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The post Oman embarks on plan to tap USD 7.8 billion investment in travel appeared first on TD (Travel Daily Media) Travel Daily.
Oman’s Ministry of Heritage and Tourism has embarked on an ambitious plan for development in the governorates of Muscat, Al Dakhiliyah, South Al Sharqiyah, Dhofar and Musandam, and is also devising plans for the rest of the governorates.
As part of the plan, it is targeted to attract investments of about USD 7.8 billion between 2021 and 2023. Out of this, planned investments of OMR1.7 have already been achieved. The plan includes establishing a system of governance and updating the legal framework by reviewing and updating the tourism law and its executive regulations, reviewing and updating the cultural heritage law, issuing an executive regulation for the law, reviewing and updating frameworks related to integrated tourism complexes and contracts and development agreement for granting incentives and facilities for investment projects.
Oman’s Minister of Heritage and Tourism, Salim Mohammed Al Mahrouqi, said the plan proceeds from several initiatives and economic diversification projects and programmes come under the Omani strategy for tourism, whose implementation extends until 2040. He added that a number of initiatives have been modified or added in line with both the current developments and the Oman Vision 2040.
The Minster added that the aim is to achieve quick gains in the sector through priority projects that the tourism market currently needs, and the continuation of the tourism sector recovery plan from the COVID-19 and support projects whose implementation has been affected by the pandemic.
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