OMAN MARKS 55TH NATIONAL DAY, STRENGTHENS RESOLVE TO ACHIEVE VISION 2040

KUALA LUMPUR, Nov 24 (Bernama) -- Oman commemorated its 55th National Day this month and reaffirmed commitment to advance the nation’s progress towards achieve the Vision 2040.

Omani Ambassador to Malaysia Sheikh Al-Abbas Ibrahim Al Harthi said the year 2025 has marked significant milestones for Oman, particularly in economic and financial modernisation, as demonstrated by enhanced efficiency in public expenditure, attainment of investment-grade credit ratings, and formalisation of international agreements that foster innovation and entrepreneurship.

He said Oman is poised to introduce a progressive income tax system designed to ensure equity and broaden revenue streams.

Non-oil sectors now account for over 65 per cent of the gross domestic product, while public debt has been reduced to around 35 per cent.

“In alignment with Vision 2040, Oman is meticulously executing national strategies focused on economic diversification, energy transition, and the aspiration of achieving carbon neutrality by 2050,” he said in a statement.

He also reaffirmed Oman’s steadfast support for the legitimate rights of the Palestinian people and creation of their sovereign state within the borders established on June 4, 1967, with East Jerusalem recognised as its capital.

“Oman urges the global community to actively work towards the realisation of the two-state solution. This strategy remains the fair and only route to achieving lasting peace in the Middle East. Anything less is simply a temporary fix that fails to address common interests or promote true stability,” he said.

The sultanate also categorically denounces any breaches of state sovereignty and advocates for measures that foster de-escalation, dialogue, and the protection of civilian lives.

Oman perceives the temporary suspension of military operations as an opportunity to revitalise political discussions and foster significant dialogue that leads to a fair peace, and to safeguard the legitimate rights of all parties involved while bolstering security and stability in the region.

Al Harthi also congratulated the Malaysian government on its successful chairmanship of ASEAN 2025 and the deepening bilateral relations between Malaysia and Oman. 

He cited a meeting between Deputy Prime Minister Datuk Seri Fadillah Yusof and Oman’s Deputy Prime Minister for International Relations and Cooperation Affairs and Special Representative Sayyid Asaad Tariq Al Said on the sidelines of the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit in May, which paved the way to further strengthening trade and investment relations between the two nations.

“The ongoing collaborations across diverse sectors are underpinned by a finalised Memorandum of Understanding that emphasises small and small and medium-sized enterprises," he said.

This include a collaboration between Securities Commission Malaysia (SC) and the Financial Services Authority (FSA) of Oman to establish a two-year Joint Programme for Capital Market Development Cooperation aimed at improving collaboration in the capital market through knowledge sharing, the promotion of cross-listings, and the broadening of investment opportunities in both conventional and Islamic finance sectors.

Two memoranda of understanding are presently being developed in the areas of health and higher education, he said. 

Oman celebrates its National Day annually on Nov 20. 

-- BERNAMA