Muscat: This year’s festivities highlight Oman’s journey of comprehensive development, guided by a visionary approach to progress across diverse sectors while preserving past accomplishments.

His Majesty’s steadfast emphasis on improving institutional performance has been pivotal over the past five years. The National Vision 2040, which aims to establish Oman as a leader in sustainable development and global competitiveness, has witnessed notable milestones under his reign. Economic reforms have reduced public debt from RO 20.8 billion in 2021 to RO 14.4 billion in 2024, while the GDP ratio of public debt fell to 35%, down from 62.3% in 2021.

Revenue growth remains robust, with the state’s general revenues reaching RO 8.1 billion by August 2024—an increase from RO 7.9 billion in 2023. Key reforms, including the unification of retirement systems and the restructuring of social benefits, underscore the government’s commitment to social welfare.

Oman’s economic achievements have garnered international recognition. Credit rating agencies, including Standard & Poor’s and Moody’s, upgraded Oman’s ratings, reflecting its strong fiscal policies. The Sultanate advanced 39 places in the 2024 Index of Economic Freedom, now ranked 56th globally, and secured 11th place in the global Entrepreneurship Index.

Foreign direct investments surged by 21.6%, reaching RO 25 billion by the end of 2023, bolstered by strategic initiatives led by the Oman Investment Authority. Projects like the Duqm Refinery and the Manah Solar Energy Project further cement Oman’s position as an attractive investment hub.

Oman has prioritized sustainability, launching large-scale renewable energy projects and smart city developments, such as Sultan Haitham City. In the industrial sector, investments through Madayn exceeded RO 177 million in the first half of 2024. Ports and free zones continue to play a vital role in trade, handling millions of containers and tons of cargo while driving logistics growth.

Tourism also thrives, with nearly four million visitors recorded in 2023—a 36.7% increase compared to the previous year. Oman now boasts 895 hotel establishments and significant global recognition for its rich heritage and natural beauty.

Oman’s cultural aspirations are embodied in projects like the Oman Cultural Complex, which aims to preserve and celebrate the nation’s arts and history. Education has also flourished, with Sultan Qaboos University ranking among the top 400 universities globally for 2025.

On the political level, the Sultanate of Oman always emphasizes the constants of its foreign policy based on the principles of good neighborliness, non-interference in the internal affairs of others, establishing a fair system for the exchange of benefits and interests, establishing the foundations of stability and peace and contributing to them positively, and that dialogue and tolerance be an approach to addressing all issues and challenges to achieve peace and relations based on mutual respect, positive cooperation and harmony between countries.

In its speech before the 79th session of the United Nations General Assembly, the Sultanate of Oman stressed that its leadership, government and people believe in using legitimate and peaceful means to resolve issues and conflicts. From this standpoint, it called for an immediate cessation of fighting and ceasefire in the Gaza Strip, Lebanon and the Red Sea region, and addressing the causes of the conflict by ending the illegal Israeli occupation of the Palestinian territories, achieving justice for the Palestinian people on the basis of the two-state solution and establishing an independent Palestinian state with East Jerusalem as its capital on the 1967 borders.

Under the wise leadership of His Majesty Sultan Haitham bin Tariq Al Said, may God protect and preserve him, the leader of its renewed renaissance, the Sultanate of Oman continues its journey towards a promising and bright future to achieve its aspirations for remarkable progress and comprehensive growth through more achievements that fulfill the aspirations of everyone living on this good land.