Investment opportunities in the digital economy of the Sultanate of Oman

Abstract

The digital economy is growing as a key force driving economic change, facilitating efficiency, innovation, and business development in a variety of industries and communities. One of the main pillars of Oman’s Vision 2040 is a digital economy, which encourages investment in emerging technologies, digital infrastructure, human capital, and public-private partnerships. Through semi-structured interviews with stakeholders from government, private sector and technology experts, this study investigates the potential and investment opportunities within the digital economy, as viewed by the interviewees, in the context of Oman’s National Digital Economy Program and Oman Vision 2040. The main finding of this study showed that there are several opportunities for local and foreign investment in the digital economy in five main aspects: digital infrastructure and transformation, potential growth for private and small and medium-sized enterprises related to aspects of emerging technologies, expansion in the use and application of these technologies, development and training opportunities for the human resources capital and collaboration opportunities between private and public sectors in delivering different digital services. This study recommends focus in Oman’s transition towards a knowledge-based digital economy while also considering the sustainable aspects and focusing on research and development.