Oman’s digital economy has reached an estimated value of RO3 billion (approximately $7.7 billion) between 2021 and 2024, reflecting the sector’s steady expansion as the country accelerates its economic diversification strategy.
The figures were presented during the second Ramadan evening hosted by the Oman Chamber of Commerce and Industry, which focused on priorities under the country’s 11th Five-Year Plan for 2026–2030. The event was held under the patronage of H E Sayyid Ibrahim bin Said Al Busaidi, Minister of Heritage and Tourism, and attended by senior officials.
As part of the country’s technology development efforts, Oman’s semiconductor sector has grown to include four operating companies with investments exceeding RO50 million. The sector has also trained more than 200 individuals and created employment for over 100 specialists.
H E Dr Nasser bin Rashid Al Maawali, Undersecretary at the Ministry of Economy, said the upcoming development plan aims to strengthen private sector participation in economic growth and job creation.
The strategy targets an average real GDP growth rate of around 4 percent, while increasing the private sector’s contribution to 56 percent of GDP at current prices. Private investment is expected to account for 21 percent of GDP, with foreign direct investment projected to reach 11 percent.
The plan also aims to create around 300,000 direct jobs for Omani citizens over the five-year period, averaging about 60,000 jobs annually.
