Vision 2020

The future vision (Oman 2020) is an approach that guides the Sultanate towards a sustainable and diversified economy. It aims primarily to ensure that the per capita income remains at its 1995 level as a minimum while pursuing to double it in real terms by 2020. The vision aims as well to create favorable conditions for economic progress. The government aims to use the oil and gas revenues to achieve economic diversification while playing its role towards the provision of health and education social services, training citizens and developing their skills, and pursuing such policies aimed at promoting decent standard of living.

The basic themes of the vision, according to Royal Decree 1/96 ratifying the Fifth Five-Year Development Plan, are as follows:

1- Development of human resources and Omanis’ capabilities to keep up with technical development, manage the changes therein with high efficiency and face the ever-changing domestic and global conditions.

2- Creation of a stable holistic economic climate with a view of developing a private sector able to optimize the use of human and natural resources of the Sultanate through efficient methods and maintain environment integrity.

3- Encourage the existence of a private sector that is effective and competitive and strengthen the mechanisms and institutions that promote the vision and common policies between it and the government.

4- Create favorable conditions for economic diversification and work towards the optimal exploitation of the natural resources of the Sultanate.

5- Enhance the standard of living of citizens and reduce disparities among regions and different income groups, and ensure that all citizens benefit from the development process.

6- Maintain the gains achieved during the 25 years since the beginning of the Renaissance in 1970.