Muscat: Tanfeedh initiatives are expected to create more than 10,000 jobs for Omanis in the tourism sector by 2020, according to Talal Al Rahbi, the programme’s general coordinator. “By attracting at least 1.8 billion [Omani] riyals [Dh17.12 billion] of private investment, the number of international tourist arrival will be increased form 1.9 million to 2.7 million,” Al Rahbi said.
Tanfeedh, the National Programme for Enhancing Economic Diversification, opened its three-day exhibition at Oman Convention and Exhibition Centre on Monday, with visitors flocking to witness a visual representation of 121 projects and initiatives, which are the product of sector-based “Labs” conducted over 6 consecutive weeks earlier this year.
In line with the 9th 5-year plan, the resulted projects and initiatives cover three main sectors (manufacturing, logistic and tourism), as well as two economic enablers (finance and employment). If realised, these initiatives will generate investment opportunities of 16.3 billion riyals (14 billion riyals from the private sector, 1.5—2.5 billion riyals from the public sector). They will be implemented by the respective ministries and related private sector parties, with the support of the “Delivery Support and Follow-up Unit” established by the Royal Decree No. 50/2016, reported Oman News Agency (ONA).
Tanfeedh urges the introduction of easier visa process including cut waiting times from 12 months visa process to only five working days, aims to speed up the labour market in the country.
Tanfeedh also proposed to establish a dedicated court to resolve the labour disputes aims to cut down long case resolutions and inconsistent judgements.
New investments in the renewable energy projects will contribute to 10 per cent of the total power produced from the renewable energy including solar and wind energy by 2050. The logistics sector is expected to contribute 4.2bn and to create 7,000 jobs for Omanis by 2020.
Tanfeedh is a national initiative carried out as part of the 9th Five-Year Development Plan (2016-2020), in collaboration with the Malaysian government’s Performance Management and Delivery Unit. It aims to raise non-oil revenues in the future.
Oman has been cutting state subsidies and introducing other austerity measures to curb a budget deficit of 4.02b riyals in the first seven months of 2016, up from a deficit of 2.39b riyals the previous year. The Ministry of Finance has issued 20 circulars so far this year aimed at controlling and managing spending