The Business Year Oman 2023

The Business Year has charted the course of the Omani economy for a decade, and this year we focused on the Sultanate’s diversification plan and its sustainability agenda. While the country is less hydrocarbons rich than its GCC neighbors, infrastructure and renewable energy development, as well as green hydrogen, could be driving forces for growth in the years to come. Both the public and private sectors closely follow the tenets of Vision 2040, a wide-ranging blueprint for growth the kind of which has become ubiquitous across the region. The Business Year: Oman 2023 features interviews, articles, and analysis over 185 pages.

The Business Year: Oman 2024, produced in partnership with the Ministry of Commerce, Industry and Investment Promotion, is a key guidebook to the dynamic and rapidly evolving business landscape of Oman. As the nation continues to navigate its Vision 2040 objectives, recent developments have underscored its commitment to economic diversification and sustainable growth. From transformative infrastructure projects to the burgeoning tech sector, Oman is embracing innovation while honoring its rich heritage. This issue delves into the strategic initiatives driving these changes, offering a comprehensive overview of the country's economic trajectory. In this edition, we bring you exclusive insights from the minds shaping Oman's future. Our interviews with top business leaders provide a nuanced understanding of the challenges and opportunities within various industries. These conversations reveal the strategic thinking and forward-looking policies propelling Oman towards a prosperous and resilient economy. Through detailed analysis and expert perspectives, we aim to provide our readers with a thorough understanding of Oman's business environment, highlighting the key trends and developments that are setting the stage for the next phase of growth.

When the experienced TBY team landed in Muscat in September 2019 to start its seventh annual research on the Sultanate's economy, it could have never imagined the uniqueness of the times ahead. Early 2020 saw the passing away of the Father of the Nation, His Majesty Late Sultan Qaboos bin Said, and the appointment of the new leader, His Majesty Sultan Haitham bin Tariq. This was thought to be Oman's defining event in 2020, but shortly after, the COVID-19 outbreak touched every corner of the world, and oil prices continuously sunk to record lows. No doubt it is a trying time, but we see this 2020 edition of The Business Year: Oman as ushering a new era for the Sultanate. With a refreshed, forward-looking perspective, this 260-page publication analyzes how the business community is embracing innovation and technology to create a competitive, diversified economy.

Oman, for some time, has been a nation on the move. An integral part of the GCC, it is also seeking to extend its influence further afield via the development of port infrastructure that is set to make it a firm fixture on the East-West transport route. But Oman isn't developing unguided, instead sticking faithfully to Vision 2040, a wide-ranging, ambitious blueprint that foresees the development of a diverse, sustainable economy unshackled by a reliance on oil and gas, which currently plagues much of the region. In this edition, which features interviews with top business leaders from across the economy, as well as news and analysis, we cover: diplomacy, finance, Vision 2040, 4th Industrial Revolution, digital innovation, sustainability, logistics, real estate, agribusiness, and tourism and retail.

The sixth annual edition of The Business Year: Kuwait 2023 comes out at the peak of economic reawakening, as the country’s pandemic restrictions and regulations have lessened, and the local market begins to breathe once again. Thanks to the participation and support of over 130 of the country’s business and governmental leaders, this 192-page publication offers a thorough macroeconomic analysis of the Kuwaiti market. Their insight allowed us to paint an accurate picture of the local economic landscape, supported by the increasing improvements in the name of Kuwait Vision 2035, digital transformation, and further empowerment of the private sector’s role in the country’s marketplace.

Featuring dozens of interviews from across every major sector of the economy, we are confident that this publication will be a vital handbook for anybody looking to do business in Abu Dhabi.

While conducting research for The Business Year: Qatar 2024, our primary focus was on the country’s competitive strengths and how it plans to build upon the legacy established by hosting the world’s most-watched sporting event, The World Cup. As Qatar aspires not only to maintain its status as a trusted host for international events, but also to emerge as the driving force behind a flourishing global economy, we believe that this 220-page publication will serve as a vital tool for anyone seeking to engage in business endeavors in Qatar. Through this 220-page publication, featuring interviews with top business leaders from every major sector of the economy, as well as a range of articles and analysis, we present a comprehensive snapshot of the Qatari economy and the investment environment at this crucial period.

The Business Year: Kuwait 2024 arrives at a time when Kuwait is starting to make big changes, showing strong growth potential. This year, we sat down with more than 120 leading figures in Kuwait’s business and government sectors to provide the reader with a detailed snapshot of the Kuwaiti economy. Their input helped us put together a comprehensive, 200-page handbook for investors looking to understand how Kuwait Vision 2035, a wide-ranging blue-print for economic diversification, is building a new Kuwait and the role the private sector is playing. The Business Year: Kuwait 2024 is the result of seven months of in-depth research, carried out with the support of our long-time partner, the Kuwait Direct Investment Promotion Authority (KDIPA), and with support from the Kuwait Banking Association (KBA) and the German Business Council Kuwait (GBCK).