MUSCAT: The German Strategic Partnership Network confirmed that the Sultanate of Oman is focusing on diversifying the national economy, as part of the ‘Oman Vision 2040’.
In a new report published on its website, it added that Oman’s economic diversification strategy includes a master plan for energy and the development of a green hydrogen economy, with the aim of reducing dependence on oil and striving for sustainable growth, taking into account global sustainability standards.
“The plan also aims to expand the production and export of green hydrogen, pointing to the reliance on a close partnership with Western countries,” it added.
Bavaria, a German state, sees great potential in green hydrogen cooperation with the Sultanate, as Bavarians are already giving a push to Oman’s export-oriented green hydrogen economy, it said and added that several green hydrogen projects are being planned, with investments amounting to $30 billion.
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