Oman allocates OMR 50mn for private sector employment programs

MUSCAT: The Sultanate of Oman has allocated OMR 50 million to support private-sector employment programs to create sustainable job opportunities, reaffirming that employment remains a top national priority, local media reported.

Sultan Haitham bin Tarik chaired a Cabinet meeting at Al-Maamoura Palace in the Wilayat of Salalah, where key national decisions were made to enhance employment, education, and economic development.

During the session, the Council of Ministers approved an additional OMR 50 million to support private-sector employment programs. This funding will complement the 1.2% levy collected from the oil and gas sector, government entities, and companies under the Oman Investment Authority. His Majesty stressed the importance of creating sustainable job opportunities, reaffirming that employment remains a top national priority.

In alignment with ongoing social welfare initiatives, Sultan Haitham bin Tarik also allocated OMR 72 million from the state’s general budget to fund the family support benefit program under the recently launched Social Protection Fund.

Acknowledging the increasing need for educational infrastructure, the Council approved an additional OMR 40 million under the current five-year plan to expedite the construction of new schools, especially in governorates with rising student populations. His Majesty extended his best wishes to students for the new academic year and praised the dedication of educators and academics in preparing Oman’s future generations.

Sultan Haitham bin Tarik expressed satisfaction with the reduction in public debt, noting its positive impact on boosting confidence in the local economy and creating a more attractive environment for economic growth.

In a significant step towards digital transformation, the Cabinet also approved the National Program for Artificial Intelligence and Advanced Digital Technologies. This initiative aims to improve Oman’s ranking in the Government Readiness Index for AI, promote the adoption of emerging technologies, and increase the number of local tech companies developing innovative solutions for the economy and development sectors.