EXECUTIVE SUMMARY
Oman’s current development plan spanning 2021-2025 is focused on taking measures that will facilitate the business environment and promote overall fiscal sustainability. This emphasis, together with the government-led Tanfeedh diversification programme, has been translating into greater movement in the infrastructure, construc- tion, and real estate sectors. However, beginning in 2021 the government undertook a set of fiscal and economic measures aimed at alleviating the negative impacts of the COVID-19 pandemic and a sharp decline in oil prices on the local economy. These measures, which included a series of economic stimulus packages aimed at bolstering the private sector, were supported by previous legislation aimed at enhancing the competitiveness of the local business environment, including the passing of a Foreign Investment Law (2020), a Public-Private Partnership (PPP) law (2019), and a Bankruptcy Law (2020), as the funding of current and future infrastructure projects increasingly rests on the foundation of close cooperation between key state-owned enterprises and the private sector.