The Gulf Common Market (GCM) covers all economic and investment services, dealings in the stock market and setting up of companies in both public and private sectors.
The first contract for the ambitious, 2,244-kilometre national railway project will be awarded by the end of 2014 and a section of the project is expected to become operational by 2018 .
The Omani SME strategy appears to be taking a more pragmatic approach, covering a range of factors deemed important for their success
Lean thinking which has spread geographically from East Asia to North America over the last half century, is now rapidly developing economies dealing with wage inflation and the challenges of high growth rates.
Oman’s recent trade growth can be attributed largely to the expansion of the hydrocarbons sector, which has accounted for more than 70 per cent of total exports in recent years
Government spending had created 36,000 private sector jobs for nationals in 2012, and a further 56,000 would be created this year.
The 2013 Index of Economic Freedom by the Heritage Foundation ignores the fact that public sector is essential during the struggling times, as demonstrated by the European sovereign debt crisis.
Government’s readiness to increase its spending and financial support for the SME sector will enable the private sector to play a bigger role in driving economic growth and creating jobs.