Oman ranks 32 in competitiveness report
Muscat, November 27, 2011
In its latest Global Competitiveness Report, the World Economic Forum (WEF) ranks Oman 32 out of 142 countries, an improvement of two places from last year and nine places from 2009.
The report highlights Oman’s macroeconomic environment, high quality infrastructure and liberal tax regime as the main reasons for the rapid growth of economic potential.
With spending on building construction expected to reach more than $27bn by 2014, according to the recently published research by strategy consulting firm, Ventures, and initiatives from the government to increase the private sector’s role in the country’s economic development, Oman is on the right track to improve its competitiveness even further.
In light of the critical importance of the construction sector for the Sultanate’s economy competitiveness, the Ministry of Housing has granted its support to the 2nd annual Oman Construction Summit set to take place at the Grand Hyatt Muscat from January 29 to February 1, 2012.
Developed in cooperation with the Ministry of Housing, the four-day summit is officially supported by Oman Chamber of Commerce and Industry and The Concrete Society (UK).
Abdul Adheem Abbas Al Bahrani, director general of Oman Chamber of Commerce and Industry, said: “The event aims at boosting relations and cooperation between public and private sector who are the main contributors to the economic infrastructure of the country. It also gathers the local and international business community to discuss the challenges in the construction industry”.
Senior representatives from the Ministry of Housing, Ministry of Transport and Communications, Special Economic Zone Authority at Duqm, Royal Court Affairs, Omran, Petroleum Development Oman, Public Authority for Electricity and Water, Rural Areas Electricity Company and Ministry of Defence Engineering Services will provide updates on infrastructure development and share their experiences in planning, implementing and supervising construction projects.
Best practices and latest trends in the industry will also be discussed by international experts from STFA Construction Group, Makyol, the British Standards Institution, Volkmann & Rossbach, Amman Institute for Urban Development, Baker Wilkins & Smith, Czech Technical University, Target, Kayson Al Omania, ABB, Arminox Gulf, Doka Muscat, Emirates Green Building Council and World Green Building Council Mena Network, Peri and Pitchmastic. – TradeArabia News Service