Muscat, May 6, 2025 — The latest edition of Tejarah Talks, a flagship business forum aimed at fostering dialogue on economic development and innovation in Oman, recently took place in Muscat under the theme “Digging into the Future.” The event brought together industry leaders, entrepreneurs, policymakers, and investors to discuss the future of Oman’s economy, with a particular focus on the mining sector, digital transformation, and sustainable growth.
Focusing on Economic Diversification
Oman’s Vision 2040 has set ambitious goals for economic diversification, aiming to reduce dependency on oil and gas by developing sectors like mining, manufacturing, tourism, and technology. Tejarah Talks provided a platform for stakeholders to share insights on how to unlock the potential of these sectors, boost foreign investment, and create job opportunities for the growing Omani workforce.
The Mining Sector – A Key Driver of Growth
One of the main topics of discussion was the role of the mining industry in Oman’s economic future. Industry experts highlighted the significant untapped mineral resources in the Sultanate, including copper, gold, limestone, and rare earth elements. They emphasized the need for modern exploration techniques, sustainable mining practices, and supportive regulations to attract foreign investment and enhance local production.
Speakers at the event also discussed the importance of digital technologies, such as artificial intelligence (AI) and the Internet of Things (IoT), in transforming the mining sector. These technologies can improve operational efficiency, reduce environmental impact, and enhance worker safety, making the sector more competitive on a global scale.
Embracing Digital Transformation
Beyond mining, the talks also addressed the broader digital transformation of Oman’s economy. Business leaders stressed the importance of building a robust digital infrastructure, developing local tech talent, and supporting startups that can drive innovation and economic growth.
The discussions included the potential of blockchain, cloud computing, and data analytics in improving business processes, reducing costs, and enhancing customer experiences. Participants also explored how digitalization can support Oman’s ambitions to become a regional technology hub.
Sustainability and Green Growth
Sustainability was another key theme at Tejarah Talks, with experts highlighting the importance of aligning business strategies with global environmental goals. Oman’s commitment to reducing its carbon footprint and investing in renewable energy sources, such as solar and wind power, was presented as a critical element of long-term economic resilience.
Industry leaders called for stronger collaboration between the public and private sectors to promote sustainable business practices, reduce waste, and optimize resource use. The role of green financing and the potential for Oman to become a leader in environmentally friendly technologies were also discussed.
Looking Ahead
As the forum concluded, participants expressed optimism about Oman’s economic future, highlighting the importance of innovation, collaboration, and forward-looking policies in achieving the goals of Vision 2040. The discussions at Tejarah Talks provided valuable insights into how Oman can strengthen its economic foundations, diversify its revenue streams, and build a more prosperous, sustainable future for its citizens.
With continued investment in key sectors, a focus on digital transformation, and a commitment to sustainability, Oman is well-positioned to become a leading economic force in the region.
