Muscat: The World Bank commended the Sultanate of Oman’s sweeping economic reforms under Vision 2040, highlighting the country’s commitment to sustainability, global economic integration, and private sector growth.

The report underlined Oman’s strategic focus on developing human capital and enhancing educational quality, particularly through the promotion of research, innovation, and entrepreneurship. The Vision has seen the launch of several initiatives to fund research and transform academic ideas into viable market products. Innovation hubs, business incubators, and start-up support programs have been established across the country to harness youth potential, with both public and private sector collaboration driving this transformation.

Oman’s regulatory reforms have also drawn praise for creating a more conducive environment for foreign investment and for revitalizing the private sector. Key infrastructure developments — notably the modernization of ports, airports, and free zones — are central to this economic shift.

The article specifically spotlighted the Duqm Special Economic Zone, alongside ongoing advancements at the ports of Salalah and Sohar, as evidence of Oman’s growing role in global supply chains.

According to the World Bank, the tangible results of these reforms are already becoming evident. Non-oil sectors — including manufacturing, transportation, construction, food, and water security — are experiencing robust growth, with major development projects now underway across Oman’s various governorates.