Wednesday, April 05, 2006

Oman Vs future challenges

Everyone seems to be on the rush to get employed by the oil sector these days looking for that green dough better known as the US Dollar which goes so highly respected in the financial sector more than often.

What they don't realize is that as much as it is a demanding sector for employment and manpower services, the future for it does not bode well. Already a lot countries are have dried up of their reserves of oil foundation and now rely heavily either on importing what they need to run their economy or perhaps even diversifying their economy so that it can cushion the impact it may have on it in the coming future.

The Sultanate, much like it's other GCC partners - apart from Saudi Arabia - is one of those economies where it can be stated that it's oil sector is slowly dying out, even though with the government through its main oil company PDO, saying that it would pick up once again to where we might not have to worry about it for quite some time; it just seems like the oil rush is now evaporating. Thus, pushing countries like Oman to diversify into gas, tourism, and other reliable sustainable resources of income for the country.

In effect, we will now be suffering, in ages to come, major socialogical, economical, and perhaps maybe political changes. Which as much as it is invited will nonetheless hold a grave risk for a country that has just opened up its borders to the world only 35 years ago.

Major challenges still lies ahead.

The question of the hour would be now: is Oman up for it?

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