29 October 2010
CAIRO: The Sultanate has been ranked fourth in the Economic Efficiency Indicator 2010-2011 which was included in the Arab Competitiveness Report 2010 published by the World Economic Forum.
As per the indicator, which measures the quality of the product and the development of capital market, the employment of available technology and growth in adopting innovation, the Sultanate came after Qatar, Saudi Arabia and Tunisia at the Arab level and 34th at the international level following consistent improvements.
The Sultanate went up 7th position at the economic efficiency indicator compared to the ranking in 2009-2010 when it was ranked 41st at the international level.
The Sultanate also came fourth in the overall indicator for the Arab competitiveness for 2010 after Qatar, Saudi Arabia and Tunisia. The Sultanate secured 34th place at the intentional level.
Improvements
The report said the advanced ranking earned by the Sultanate was a result of the improvements witnessed by the Omani economy in the last few years.
It said these improvements reflect the Sultanate's commitment to accelerate the pace of economic development which aims at diversifying resources of national economy, reducing reliance on oil sector and ensuring sustainable economic growth.
It also pointed out that the economic development started in mid 1990 are also outlined in Oman's "Vision 2020" unveiled by the government.
The report said the Sultanate's competitiveness benefits from two key strengths: a solid institutional framework and the excellent macroeconomic environment.
The report affirmed that the Sultanate benefited from efficiency, transparency, good performance of the public institutions which are mainly attributed to the efficiency of the government.
Stability
The report said it is not surprising that the Sultanate's macroeconomic stability is high and moving forward. It pointed out to the importance of moving forward with the steps taken to develop education and public health system, both at the qualitative and quantitative levels to place the future economic growth on solid ground.
The report said the quality of education has witnessed improvement in the recent years which helped the Sultanate to achieve 52nd place in 2010 from the 63rd place in 2008 likely reflecting efforts undertaken under the "Vision 2020" agenda.
The World Economic Forum is an independent international
organisation committed to impro-ving the state of the world by enga-ging business, political, academic and other leaders of society to shape global, regional and industry agendas.
CAIRO: The Sultanate has been ranked fourth in the Economic Efficiency Indicator 2010-2011 which was included in the Arab Competitiveness Report 2010 published by the World Economic Forum.
As per the indicator, which measures the quality of the product and the development of capital market, the employment of available technology and growth in adopting innovation, the Sultanate came after Qatar, Saudi Arabia and Tunisia at the Arab level and 34th at the international level following consistent improvements.
The Sultanate went up 7th position at the economic efficiency indicator compared to the ranking in 2009-2010 when it was ranked 41st at the international level.
The Sultanate also came fourth in the overall indicator for the Arab competitiveness for 2010 after Qatar, Saudi Arabia and Tunisia. The Sultanate secured 34th place at the intentional level.
Improvements
The report said the advanced ranking earned by the Sultanate was a result of the improvements witnessed by the Omani economy in the last few years.
It said these improvements reflect the Sultanate's commitment to accelerate the pace of economic development which aims at diversifying resources of national economy, reducing reliance on oil sector and ensuring sustainable economic growth.
It also pointed out that the economic development started in mid 1990 are also outlined in Oman's "Vision 2020" unveiled by the government.
The report said the Sultanate's competitiveness benefits from two key strengths: a solid institutional framework and the excellent macroeconomic environment.
The report affirmed that the Sultanate benefited from efficiency, transparency, good performance of the public institutions which are mainly attributed to the efficiency of the government.
Stability
The report said it is not surprising that the Sultanate's macroeconomic stability is high and moving forward. It pointed out to the importance of moving forward with the steps taken to develop education and public health system, both at the qualitative and quantitative levels to place the future economic growth on solid ground.
The report said the quality of education has witnessed improvement in the recent years which helped the Sultanate to achieve 52nd place in 2010 from the 63rd place in 2008 likely reflecting efforts undertaken under the "Vision 2020" agenda.
The World Economic Forum is an independent international
organisation committed to impro-ving the state of the world by enga-ging business, political, academic and other leaders of society to shape global, regional and industry agendas.
© Times of Oman 2010
