Oman makes progress in international competitiveness indicators

The National Competitiveness Office announced progress for the Sultanate of Oman in several international indicators.

Oman improved by 20 places in the Corruption Perceptions Index to rank 50th globally out of 180 countries. It also advanced more than 90 places in the Environmental Performance Index to reach 55th worldwide and rose 4 places in the Network Readiness Index to rank 50th out of 133 countries.

Oman's score in the Economic Freedom Index increased from 62.9 to 65.4. The indices for Global Governance, Rule of Law, Regulatory Quality and Government Effectiveness also showed improvement.

Dr Salim Al Sheikh, Director General of Research and Development Studies at the Ministry of Economy, said that this progress is due to the efforts of national teams tracking the international indicators, the introduction of new legislation, improved governance of various entities, and the implementation of government projects within annual plans.

Dr Youssef Al Balushi, Chief Economist of Oman Vision 2040, noted the importance of these indicators in enhancing the business environment and attracting foreign investment. He indicated that the Oman 2040 vision relies on many of these indicators.