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    Home MIDDLE EAST and NORTH AFRICA Oman

    HM reviews role of private sector in driving economic growth

    The Analyst by The Analyst
    June 17, 2026
    in Oman
    HM reviews role of private sector in driving economic growth


    Muscat: His Majesty Sultan Haitham bin Tarik presided over the Council of Ministers meeting at Al Barakah Palace on Monday.

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    At the outset of the meeting, His Majesty gave thanks and praise to the Almighty Allah for the plentiful riches, and supplicating Him to perpetuate His gifts and abundant bounties bestowed upon this cherished nation, its noble people and residents, and to protect our beloved country, Oman, its people, and all the peoples of the world, and to grant them lasting security and stability. His Majesty further prayed that Almighty Allah bless all sincere efforts aimed at achieving accomplishments and aspirations. His Majesty then reviewed a number of subjects. In light of His Majesty’s commitment to building a competitive economy in which the private sector is empowered to fulfill its role in driving economic development, supporting domestic investments and attracting foreign capital, His Majesty directed the establishment of the Economic Coordination Council, to be chaired by His Highness the Deputy Prime Minister for Economic Affairs.

    The Council aims to harmonise government policies with the needs of the private sector, anticipate global economic trends, foster the growth of economic sectors, maximise the private sector’s contribution to economic growth, and ensure that public policies are directed towards a more diversified and balanced development model.

    In continuation of His Majesty the Sultan’s commitment to entrenching the principle of Shura, and as a further step in the evolution witnessed by the Shura Council’s journey over the past period, and with the aim of enhancing the active participation of Omani women in all aspects, His Majesty has directed the allocation of an additional seat for women in each governorate, bringing the total to eleven seats, to be added to the general seats available for candidacy.

    After the Council of Ministers reviewed the results of the performance evaluation of government institutions for 2025 — which, thanks be to Allah, have shown notable improvement since the Government Institutions Performance Measurement Unit began its work in 2022 — His Majesty commended the government entities with the highest performance as well as those that demonstrated the greatest improvement. His Majesty stressed the importance of translating this progress into greater satisfaction among citizens and residents, a more favourable business environment, and the advancement of Oman Vision 2040 indicators.

    In light of the rapid proliferation of digital media platforms and their widespread use by a large segment of children, His Majesty has directed the relevant authorities to examine the issue from its various angles, assess its implications, and formulate the necessary controls and mechanisms to regulate children’s use of these platforms.

    This is intended to assist families in guiding their children and managing their optimal engagement with such media, drawing on leading international expertise in this field.

    Driven by the Council of Ministers’ steadfast attention to cybersecurity alongside digital economy programmes, emphasis was placed on the necessity for all government entities to accord the requisite priority to cybersecurity projects within their plans and programmes, and to address challenges encountered in this regard on an ongoing basis, in coordination with the relevant authorities.

    This is to be undertaken in light of the rapid developments witnessed in the technologies employed in this sector.

    Given the importance of establishing a comprehensive institutional framework for the management of government assets to ensure their optimal utilisation, enhance governance and oversight, and transform them into a resource supporting economic development, the Council of Ministers has approved the establishment of the Government Assets Authority.

    The Authority shall be responsible for the management and investment of the state’s fixed assets in accordance with the highest standards of transparency, in pursuit of maximising their investment returns and transforming them into a sustainable economic resource that supports the state’s general budget.

    The Council of Ministers also reviewed the efforts undertaken by all units of the state administrative apparatus and the private sector concerning the employment file, commending the national endeavours of both the government and private sectors to advance the national employment programme and related initiatives aimed at providing job opportunities for citizens.

    The Council further stressed the importance of raising employment targets and redoubling efforts to open wider horizons for securing job opportunities for citizens.

    His Majesty having commended the launch by the Sultanate of Oman of the “Muscat Plan” in collaboration with the United Nations — a practical embodiment of Oman’s deeply rooted principles reflecting the Omani approach grounded in dialogue, understanding and the building of humanitarian partnerships — the Council affirmed the Sultanate of Oman’s steadfast position of respecting state sovereignty, non‑interference in the internal affairs of other nations, and its enduring commitment to good neighbourly relations and constructive cooperation with all countries, as well as its consistent call for recourse to dialogue and diplomacy to resolve disputes, in order to preserve lives and the region’s resources.

    The Council of Ministers welcomed the understanding reached between the United States of America and the Islamic Republic of Iran, expressing its appreciation for the regional and international efforts undertaken, particularly the constructive role played by the member states of the Gulf Cooperation Council and the Islamic Republic of Pakistan in shielding the region from threats to its security and stability.

    In this regard, His Majesty commended the swift response and dedicated efforts of the military and security apparatuses in defending the nation. His Majesty stressed the importance of constant vigilance to protect security and stability, as well as Oman’s neutral and balanced role in upholding the principles of justice and law, and its commitment to the safety and security of maritime navigation and the freedom of passage in its territorial waters in the Strait of Hormuz, in accordance with international law.

    In light of the global economic repercussions of recent events, and having commended the efforts and measures taken by the relevant authorities in both the public and private sectors to secure the supply of goods, facilitate transport procedures, and ensure the movement of individuals and trucks, His Majesty affirmed the importance of continuing these efforts and of integrating national and regional work systems, including joint Gulf action among the member states of the Gulf Cooperation Council.

    This is aimed at mitigating the adverse effects of the events and ensuring a high state of readiness for response and coordination in this regard. His Majesty further directed the provision of a package of support measures to national economic sectors, particularly small and medium enterprises that have been directly affected, in order to alleviate the burden of the aforementioned impacts.

    His Majesty also commended the Omani character evident in the proposals put forward by citizens, which best express the poise that distinguishes the Omani personality when addressing various issues. He further praised the role of Omani media in articulating the Sultanate of Oman’s positions on different events and matters, guided by an approach of rationality and balance in discourse and by the primacy of the national interest.

    In the context of reviewing bilateral relations with a number of sisterly and friendly nations, as well as the visits received by the Sultanate of Oman over the past period, His Majesty affirmed the importance of leveraging the Sultanate of Oman’s cordial relations with various countries and translating them into enhanced mutual benefits that strengthen economic ties, serve the common interests of all, and help ensure lasting prosperity and stability for the region and all the peoples of the world.

    At the conclusion of the meeting, His Majesty the Sultan offered prayers for all, beseeching the Almighty Allah to grant them continued success in all that brings goodness and prosperity to this beloved nation and its loyal people.



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