The Business Year: Oman 2020

Book excerpt: When the experienced TBY team landed in Muscat in September 2019 to start its seventh annual research on the Sultanate's economy, it could have never imagined the uniqueness of the times ahead. Early 2020 saw the passing away of the Father of the Nation, His Majesty Late Sultan Qaboos bin Said, and the appointment of the new leader, His Majesty Sultan Haitham bin Tariq. This was thought to be Oman's defining event in 2020, but shortly after, the COVID-19 outbreak touched every corner of the world, and oil prices continuously sunk to record lows. No doubt it is a trying time, but we see this 2020 edition of The Business Year: Oman as ushering a new era for the Sultanate. With a refreshed, forward-looking perspective, this 260-page publication analyzes how the business community is embracing innovation and technology to create a competitive, diversified economy.