LOGIC Consulting outlines the pillars of Oman’s Development Plan 2026–2030

Oman has entered a new chapter in its long-term development journey with the launch of its 11th Five-Year Development Plan, covering the years 2026 to 2030.

According to a new insight paper from LOGIC Consulting, the plan represents the second executive roadmap under Oman Vision 2040, following a previous cycle that focused on stabilizing the economy after years of oil price volatility and pandemic-related disruption.

The new plan was formally adopted through Royal Decree 1/2026 and marks a shift toward diversified, private-sector-led growth. It is set to be less of a standalone policy document and more of continuation of Oman’s efforts towards rendering real measurable economic and institutional outcomes from Vision 2040.

Building on a strong foundation

Oman’s Ministry of Foreign Affairs reports that the previous five-year plan achieved a 97% implementation rate, with 398 of 411 strategic programs completed. That track record gives the government a stronger base as it moves into the new cycle, which is structured around 190 strategic programs, 12 national priorities.

The plan has four pillars: people and society; economy and development; sustainable environment; and governance and institutional performance. The plan is being rolled out in phases, with a first work program running through 2027, a second through 2029, and a final complementary phase in 2030 dedicated to evaluation and preparation for the next cycle.

Growth targets and fiscal discipline

The plan aims to boost GDP growth by close to 5% at current prices and 4% at constant prices, alongside an investment-to-GDP ratio of nearly 30%. It also calls for private-sector contribution to GDP to rise to 56%, with foreign direct investment reaching 11% of GDP. An additional investment requirement of roughly OMR 15.6 billion has been earmarked for economic and social sectors through 2030.

Fiscal planning is built around an assumed oil price of $60 per barrel, with average general revenues projected at roughly OMR 11.56 billion against average public expenditure of about OMR 12.22 billion, resulting in a modest average deficit near OMR 666 million. Non-oil revenues are expected to climb to 37.4% of total general revenues by 2030, underscoring the link between fiscal resilience and diversification.

Manufacturing, tourism, and the digital economy lead the way

The report from LOGIC Consulting identifies manufacturing, tourism, and the digital economy as the three core sectors expected to drive Oman’s next phase of growth. Manufacturing is targeted to grow nearly 6%, supported by projects such as the Duqm Refinery and the Hafeet Rail link between Oman and the UAE, which had reached 40% completion as of April 2026.

Tourism, targeted for growth of almost 6%, is shifting toward higher-value and more sustainable visitor experiences, including luxury tourism and mixed-use coastal developments. The digital economy is the fastest-growing of the three, with a target above 10%, supported by sovereign cloud infrastructure, expanded cybersecurity, and a national AI platform for government services.

These core sectors are supported by six enabling industries: Mining, renewable energy, food security, transport and logistics, education, and health, each with its own growth target.

Diversifying the jobs market

Employment sits at the center of the plan’s ambitions. Oman aims to generate around 300,000 direct opportunities for citizens between 2026 and 2030, compared with about 175,000 during the previous cycle.

That works out to roughly 60,000 opportunities annually, with about 10,000 expected from government and 50,000 from the private sector, reflecting a deliberate shift away from public-sector employment as the primary driver.

What it means going forward

LOGIC Consulting frames the plan as more than a growth strategy, describing it as a risk-management tool designed to reduce Oman’s dependence on oil revenue. For investors and businesses, the plan signals where capital, policy attention, and employment opportunities are likely to concentrate over the coming years, particularly outside Muscat, as economic decentralization across governorates becomes a defined national priority.

“Ultimately, the 11th Five-Year Development Plan will be judges by its ability to convert Oman Vision 2040 into tangible outcomes,” notes the LOGIC Consulting report.

“If implemented effectively, it can strengthen Oman’s non-oil economy, deepen private-sector participation, create wider employment opportunities for Omanis, and support a more resilient and diversified development model focusing on non-hydrocarbon sectors. The real test will be the extent to which it turns national priorities into productive investment, regional opportunity, and sustainable growth.”