Innovation plan to help achieve Oman Vision 2040

Oman Saturday 24/December/2022 21:09 PM
By: Times News Service
Innovation plan to help achieve Oman Vision 2040
Vision 2040 is a roadmap that will help Oman gain a place within the global competitive landscape through diversified and sustainable economic measures.

Muscat: The Sultanate of Oman’s National Innovation Strategy (NIS) for sustainable development is expected to play a key role in realising the objectives of Oman Vision 2040, according to leading experts.

Dr. Sharifa bint Hamoud Al Harthy, expert for support of key programmes and quality control in the Unit of Implementation of Oman Vision 2040, said: “Oman is in the process of establishing a National Integrated Strategy aimed to achieve sustainable development in economic and social sectors. Innovation has become one of the main pillars of Oman 2040 Vision and research will be the key component in this regard.”

Dr Sharifa said: “Research is one of the important factors that empowers innovation towards the establishment of a versatile, robust economy based on knowledge and innovation.”

The Sultanate of Oman is keen to integrate the dimensions and goals of sustainable development into its development strategies and plans, and to allocate budgets to ensure their achievement in the medium and long term.

Khalid bin Hamoud Al Hinai, Director of the National Bureau for Intellectual Property at the Ministry of Commerce, Industry and Investment Promotion (MOCIIP) said: “The ministry pays due attention and care for protection of intellectual property as a key factor that encourages and attracts investment in the country.”

He said that the ministry has begun drafting a national plan for intellectual property with the help of a national action team comprising various stakeholders.

Al Hinai said: “Intellectual property is a vital tool for economic development that boosts trades and encourages fair competitiveness.”

Vision 2040 is a roadmap that will help Oman gain a place within the global competitive landscape through diversified and sustainable economic measures.

Dr. Ayman bin Abdullah Al Fudhaili, Chief Executive Officer of Industrial Innovation Academy (IIA) said: “Oman Vision 2040 focuses on the creation of an integrated and competitive economy.”

He said that the Industrial Innovation Academy was established to raise the percentage of local content (products and services) and to enhance industrial innovation through several strategic programmes in partnership with various related parties.

Dr. Mohammed bin Fa’eil Al Arami, specialist in establishment and development of innovative abilities and skills, said: “Oman Vision 2040 is the Sultanate’s gateway to the future industries with innovation a key factor common in all strategic objectives. The objectives include establishment of a competitive and sustainable economy.”

Dr. Rajab bin Ali Al Ouaisi, expert of social studies and education at the State Council, said: “Transforming the society towards innovation should start from the educational institutions. However, innovation should not be restricted to only educational institutions or research centres and labs but also be introduced in factories and workshops.”

Vision 2040 identifies 12 national priorities covering the entire spectrum of Omani life. Key priorities include creating a strong administrative and regulatory framework that facilitates job creation, in addition to investment and business growth that are central to building new sustainable infrastructure.

Key goals
Citizen well-being through healthcare and education, and ensuring fair distribution of development gains across the governorates are other key goals. The Vision also aims to ensure that protecting the nation’s natural resources and unique environment requirements are balanced with economic growth.

The Vision 2040 is certainly the government’s environmental, social and governance (ESG) blueprint. The emphasis is to have new economic growth aligned with global environmental standards, and progress should be inclusive and socially cohesive, while governance should be equitable, fair and lead to sustainable growth.

The focus on a diversified economy, sustainable cities and the development of aquatic resources and tourism underscores the Sultanate of Oman’s desire to achieve growth that is in line with global ESG standards.

(With inputs from ONA)