Oman’s infrastructure will be boosted by 2029 explained Oman’s Ministry of Transport Said Al Mawali, speaking with Bloomberg Television as part of the Foreign Investment Forum on Thursday.
A railway system between Oman and neighbouring United Arab Emirates is being sped up and “within five years, we will have these rails rolling,” he said.
The $3billion Railway project is expected to boost Oman’s logistics contribution to GDP from 5% today. Its goal is to connect Oman’s major ports to key regional and international trade destinations and GCC markets via a reliable and efficient rail network that supports a connected, prosperous and diversified economy.
Said Al Mawali explained to Duncan Chater that there are 5 key elements to Oman’s 2040, development goals.
Logistics – which is expected to grow from 5% to 10% of Oman’s GDP by 2040 – the rail being a key element.
Fisheries – Tourism – Manufacturing and the 5th being Mining.
An umbrella within in which these will operate is a ‘carbon neutral’ economy – expected to be achieved by 2050. A zero-tax policy on electric vehicles is part of this approach. The general approach towards trucks will
Read about the rail network on Bloomberg https://www.bloomberg.com/news/articles/2023-07-06/oil-below-80-a-barrel-not-a-problem-for-oman-minister-says
Watch Said Al Mawali’s interview on bloomberg
https://www.bloomberg.com/news/videos/2023-07-06/oman-sponsor-spotlight-your-gateway-to-global-trade-video
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