Planning & Development  

Development Strategy » Overall Objectives of the Sixth Five-Year Development Plan (2001-2005)

Based on the general framework of the vision for Omani economy: Oman 2020, and in light of the developments that may arise during the period of the Sixth Five Year Development Plan (2001-2005), the overall objectives of the plan, that were adopted as per Royal Decree No. (1/2001) are as follows:

1. To ensure stability of the real average per capita income at its current level by targeting an average annual growth in the GDP at constant prices at the minimum rate of not less than 3%.

2. Adopt sustainable fiscal policies through rationalizing the government spending increasing the government revenues, particularly are non-oil revenue and build up of government financial reserves.

3. Maintenance of the current low levels of inflation.

4. First priority in the plan shall be given to raising the rate of enrolment ratio in higher education institutions and upgrading and spreading basic education.

5. Supporting the programmes that aim at promoting the activities of the youth sector as it is considered to be the corners tore for the building of the society.

6. Special attention shall be given to culture and heritage and they shall be considered as two fundamental dimensions that are integrated with the economic and social development.

7. Upgrading the scientific standard in the judicial field and enhancing international cooperation in the field of exchanging judicial expertise.

8. Provision of suitable employment opportunities to the Omani citizen through implementation of a set of economically feasible and labour intensive production projects.

9. Acceleration of the diversification activities growth rates as well as raising their share in GDP.

10. Development of non-oil goods and services exports through increasing their share, quality standard and structure.

11. Development of natural gas- based industries.

12. Upgrading tourism as it is one of the basic supports of comprehensive development.

13. Adoption of transport population policies consistent with the directives aiming at sustainability of development.

14. Special attention is to be given to the privatization programme, enhancement of its processes so as to reduce the National Economy's dependence on public spending, encourage private sector investment, provide competitive environment and improve the efficiency of the National Economy.

15. To increase the private sector share in GDP through its participation in the industrial programme of natural gas-based projects in addition to strengthening its activities in its traditional fields of investment and raising its productivity.

16. Increase private saving, encouragement of local and foreign investment through creation of a suitable investment climate, and expansion of the sectors activities

17. Realization of comparable levels of development in the different regions of the Sultanate