POWER UP
Fixed broadband rates have lagged behind, though the Omani government's development plan should help bring new competition into the country to meet its goals of full access by 2040.
Oman's economic development has included high levels of technology adaption and penetration. Access has been steadily rising to be on par with other developed countries, with mobile and broadband penetration rates among the highest in the Middle East and new competition breathing life into the telecoms sector as foreign entrants look to take advantage of a young and connected Omani population. Technology is also central to the Omani government's goals of value-added industry and human capital, and new IT applications in schools and businesses have led to the creation of a burgeoning tech industry working to find new solutions to the problems facing the Sultanate.
The trend in the Middle East has been for mobile phones to become the main source of internet access, and Oman is no different; mobile platforms have overtaken traditional fixed lines to become the means through which most Omanis access the internet. According to the Omani government's Telecommunications Regulatory Authority (TRA), there were more than 6.8 million mobile subscribers as of 4Q2016, a penetration rate of 151%; in contrast, just under half of all households had fixed internet service. Oman is served by five mobile operators. The market leader is Omantel, which is majority owned by the Omani government, but Ooredoo, a Qatari-owned firm is a close second. The two have long controlled the Omani mobile phone market, but the arrival of mobile virtual network operators (MVNOs) has shaken up the market. By renting space on Omantel and Ooredoo's networks to offer lower-cost services, MVNOs have rapidly carved out a chunk of market share by targeting younger, low-income consumers. MVNOs FRiENDi and Renna were the first such entrants in the Middle East market when they arrived in Oman in 2009, and within a year after launch they had combined to take an 8% market share. As of the end of 2016, MVNOs represent 16% of the Sultanate's mobile phone market, and a third tender planned for 2017 should bring another new entrant to the market, further improving options for consumers.
While broadband has lagged behind, the Omani government has been working to increase fixed access for households. The Oman National Vision 2040 development plan calls for every home and business to have broadband access by 2040, an ambitious goal for the Oman Broadband Company, the lone broadband installer currently active. Obstacles to increased broadband penetration include challenging geography that makes it expensive to lay new broadband lines in the rural areas that make up 23% of the Omani population and a lack of competition that has curbed new investment, but the government approved a National Broadband Strategy in August 2016 that lays out a plan to overcome these obstacles. The strategy has three main components: restructuring telecom regulation, raising demand, and installing new infrastructure. By streamlining regulation to facilitate new entries to the broadband market, the Omani government hopes to increase competition, lowering prices and spurring new investment that will ultimately benefit consumers. To raise the demand that will attract new arrivals to the market, the government is also investing in new programs targeting students and businesses to make broadband a more integrated part of the Omani economy.
This latter effort also speaks to the Omani government's larger efforts to incorporate available technology into existing sectors for social and economic development. Healthcare, education, and public safety have been identified as three areas where increased broadband access can reap benefits by improving efficiency and allowing for new international connections. In education, for example, the Omani government sees great potential in distance education to give rural citizens the ability to access previously unavailable resources, increasing human capital and building a more skilled and capable country. Similar benefits are available by giving healthcare providers virtual access to rural communities via technology. Well aware of the need to back these dreams with investment, the Omani government has been using its wealth to fund opportunities and make up for the shortcomings of the Sultanate's small venture capital sector. In 2016, the Oman Investment Fund launched a USD200-million technology fund that will invest in start-ups both nationally and regionally, leading the push toward a stronger sector and more diversified Oman.
POWER UP
TABLE OF CONTENTS
Focus: Oman-Iran Relations
Nothing Personal
A new automotive production venture and undersea gas pipeline project highlight the long-term and historic friendship between Oman and Iran, underscoring their policies of transparency and non-interference with the aim of achieving the best possible conditions for the economies and people of both countries.
read articleInterview
Abdullah Nasser Abdullah Al Bakri, Minister , Manpower (MoM)
TBY talks to Abdullah Nasser Abdullah Al Bakri, Minister of Manpower (MoM), on its ongoing efforts to boost Omanization across sectors, streamlining the employment process in the private sector, and developing human resources in the country.
read articleInterview
HE Talal Al Rahbi, Deputy Secretary General , Supreme Council for Planning (SCP)
TBY talks to HE Talal Al Rahbi, Deputy Secretary General of the Supreme Council for Planning (SCP), on its key responsibilities, ensuring a more sustainable policy, and the importance of economic diversification.
read articleInterview
Dr. Hilal Al-Qamshoey, Project Director, Oman National Spatial Strategy (ONSS)
TBY talks to Dr. Hilal Al-Qamshoey, Project Director of Oman National Spatial Strategy (ONSS), on the importance of addressing the challenges to growth, assessing potential, and attracting greater FDI.
read articleInterview
Khalid Al Yahmadi, CEO, Muscat National Development and Investment Company (ASAAS)
TBY talks to Khalid Al Yahmadi, CEO of Muscat National Development and Investment Company (ASAAS), on its projects to diversify Oman's economy, sectors with growth potential, and its goals for 2018.
read articleCommuniqué: Ithraa
Exports Matter
Exports matter because they represent the very sectors that drive wealth, attract investment and talent, boost productivity and innovation, and generate employment. Industry accounted for 47.6% of Oman's GDP in 2017 and our non-oil exports were over USD6.2 billion. Today, Omani firms export to 135 countries.
read articleInterview
Khalifa Abdullah Al-Barwani, CEO, National Center for Statistics and Information (NCSI)
TBY talks to Khalifa Abdullah Al-Barwani, CEO of the National Center for Statistics and Information (NCSI), on the many benefits of its information apps, the growing focus on logistics, and supporting the public and private sectors with valuable data.
read articleInterview
Dr. Dhafir Awadh Al-Shanfari, CEO, Oman Authority for Partnership for Development (OAPFD)
TBY talks to Dr. Dhafir Awadh Al-Shanfari, CEO of Oman Authority for Partnership for Development (OAPFD), on the goals of the authority, its current projects, and its focus for the medium term.
read articleInterview
Khalid bin Al Safi Al Haribi, Acting CEO, Public Authority for SMEs Development (Riyada)
TBY talks to Khalid bin Al Safi Al Haribi, Acting CEO of the Public Authority for SMEs Development (Riyada), on instilling an entrepreneurship culture amongst Omanis, key areas for development, and doing more with less.
read articleInterview
Yaqoob Saif Al Kiyumi, CEO, Oman Power and Water Procurement Company (OPWP)
TBY talks to Yaqoob Saif Al Kiyumi, CEO of Oman Power and Water Procurement Company (OPWP), on the challenges of growing water and electricity demand, planning for renewable energy projects, and its key objectives in the long term.
read articleInterview
HE Tahir Bin Salim Bin Abdullah Al Amri, Executive President, Central Bank of Oman (CBO)
TBY talks to HE Tahir Bin Salim Bin Abdullah Al Amri, Executive President of the Central Bank of Oman (CBO), on revising the country's FDI laws, financing the fiscal debt via issuing bonds, and its efforts to promote SMEs.
read articleInterview
HE Abdullah Salim Al Salmi, Executive President, Capital Market Authority (CMA)
TBY talks to HE Abdullah Salim Al Salmi, Executive President of the Capital Market Authority (CMA), on promoting greater activity in the financial services sector, encouraging investors to go beyond the banking sector, and its upcoming projects.
read articleInterview
Dr. Ashraf bin Nabhan Al Nabhani, Chairman, Muscat Securities Market (MSM)
TBY talks to Dr. Ashraf bin Nabhan Al Nabhani, Chairman of Muscat Securities Market (MSM), on the evolution and maturity of the stock market, increased privatization initiatives, and plans to demutualize.
read articleInterview
Murtaza Jariwala, Executive Director, Vanguard Engineering & Oilfield Service
TBY talks to Murtaza Jariwala, Executive Director of Vanguard Engineering & Oilfield Services, on manufacturing and value addition, successful long-term partnerships, and how to best thrive as a truly local company.
read articleInterview
Hilal Mohammed Hamoud Al Busaidi, CEO, Public Authority for Mining (PAM)
TBY talks to Hilal Mohammed Hamoud Al Busaidi, CEO of the Public Authority for Mining (PAM), on increasing metal exploration, sharing the risk with investors, and banking on the rare commodity of quality.
read articleInterview
Dr. Salim Sultan Al Ruzaiqi, CEO, Information Technology Authority (ITA)
TBY talks to Dr. Salim Sultan Al Ruzaiqi, CEO of Information Technology Authority (ITA), on facilitating the investment experience in Oman, taking a coordinated approach to cybersecurity, and giving young people the right exposure.
read articleInterview
Firas A. H. Al-Abduwani, Founder & CEO, Hussam Technology Company (HTC)
TBY talks to Firas A. H. Al-Abduwani, Founder & CEO, and Mohammed Al-Abduwani, COO of Hussam Technology Company (HTC), on making Oman a better place to do business, meeting an ever-expanding customer base, and diversifying one's project capacity.
read articleInterview
Sheikh Aimen Ahmed Sultan Al-Hosni, CEO, Oman Airports Management Company (OAMC)
TBY talks to Sheikh Aimen Ahmed Sultan Al-Hosni, CEO of Oman Airports Management Company (OAMC), on providing a functioning operational platform, top notch end-to-end logistics, and creating competitive advantages for Omani shippers.
read articleFocus: Integrated Tourism Complexes
A Land for All
Oman's integrated tourism complexes (ITCs) allow foreign nationals to own property on a freehold basis. They have given the country's tourism and real estate sectors an innovative boost and might pave the way for further liberalization.
read articleInterview
HE Hamed Said Al-Oufi, Undersecretary, Fisheries Wealth of the Ministry of Agriculture & Fisheries Wealth
TBY talks to HE Hamed Said Al-Oufi, Undersecretary of Fisheries Wealth of the Ministry of Agriculture & Fisheries Wealth, on food security, opportunities for development in the industry, and new infrastructure projects.
read articleInterview
Eng. Saleh M. Al Shanfari, CEO, Oman Food Investment Holding Company (OFIC)
TBY talks to Eng. Saleh M. Al Shanfari, CEO of Oman Food Investment Holding Company (OFIC), on Oman's competitive advantages in food, growing demand for diverse food products, and becoming a regional food hub.
read articleInterview
Ahmed Akaak, Chairman, Oman National Livestock Development Company (ONLDC)
TBY talks to Ahmed Akaak, Chairman of the Oman National Livestock Development Company (ONLDC), on partnerships to boost the quality of animal feeds, the agriculture industry, and the Sultanate's national economy.
read articleReview: Education
New School
Oman's education sector has made massive strides in recent years, and moving forward, government officials see improving teacher quality and increasing international exchange as keys to giving a young and growing population the tools they need for the future.
read articleInterview
HE Dr. Hamood Khalfan Al Harthi, Undersecretary of Education & Curriculum , Ministry of Education
TBY talks to HE Dr. Hamood Khalfan Al Harthi, Undersecretary of Education & Curriculum of the Ministry of Education, on meeting international standards, increasing the teaching staff, and implementing reforms.
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