Oman’s National Program for Digital Economy has led to a surge in investments in the technology sector, with over $2.5 billion invested since its launch. The goal of the program is to increase the digital economy’s contribution to GDP from 2% to 10% by 2040, as highlighted by Dr. Ali Amer Al Shidhani, Undersecretary of the Ministry of Transport, Communications and Information Technology, during the COMEX Global Technology Show 2024.
The investments have mainly focused on communications technologies, data storage and processing, cybersecurity, artificial intelligence, space technology, and semiconductors. The agreements and projects announced at COMEX 2024 have seen a significant increase in value compared to the previous year, with $155.87 million announced on the opening day alone. These projects cover various digital areas including technical infrastructure, digital economy and technology.
The Omani Investment Authority plays a crucial role in supporting technology projects in the country and contributes significantly to the growth of the digital economy. Notable agreements at COMEX 2024 include the establishment of Oman Data Park’s largest national data center in partnership with Middle East Information Systems Company and collaborations with Google and Amazon Cloud Services for regional cloud services and e-commerce platforms.
Overall, Oman continues to invest heavily in technology driven by the National Program for Digital Economy and strategic partnerships with key industry players.
