The 2011/2012 World Economic Forum Global Competitiveness Index has ranked Oman as the 32nd most competitive country in the world. This result comes despite the fact that the past year was a tumultuous one for the Middle East and especially the Gulf States.
Oman Moving Up
The high ranking is an improvement of two places since last year’s index, and the 32nd spot is higher than such westernized countries as Spain, Poland, Italy and Slovenia, all members of the European Union. The Chairman of the Public Authority of Investment, Promotion and Export Development, Dr. Salem ben Nasser al Ismaily, remarked that,
“The World Economic Forum’s GCI is keenly followed by investors across the world as it gauges how conducive to business government policies are.”
The Public Authority for Investment also stated that the positive results of the index are a result of the Sultanate’s economic policies which never cease to work at improving the economic and business climate of Oman.
“Oman’s ranking reaffirms that we are moving in the right direction with liberal economic policies reflecting the market forces especially as regards reinforcing the role of the private sector as the engine for growth,” explained Ismaily further.