Occupied the Sultanate ranked 46 among 144 economies globally and according to the World Competitiveness Report for the year 2014-2015m issued by the World Economic Forum recently to back down so the Sultanate 13 centers in the overall standings ladder. Although the classification of the national economy is still within the 24-state transition from an economy based on effective performance to an economy based on creativity and innovation, but the overall performance of the Sultanate has witnessed a noticeable decline.
The monitor’s report this year, a reflection of the changes and economic developments in the Sultanate and the extent of their competitiveness, building on the institutional framework, infrastructure, and the general economic climate, and the health and education sector, and the higher education sector and training, market efficiency, labor market efficiency, and the efficiency of capital markets, and Readiness technical, and size the private sector, and the innovation and development. As indicated by the results of the study conducted by the World Economic Forum, but the most prominent factors affecting the growth of the Sultanate’s economy centered on labor regulations and the educational level of the Omani cadres and work ethic in addition to the procedures ineffective. The Sultanate gained a high degree in the assessment of the macroeconomic environment, which measures the extent to balance the government’s budget, and the size of the national savings and inflation, which describes whether the State has provided an environment that supports business growth.
In a commentary on the report, said HE Dr. Salim bin Nasser Ismaili, Chairman of the General Authority for Investment Promotion and Export Development (enrich), that what is stated in the report of the retreat highlighted what needs to be developed in a number of aspects in order to improve the level of competitiveness of the Sultanate and based economy on innovation.
The report rated the Republic of Switzerland in first place for the sixth consecutive year by Competitiveness Index, followed by Singapore in second place for the fourth year in a row, while the United States has stepped up to the third position to replace Finland, which fell to fourth. At the level of the Gulf Cooperation Council (GCC) has made it clear to report a decline in the level of the Gulf states has declined each of the State of Qatar, Saudi Arabia, Kuwait and Bahrain for their native orders in the past year.