Friday, 15 Nov 2019 | 18 Rabi Al Awwal 1441
MoT expects investments to touch RO19bn by 2040

MoT expects investments to touch RO19bn by 2040

He also reviewed some indicators associated to the price of development of travel and tourism offices and the Omani tourism method, explaining that the total investment anticipated by 2040 is about RO19bn.

H E Mehrzi was speaking at Majlis A’Shura’s seventh typical session of the fourth annual setting of the eighth term (2015-19).

In a statement he touched on the 5 principal themes: Tourism Sector: Reality and Plans, Regulating legislations of tourism sector, Tourism advertising and promotion, Tourism investment and human sources in the tourism sector.

He added that the contribution of the tourism sector to the GDP of the sultanate was two.9 per cent in 2018, compared to two.six per cent in 2017.

H E Mehrzi also stressed that the tourism sector was adopted as 1 of the 5 promising financial sectors in the ninth 5-year program (2016-20), which aims to diversify the financial base and sources of earnings of the sultanate to minimize dependence on oil as a principal sector and minimize the damaging effects resulting from fluctuating costs in the international marketplace.

H E Mehrzi reviewed some indicators and statistics throughout the period (2016-18) associated to the licensed hotel establishments and the projects supplied for bidding in the different governorates of the sultanate. He also reviewed the authorized usufruct agreements in the Ministry of Housing and the integrated residential complexes, referring to projects beneath implementation, projects in the stage of preparation and implementation and projects in the stage of contracting and finalisation of the procedures for implementation. 

On the initiatives of the National Program for Enhancing Economic Diversification (Tanfeedh), the tourism sector laboratory authorized 15 initiatives in 2016.

He also spoke about a new initiative known as ‘Motivating Local Tourism’. In addition, H E Mehrzi also touched upon the nearby campaigns and promotional programmes aimed at advertising and highlighting tourism web sites and activating the nearby tourism movement.

Information Source: Muscat Daily

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