Due to the acceleration of the economic, financial and social challenges encountered by the Sultanate of Oman in order to diversify the sources of national economy and achieve the goals and objectives of the 9th Five Year Plan (2016 – 2020 AD.), it was inevitable to launch and initiative to address and cope with these variables.
Therefore, the National Program for Bracing the Economic Diversity (TANFEEDH) broke forth, as this program will address the challenges, difficulties and issues that encounter the government, private and civil parties and bodies towards achieving the goals and objectives of the 9th Five Year Plan (2016 – 2020 AD.), and to develop a detailed road map with the partnership from all walks of the society to put into force the solution and follow up the implementation and completion thereof.
The National Program for Bracing the Economic Diversity (TANFEEDH) comes as a National Initiative to be implemented within the framework of the 9th Five Year Plan (2016 – 2020 AD.) in collaboration with the Performance Management and Delivery Unit (PEMANDU) of Malaysia and achieve the optimal benefit to be derived from what was realized in terms of the basic infrastructure during the previously implemented and subsequent five year plans while focusing on the basic sectors targeted under the economic diversity program according to the current plan as determined under Royal Decree No. RD 1/2016 namely; the transformational industries, tourism, transportation, logistics services, mining and fishery. The Plan aims at increasing the percentage of these sectors` participation in the Sultanate Gross Domestic Product (GDP) and increase investment in the promising sectors and generating more job opportunities.
Due to the importance of setting the priorities for the coming juncture while ensuring the completion of the efforts exerted by all concerned parties, the National Program for Bracing the Economic Diversity ( TANFEEDH ) plays a pivotal role and a junction between the various strategies for each of the targeted sectors while at the same time, it serves as a crucible for sustainable partnership between the public and private sector in an endeavor to serve the interests of the society. The Laboratory Stage comes as a phase following the stage for setting and addressing the challenges that have come into force since the beginning of this year.
The project will be carried out in several phases to benefit from the results of each phase and the program will commence with the sector of the transformational industries, tourism and logistics, in addition to the financial and innovative financing sector, operation sector and the labor market as enabling sectors whereas the subsequent phase will extend to cover the mining and fishery sectors and ultimately connect all these five sectors together.
The project aims at expediting the execution of the plans in the field of boosting and enhancing economic diversity and help and render all possible support to the government to drive benefits from the best successful practices in the field of social and economic planning, allocate its budgets in projects with remarkable economic revenues and added value that will help avail job opportunities for the Omani citizens and to achieve the objectives, programs and policies for economic diversity during the Ninth five-year plan, besides setting an integral and transparent plan to increase the foreign and internal investments injected in the Sultanate of Oman and to help lift the degree of competitiveness in the different social and economic indicators and to support the related-parties for the efficient execution of their projects and plans according to the best general accepted practices in addition to improving the completion efficiency and bridge the gaps of cooperation and participation among all concerned parties and to set indicators sufficient to measure certain goals and to serve as an accurate tool for follow-up and execution, determine certain percentages of non-government capital investments, provided however that it will not be less than 80% to finance the sector`s key initiatives for the program and to increase the gross domestic product in the Sultanate of Oman.