Oman: 25 Years of Progress

Analysis

The legislative change in Oman during the last 25 years has been immense.

A vast range of treaties and primary and secondary legislation now pervades the legislative system with a key focus: to modernise the legislative framework and bring it into line with some of the other more mature global economies. In turn, Oman's economy has grown and flourished. This growth occurred during a period in which the price of Oman's main export, oil, peaked and the Government of Oman recognised that a plan for economic diversification ought to become a priority. That plan became urgent in the latter part of 2014 and during 2015 as Government revenues reduced in line with the falling cost of oil. In line with previous iterations, Oman unveiled its ninth five year plan under the Vision 2020 economic programme to reflect prudent and realistic goals for the future.