1. Economic Diversification and Support of Strategic Sectors through Technology leading to a Knowledge-based Economy ideally through Joint Ventures.
Contributing to the expansion of the Sultanate's national income sources resulting in a lesser dependence on energy and minerals exports . New economic sectors should emerge and mature resulting in a more dynamic economic base with less exposure to fluctuations in energy markets and based on growing a knowledge-based economy in Oman. Furthermore to support the introduction, adaptation and integration of new technologies into certain economic sectors that are considered strategic to the Sultanate. Such technologies will contribute to rapid growth, innovation and competitiveness.
The sectors and sub-sectors of interest to receive technologies include:
- Industrials : Aerospace/Defence, Chemicals, Metals, Manufacturing.
- Utilities : Oil and Gas, Mining, Water, Alternative and Renewable Energy.
- Transport : Airlines, Shipping, Rail.
- Health : Healthcare, Pharmaceuticals.
- Fisheries Wealth & Agriculture : Aquaculture/Fisheries/Food Security.
- ICT : Software Systems, Communications.
- Research : IP Development, Advanced Research Centers.
- Tourism : Value-Added Projects (not residential)
In terms of allowable projects Obligors are encouraged to integrate their supply chains locally by undertaking subcontracting, co-production, licensing and related manufacturing either as a direct contribution to the goods/services procured by Oman or other goods/services within the Obligors business base.
2. Defence / Security Capability
Directly supporting the capability and autonomy of the Sultanate's primary security organisations including the Ministry of Defence/Armed Forces, the Royal Office, Royal Omani Police, the Security Agencies and the Royal Guard with Oman's suppliers of defence and security systems and services by transferring knowledge, assisting with capacity building, industrialization and local value-add production within the Sultanate.
In terms of allowable projects Obligors are encouraged to create projects within the various departments of the defence/security forces and locate their wholly owned activities within Oman. Such projects will be given priority for their contribution to the Sultanate's long-term security interests.
3. Human Resources Development
Supporting the transfer of skills and international best practices to the Omani nationals in order to create a sustainable, dynamic and efficient economy. Human Capital Development will include increasing national resilience, training of nationals, etc. It is imperative that any such training is sustainable and includes "training the trainer".
In terms of allowable projects, Obligors may undertake projects that create socio-economic benefits to the Sultanate and further the objectives of the Authority. It is recognized that such projects may not necessarily be revenue focused but are strategic to Oman.
4. Private Sector Development
Create and expand companies that are competitive both at the national and international level whether through Joint Ventures, collaboration in Research and Development or Innovation. In doing so the Sultanate's private sector will become stronger and more dynamic thereby acting as a source for sustainable economic growth, socio-economic development and high impact entrepreneurship.
In terms of allowable projects Obligors are encouraged to seek projects that directly support either the growth or sustainability of Oman's small and medium sized enterprises (SME's) as a group or industry sector and that present growth opportunities that will involve both training and employment for Omani nationals. Obligors may arrange for and/or invest in commercial businesses that meet the objectives of the Authority. Obligors are encouraged to undertake projects that will generate a return to investors (including the Obligors) through sustainable and profitable business activities. Commercial investment projects can be to start-up a new business or to expand existing enterprises.
PFD Area of Focus
The "2020 Vision" provides a roadmap for the achievement of the country's economic and social goals leading up to 2020 and whose main objectives are:
- Economic and financial stability
- Changing the role of the Government in the economy and broadening private sector participation
- Diversifying the economic base and sources of national income
- Globalizing the Omani economy
- Upgrading the skills of the Omani workforce and developing human resources
All projects must be aligned to the above National objectives and must meet the 3 principles of Additionality, Sustainability and Responsibility as described in the OAPFD Regulation.