Muscat: His Majesty Sultan Haitham bin Tarik presided over the Council of Ministers meeting held at the premises of the Council of Ministers. His Majesty expressed gratitude to Almighty Allah for the nation's blessings and prayed for a prosperous 2026, filled with achievements for Oman and its citizens.
According to Oman News Agency, His Majesty reviewed the positive growth in the national economy and improvements in financial, economic, and social indicators. He praised the efforts of government entities and policies that have bolstered fiscal sustainability, creating an attractive investment climate and invigorating various economic sectors.
The meeting highlighted the Eleventh Five-Year Development Plan (2026-2030) and the 2026 State Budget. It emphasized the need for cooperation between state institutions and the private sector to achieve economic and social goals, focusing on expanding economic sectors that would generate employment and contribute to GDP growth.
The Council of Ministers reviewed the successes and challenges of government entities in 2025, including the Central Bank of Oman and the Oman Investment Authority. The Council commended these efforts and called for continued progress to achieve Oman Vision 2040 and meet citizens' aspirations.
In a strategic move to diversify the economy, the Council approved the establishment of the "Oman Global Financial Centre." This center aims to enhance the financial sector's GDP contribution by attracting capital and fostering an investment-friendly ecosystem, ultimately creating employment and facilitating knowledge transfer.
His Majesty also directed the Council to address the societal impacts of modern technology and digital communication. The Council is tasked with developing policies to promote positive values and mitigate the adverse influence of social media.
The meeting acknowledged the 2025 employment and training initiatives' progress and urged sustained collaboration with the private sector to create sustainable employment opportunities.
The Council underscored the importance of the Government Digital Transformation Program, aiming to enhance public services through the Unified Government Services Portal, emphasizing the integration of AI technologies.
The outcomes of the third Oman-Saudi Coordination Council meeting were reviewed, with the Council expressing satisfaction and reaffirming commitment to deepen cooperation with Saudi Arabia across various sectors.
The Council discussed Oman's bilateral relations and regional and international affairs, reaffirming its foreign policy principles of good neighbourliness, positive neutrality, and non-interference. It emphasized the importance of friendly relations and cooperation with all nations for mutual benefit.
His Majesty concluded the meeting with prayers for continued success and prosperity for Oman and its people.
