His Majesty allocates OMR 50 Million to boost private sector employment

Muscat: His Majesty Sultan Haitham bin Tarik presided over the Cabinet meeting at Al-Maamoura Palace in the Wilayat of Salalah, where significant national decisions were made to support employment, education, and economic development.

During the meeting, the Council of Ministers, chaired by His Majesty, approved an additional allocation of OMR 50 million to bolster employment programs in the private sector. This funding will supplement the 1.2% levy collected from the oil and gas sector, government entities, and companies under the Oman Investment Authority. His Majesty emphasised the importance of ensuring sustainability in job opportunities created under this initiative, affirming that employment remains a key national priority.

In line with ongoing social welfare efforts, His Majesty also directed the allocation of OMR 72 million from the state’s general budget to finance the family support benefit program under the Social Protection Fund, which was recently launched.

Recognizing the growing need for educational infrastructure, the Council approved an additional OMR 40 million under the current five-year plan to accelerate the construction of new schools, particularly in governorates experiencing a rise in student populations. His Majesty extended best wishes to students for the new academic year, commending the dedication of educators and academics in preparing Oman’s future generations.

His Majesty expressed satisfaction with the decline in public debt, noting the positive impact it has had on boosting confidence in the local economy and creating a more attractive environment for economic growth.

In a significant move toward digital transformation, the Cabinet also approved the National Program for Artificial Intelligence and Advanced Digital Technologies. This initiative aims to improve Oman’s ranking in the Government Readiness Index for AI, encourage the adoption of emerging technologies, and increase the number of local tech companies developing innovative solutions for the economy and development sectors.