Rural Areas Electricity Company Oman Tenders

Rural Areas Electricity Company Oman tenders and business opportunities. Access latest Rural Areas Electricity Company bids, market research and procurement analysis. Global tenders publishes domestic and international tenders, projects and contract awards for Rural Areas Electricity Company and more than 400 tendering authorities from Oman.

Oman's economy and revenues from petroleum products have enabled Oman's dramatic development over the past 50 years. Notably however, Oman is not a member of OPEC, although it has coordinated with the group in recent years. Oman's 10th five-year plan (2020–2025) is the first implementation plan of Vision 2040, and will focus its efforts towards achieving economic diversification. The plan for economic diversification aims to move Oman away from the oil-and-gas-based sources of income, and has earmarked five sectors that have high growth potential and economic returns. These are agriculture and fisheries, manufacturing, logistics and transport, energy and mining, and tourism. The recovery in oil prices also contributed to growth in non-oil economic activities, reflecting inter-linkages, although the dependency of non-oil activities on oil activities has somewhat weakened in the last few years. According to the World Bank growth is expected to increase over 2020–21, driven in part by a large increase in gas production from the new Khazzan gas project, and infrastructure spending plans in both oil and non-oil sectors. The Special Economic Zone Authority of Duqm (SEZAD) attracted $14.2 billion worth of investments in the form of usufruct agreements signed till the end of 2018. With a land area of 2,000 km2 and 70 km of coastline along the Arabian Sea, the Duqm Special Economic Zone is the largest in the Middle East and North Africa region and ranks among the largest in the world. Duqm is an integrated economic development composed of zones: a sea port, industrial area, new town, fishing harbor, tourist zone, a logistics center and an education and training zone, all of which are supported by a multimodal transport system that connects it with nearby regions.On the fiscal front, government expenditure also increased noticeably in 2018 due to higher spending on oil & gas production, defence, subsidies and elevated interest payments.

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