Muscat – His Majesty Sultan Haitham bin Tarik chaired a significant Council of Ministers meeting at Al Barakah Palace, focusing on various aspects crucial for Oman’s development.
His Majesty acknowledged the blessings bestowed on Oman by the Almighty, praying for the well-being and prosperity of the nation. The meeting highlighted economic improvements, including decreased public debt and an enhanced credit rating, showcasing efforts to strengthen the capital market.
Furthermore, a new ‘Industrial Strategy 2040’ was approved to accelerate economic diversification and promote industrial innovation in line with Oman Vision 2040. His Majesty also emphasized the development of the endowment system through the establishment of the ‘Oman Endowment Foundation’ to ensure sustainability and efficient investment practices.
The Council of Ministers also allocated funds to enhance the residential assistance program and support students on scholarships at private higher education institutions.
Addressing regional and international issues, His Majesty expressed Oman’s commitment to strengthening relations with Arab and friendly countries for mutual benefits and highlighted ongoing efforts to address challenges faced by the nation.
This meeting underscored His Majesty Sultan Haitham’s dedication to advancing Oman’s development across various sectors, ensuring a prosperous future for the nation and its citizens.