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Gulf Press > Uncategorized > Using the Governorates Competitiveness Index as a strategic tool to guide investments
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Using the Governorates Competitiveness Index as a strategic tool to guide investments

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Last updated: 2024/05/25 at 4:51 PM
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The ‘Governorates Competitiveness’ Index, launched by His Highness Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth, within the Governorates Economics Forum, aims to be a strategic tool for directing investments and determining development priorities in Oman. This index will play a crucial role in ensuring the success of the goals of Oman Vision 2040, strengthening the national economy, and maximizing the economic and social impact of development projects. Dr. Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy, highlighted that the index will measure and evaluate the development performance of governorates, their capabilities, and competitiveness using a set of standards and indicators covering economic and social aspects, infrastructure, education, health, and more.

This new index will provide a comprehensive picture of development performance and identify gaps in each governorate, allowing for better decision-making based on accurate data assessment. By helping to direct policies and investments to reduce disparities in certain areas, the index has the potential to enhance the competitiveness of the governorates and promote sustainable development. Based on the four basic pillars of Oman Vision 2040, which include economy, development, people, society, governance, environment, and performance evaluation, the index will focus on driving the development of governorates and achieving the goals set by Oman Vision 2040. The Ministry of Economy will oversee the index and collect statistics from various bodies to provide the government with comprehensive data on the performance of each governorate.

Implementation of the index is expected to take place this year, with relevant authorities participating after the pilot phase concludes. The cooperation of the United Nations Economic and Social Commission for Western Asia (ESCWA) will be sought to establish a direct link between ESCWA data and the National Centre for Statistics and Information. This partnership will further strengthen the accuracy and reliability of the data collected for the index, ensuring that it serves as a valuable tool for driving investment, development, and sustainability in Oman’s governorates. With the Governorates Competitiveness Index in place, Oman is poised to make significant strides towards achieving its development goals and enhancing the overall economic and social well-being of its people. The index will serve as a guiding framework for decision-making and resource allocation, ultimately leading to more balanced and inclusive development across the country.

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News Room May 25, 2024
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