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PLANNING & FOLLOWUP DEPARTMENT

Objectives & Policies of the Ministries Sectors

Objectives & Policies of Commerce Sector:

- To raise the economic efficiency of the sector, increase its contribution to the gross national product (GNP) and raise the efficiency of domestic trade.
- To make maximum use of the strategic location of the Sultanate in order that it becomes a hub of re-export trade, and to further export orientation through export promotion.
- To increase the participation of Omanis in the commercial activities.
- To work for making the Sultanate ready to stand up to the issue of gloablization and the new international economic system.
- To enhance utilization by the Sultanate of its trade relations.

Objectives & Policies of Insurance Sector:

- To achieve a growth rate of approximately 6% in the 6th 5-Year Plan.
- To benefit from globalization and get ready to receive major insurance companies into the Sultanate and prepare the Sultanate to become a regional insurance centre.
- To raise the ratio of Omanization in the sector to 80% in the lower management and 50% in the middle and top management.

Objectives and Policies of Industrial Sector:

- To attain an average growth rate of 10.6% including petrochemical industries except oil refining.
- To support the balance of payments by increasing exports and reducing imports through achievement of an average growth rate in industrial exports of 11%.
- To achieve Omanization ratio of 7% and provide senior jobs for Omani graduates.
- To achieve regional equilibrium of industrial development.
To attain its sector-related objectives, the Plan rests first upon the development of industries based on natural gas, industries based on know-how, information technology and communications and, then, upon industries associated with oil, fishing and minerals.

Objectives and Policies of Tourism Sector:

- To achieve an average growth rate of 6.3% and raise the contribution of the sector to the GDP to 1%.
- To maintain social, environmental and cultural fundamentals in order to achieve sustainable development.
- To generate s elf-financing resources for the projects aimed at the sector development.
- To activate the role of the private sector and increase its contribution to the sector development.
- To develop Omani labour force to meet the prospective increase in the volume of the sector on the one hand, and raise Omanization ratio to 50% on the other.

Objectives and Policies of Minerals Sector:

- To achieve an average growth rate of 1.1% and increase the contribution of the private sector to the GDP to 0.3%.
- To achieve an average Omanization growth rate of 10%.
- To encourage the Private Sector to take the lead in investing in this sector and encourage, as well, international companies to invest in the sector.
- To make optimum use of mineral wealth and increase the value added.
- To utilize rocks and industrial minerals so as to promote the industrial sector and raise the level of sectoral solidarity.
- To achieve regional equilibrium in minerals sector development and conservation of the environment.