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Friday, August 22, 2014  

Sultanate’s steady growth highlighted
MUSCAT The flow of investment into the Sultanate has increased sharply in the last 40 years of the Blessed Renaissance under the leadership of His Majesty Sultan Qaboos Bin Said according to reports published by rating agencies and international organisations.

The steady growth in investment is expected to boost the economy, activate the private sector and increase job opportunities.

According to the UN Human Development Report 2010, the Sultanate tops the list of 135 countries in terms of human development, thanks to major achievements in health and education fields.

The Doing Business Report published by the World Finance Organisation and World Bank in November 2010 showed that the Sultanate improved its ranking to 57 among 183 countries, compared to 65 in 2009.

The Competitiveness Report published by Institute of Management Development in Switzerland showed that the Sultanate jumped from 31st position in 2004 among 61 countries to 15th in 2009 among 58 countries.

In the infrastructure sector, the Sultanate achieved a leading position in terms of development, planning, and spending on roads, airports and seaports. The country came 8th among 58 countries.

Moody’s, in its February 2010 report on credit worthiness, raised the Sultanate from A2 group to A1 for government bonds in local and foreign currencies. Standard and Poor’s also classified the government bonds among A group for long terms and A1 group for short terms. The Sultanate was ranked 36th among 141 countries in the Economic Freedom Report by Frazer Establishment in Canada.

Oman News Agency
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