Oman Vision 2040 places technology and artificial intelligence at the core of economic growth and diversification. Across the country, businesses are beginning to factor this focus into how they invest and plan for the future.

The government has made this a priority. Policies, incentives and national programmes have been put in place to make technology adoption viable across sectors, not just for large enterprises, but for the wider economy.

One of the most prominent examples is the Oman Future Fund, a RO 2 billion initiative aimed at supporting high-potential local projects. The fund is helping bolster the startup and innovation ecosystem by backing solutions that respond to the needs of a modern digital economy.

Free zones such as Knowledge Oasis Muscat and the Duqm Special Economic Zone have also become key entry points for technology investment, supported by flexible licensing and investor-friendly regulations.

Infrastructure has been another major focus. Through the National Broadband Strategy, Oman is targeting 95 per cent urban coverage by 2030. This level of connectivity lays a strong foundation for the expansion of essential digital services across the economy.

National initiatives such as the National Digital Economy Programme, Digital Oman and the AI and Advanced Technologies Programme take this groundwork further. These modernise government services and support the private sector in adopting technology and leading transformation within their operations.

These changes are already underway. Around 30 per cent of large industrial companies in Oman have begun using artificial intelligence, particularly in manufacturing, oil and gas; and logistics. Small and medium-sized enterprises face tighter constraints, mainly related to costs and skills. Targeted training programmes and financial incentives have therefore been critical in allowing SMEs to adopt digital tools gradually and sustainably.

The impact of digital transformation is evident across several sectors. In manufacturing, predictive maintenance powered by AI has reduced unplanned downtime by as much as 50 per cent.

In financial services, fraud detection tools and data analytics have lowered losses and improved service quality. In retail, intelligent recommendation engines and data-driven analysis have helped businesses better understand customers and improve sales performance.

At Oman Refreshment Company (Oman REFCO), digital transformation has been led by operational needs. We have introduced advanced ERP systems, automated sales and customer service processes; and implemented real-time monitoring across manufacturing operations. The result has been better visibility and measurable gains in efficiency and product quality.

Technology is also influencing employment patterns. Estimates suggest that placing 20 per cent of SMEs on digital platforms could generate between 150,000 and 200,000 jobs, particularly in digital marketing, design, accounting and logistics. In parallel, the AI sector attracted around RO 60 million in investment in 2024, with funding expected to grow by about 20 per cent annually as startups expand.

Skills availability is an important consideration, particularly as artificial intelligence and advanced technology require specialised expertise. Encouragingly, the government is integrating AI into education and professional training programmes to help assemble a capable and prepared workforce.

Oman’s digital environment is also opening the door to new investment opportunities. Reliable infrastructure and regulatory consistency are making the country increasingly attractive to foreign investors. Continued alignment with successful regional experiences, particularly in the UAE and Saudi Arabia, will help refine policies as the ecosystem matures.

At Oman REFCO, digital transformation has been structured around four major initiatives. These include assessing digital readiness using the SIRI Index in collaboration with the Ministry of Commerce, Industry and Investment Promotion, and Yokogawa; completing a rapid migration from Oracle to SAP; fully digitising sales operations through RoutePro; and implementing line visibility systems across manufacturing.

Oman’s digital economy is well underway. With consistent cooperation across sectors and investment in local talent and infrastructure, the ambitions of Oman Vision 2040 are in clear sight.

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