and Ali Al Shidhani, Undersecretary for Communications and IT, MTCIT.

Explore the full report for comprehensive insights into Oman’s digital journey and its transformative potential here. The report will soon be available in Arabic.

About Oxford Business Group:

Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world’s fastest-growing markets, termed The Yellow Slice, in reference to OBG’s corporate colour.

Through its range of products – Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions.

OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv’s (previously Thomson Reuters) Eikon subscribers, and more.


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