| |NOVEMBER 20224Thanks to Oman's nationals' welfare-focused growth trajectory over the past few decades, Omanis today savor a very high per capita income. In the process, Oman's economy became heavily dependent on oil production. There comes the rub; the petroleum sector accounts for around 87 percent of budget revenues, 51 percent of GDP, and 60 percent of total exports. But it's no secret that the oil reserves have been shrinking in recent years, forcing the government into economic diversification based on the development of tourism and gas-based industries. The silver lining is that Oman is not alone in this; almost all countries in the Arabian Peninsula are on their diversification path. Nevertheless, the country is well on its track to completely recovering from the impacts of the COVID-19 pandemic and the collapse in oil prices last year. After the 2.8 percent contraction in 2020, according to Statista, the real total GDP of Oman is expected to grow by 4.14 percent by 2026, while the gross national income could amount to $75.34 billion, and the investment in the country is forecasted to amount to $18.75 billion by 2025. Going forward, government spending is also expected to increase with a plan to boost the economy in a diversified manner. It's commendable the way the sultanate has adopted various fiscal measures over the past year to support the economy during the pandemic. This ranges from interest-free emergency loans to tax and fee reductions and waivers, the flexibility to pay taxes in installments, and a Job Security Fund to support citizens who lost their jobs. Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comOman Joins the Economy Diversification GameEditorial Vol 04 · Issue 5 - 1 · November, 2022 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Manager - DesignPrabhu Dutta A.R.N RayAssistant EditorHeena KousarNoidaRohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comTo subscribeVisit www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs.150 per issue.Editor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Info Connect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2022 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Design Vayshnavi P D Hari Shankar Senior Designer Girish M VP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Keerthana Kantharaj Sthitaprajnya Panigrahi Roopalatha H Tanuja Akkanavar siliconindia | | April 202029Even in a digital world, products must be shipped every day. And no matter how high your ambitions are, we are here to ship them for you. Around the corner, across the country or maybe to another continent. We support your organisation by providing innovative solutions for transport and logistics that help your business develop and expand.Visit dsv.com or simply call us at +91 22 71 99 90 00 and get things moving.OUR BRANCHESAhmedabad +917949009000; Bangalore +9108061799000; Chennai +914471444000; Cochin +914842377383; Gandhidham +912836297950; Gurgaon +911247199900; Hyderabad +914045570000; Jaipur +911412389169; Kanpur +915122304439/40/41; Kolkata +913330027100; Ludhiana +911612622652; Mahipalpur +911126783303; Mumbai +912271999000; Pune +912071119000; Tirupur +914212243755; Tuticorin +914614550036; Vadodara +912653088156; Visakhapatnam +918912735066/2595066; Zirakpur +911762525777For more information, please contact your local DSV officeor email us at info@in.dsv.comMain services· Full charter· Part charter· On-board courier· Consolidation· Back-to-backAir FreightSea FreightMain services· Full cointainer load· Less than cointainer load· Non-containerised load· Buyer's consolidation services· Break bulkYou need it. We move it.
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