Oman is gearing up to celebrate its National Day with vibrant festivities highlighting both its rich culture and significant economic developments. This year, the celebrations coincide with increased efforts to boost trade and investment within the region, particularly through strengthened ties with neighboring Saudi Arabia.
Recently, Muscat hosted the Oman-Saudi Business Forum, focused on enhancing economic relations between the two nations. According to the Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohamad Al Yousuf, this forum is not just about political and cultural connections; it’s about creating concrete economic partnerships. He remarked, “The partnership between Oman and Saudi Arabia is based on larger foundations of integrated work between the two countries.”
The forum highlighted several key sectors for collaboration, including real estate, mining, industry, oil and gas, logistics, health, information technology, finance, retail, and food security. Notably, Al Yousuf reported a substantial growth in bilateral trade, which reached approximately 2.18 billion Omani Riyals by the end of December 2024, reflecting the growing business interactions.
The opening of the Empty Quarter border crossing has played a significant role in facilitating trade and enhancing the movement of goods and services between Oman and Saudi Arabia. This development, coupled with the signing of three cooperation agreements during the forum, is expected to pave the way for new joint ventures between businesses from both nations.
Among the agreements, there were plans to establish cloud-based inventory management systems and provide specialized legal consulting for Omani markets. Also, the establishment of a gold and jewelry manufacturing plant is set to echo the ambitious economic strategies laid out by both governments.
Meanwhile, discussions around renewable energy and growth strategies were prominent, demonstrating Oman’s commitment to sustainable development. The Omani representatives showcased various strategic partnerships, particularly focusing on projects involving renewable energy, green hydrogen technologies, and the legislative frameworks surrounding investments, which are expected to attract more foreign direct investments.
Saudi representatives also presented on investment ecosystems within their country, discussing economic diversification strategies and logistical services linking Oman’s main ports, such as Salalah, Sohar, and Duqm, with significant Saudi ports. These connections are not only expected to facilitate trade but also promote regional economic growth.
Alongside these economic milestones, Oman is also witnessing shifts within its job market as new roles are becoming increasingly available, particularly driven by technological advancements. Recent trends indicate high demand for positions such as Customer Success Engineers, Digital Identity Managers, and Chief Remote Officers, reflecting the impact of automation and digital transformation across various industries.
For example, the role of the Customer Success Engineer has surged, with over 36,000 job vacancies reported and average annual earnings reaching $133,000. Such roles are becoming indispensable as companies transition to subscription-based models reliant on customer satisfaction and retention strategies.
Similarly, the Digital Identity Manager is gaining importance with 34,329 vacancies, as organizations increasingly prioritize cybersecurity to protect user data and adhere to stringent privacy regulations.
Emergence of new roles like Renewable Energy Engineers is also noteworthy, with substantial investment aimed at transitioning to clean energy solutions. Oman’s push for sustainable practices is echoed through various training programs and initiatives to encourage skill development among its workforce.
Adding to Oman’s growth story, SalamAir, the country’s low-cost airline, announced plans for fleet expansion to meet rising travel demand. CEO Adrian Hamilton-Mans revealed the airline’s intention to acquire ten Airbus A320 aircraft to broaden its service offerings. “The demand is simply outpacing our current capacity,” he stated during interviews, reinforcing the urgency behind this expansion.
With projections to carry over three million passengers by 2024, up 20% from the previous year, SalamAir’s strategy includes increasing regional destinations and flight frequencies, contributing to both the tourism sector and local economic stability.
These developments come at a pivotal time as Oman celebrates its National Day. The heightened collaboration with Saudi Arabia, the growing demand for skilled professionals, and the expansion of SalamAir’s operations reflect the country’s commitment to economic diversification and regional integration.
Looking forward, Oman’s efforts to promote business collaboration and innovation signal bright prospects for its economy, especially as young professionals enter the workforce and contribute to the nation’s vision for growth. The National Day celebrations signify not just patriotism but also hope for continued prosperity and development.