logo
Oman to enhance AI contributions to national economy

Oman to enhance AI contributions to national economy

Times of Oman21-06-2025
Times News Service
Muscat: Oman is actively working to enhance the contribution of artificial intelligence (AI) to the national economy by increasing the number of specialised startups and expanding research and scientific investment in this vital field.
In September 2024, the Council of Ministers approved the National Programme for Artificial Intelligence and Advanced Digital Technologies as part of a comprehensive strategic plan built on three main pillars:
1. Promoting the adoption of AI across economic and developmental sectors
2. Localising AI technologies by supporting homegrown solutions and developing national capabilities so that Oman becomes a producer and developer of digital technologies
3. Governing AI applications with a human-centric vision, creating a flexible regulatory environment that ensures the ethical and effective use of emerging technologies.
Hassan bin Fada Hussein Al Lawati, Head of the National Programme for AI and Advanced Digital Technologies at the Ministry of Transport, Communications and Information Technology, highlighted that the programme benefits key economic, development, and service sectors that directly impact citizens' quality of life.
In a statement to the Oman News Agency, Al Lawati noted that Oman advanced five spots in the Oxford Insights Government AI Readiness Index, ranking 45th globally out of 193 countries in 2024, up from 50th in 2023. Regionally, Oman ranks 5th in MENA and 4th among GCC states, with ambitions to join the global top 30.
The programme targets a 20% annual increase in the number of AI-focused tech startups, which have already grown from fewer than 10 at the programme's inception to over 25 today.
Cumulative investments in AI projects have reached approximately OMR60 million over the past four years, with plans to increase investment by 20% annually.
The Ministry has also launched the 'AI Innovators' initiative in collaboration with the University of Technology and Applied Sciences to promote AI knowledge production and honor top researchers, scientific papers, and projects.
Additionally, Al-Lawati mentioned the 'Engineer IT with AI' competition, designed to localise and encourage generative AI innovation, empower national talent, and increase economic returns through startup creation and performance benchmarks.
A specialised initiative titled 'Humanising AI' has also been introduced to ensure a balanced approach that integrates technological empowerment with human-centred service delivery and inclusive access for all segments of society.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oman oil price reaches $70.52 per barrel
Oman oil price reaches $70.52 per barrel

Observer

time20 hours ago

  • Observer

Oman oil price reaches $70.52 per barrel

MUSCAT: The official price of Oman oil for September delivery on Wednesday reached $70.52. The price of Oman oil decreased by 18 cents compared to Tuesday's price of $70.70. The monthly average price of Omani crude oil for July delivery reached $63.62 per barrel, a decrease of $4.25 compared to the price for June delivery. Meanwhile, international oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a US tariff deal with Japan ahead of a US stocks data announcement. Brent crude futures were down 50 cents, or 0.7%, at $68.05 a barrel as of 11:19 GMT. US West Texas Intermediate crude futures were down 47 cents, or 0.7%, at $64.78 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against US tariffs. US President Donald Trump said on Tuesday that the US and Japan had struck a trade deal that included a 15% tariff on US imports from Japan. 'The slide (in prices) of the past three sessions appears to have abated but I don't expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment', said an analyst. — Agencies MUSCAT: The official price of Oman oil for September delivery on Wednesday reached $70.52. The price of Oman oil decreased by 18 cents compared to Tuesday's price of $70.70. The monthly average price of Omani crude oil for July delivery reached $63.62 per barrel, a decrease of $4.25 compared to the price for June delivery. Meanwhile, international oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a US tariff deal with Japan ahead of a US stocks data announcement. Brent crude futures were down 50 cents, or 0.7%, at $68.05 a barrel as of 11:19 GMT. US West Texas Intermediate crude futures were down 47 cents, or 0.7%, at $64.78 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against US tariffs. US President Donald Trump said on Tuesday that the US and Japan had struck a trade deal that included a 15% tariff on US imports from Japan. 'The slide (in prices) of the past three sessions appears to have abated but I don't expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment', said an analyst. — Agencies

OQEP enhances shareholder value through share buyback programme
OQEP enhances shareholder value through share buyback programme

Times of Oman

time21 hours ago

  • Times of Oman

OQEP enhances shareholder value through share buyback programme

Muscat: OQ Exploration and Production (OQEP) has announced a share buyback programme following approval from the Financial Services Authority (FSA). This initiative aims to enhance the company's ability to deliver value to its shareholders, in addition to its current annual base dividends of OMR231 million (equivalent to $600 million) and its semi-annual performance-linked dividends. The company stated that the programme will commence 15 days from Thursday, in accordance with the regulations of the FSA and the Muscat Stock Exchange. It will be implemented based on the resolutions passed during the company's Extraordinary General Meeting held last June, which amended the company's articles of association to enable share repurchases. OQEP clarified that the buyback programme targets the acquisition of between 45 million and 60 million shares over a period of six months from the programme's commencement, or until the targeted share purchase is completed. Eng. Ahmed Said Al Azkawi, CEO of OQ Exploration & Production, explained that this programme reflects confidence in the company's strong fundamentals and its long-term growth prospects. He noted that the company's shareholders will benefit from a capital return programme that includes the OMR231 million base dividend, a performance-linked dividend program, and the share buyback. He affirmed that OQ Exploration & Production remains focused on achieving growth, operational excellence, optimising its investment portfolio, generating strong and predictable cash flows, and ensuring long-term value for its shareholders.

US Prez Trump asks tech giants to stop building factories, hiring from India, other countries
US Prez Trump asks tech giants to stop building factories, hiring from India, other countries

Times of Oman

time21 hours ago

  • Times of Oman

US Prez Trump asks tech giants to stop building factories, hiring from India, other countries

Washington DC: US President Donald Trump has called for eschewing "radical globalism" pursued by some of the country's firms, including tech giants like Google, Meta and Microsoft, among others, to "stop building factories" and "hiring workers" from countries including India. "For too long, much of our tech industry pursued a radical globalism that left millions of Americans feeling distrustful and betrayed. And you know that," Trump said. "Many of our largest tech companies have reaped the blessings of American freedom while building their factories in China, hiring workers in India, and slashing profits in Ireland. You know that. All the while dismissing and even censoring their fellow citizens right here at home," Trump said ahead of unveiling his administration's "AI Action Plan." He said this in his address to the All-In Podcast and Hill & Valley Forum AI Summit in Washington, DC on Wednesday (local time) Washington, DC. Trump signed three new executive orders: expediting permitting for AI infrastructure, boosting exports of US-developed AI, and banning federal procurement of AI systems with political or ideological bias. During his remarks at the AI Summit, Trump urged US tech companies to be "all in for America." "We want you to put America first. You have to do that. That's all we ask. That's all we ask to partner with our tech geniuses and achieving this vision. Today, we're releasing the White House AI action plan. Big stuff," Trump said. The US President said that in a few months, "Meta, Amazon, Google, Microsoft are all investing $320 billion dollars or more in data centers and AI infrastructure this year" adding that Nvidia has committed $500 billion over the next four years. "For decades, we had leaders who spent their time focused on building up foreign nations. Under the Trump administration, we are going to have leaders who are going to build up our nation. This colossal investment in AI infrastructure and many other industries for that matter such as automobiles and so many other things will also create thousands and thousands of great paying jobs. the kind of jobs we want, including lots of blue collar jobs," Trump said. Taking aim at his predecessor Joe Biden, Trump said, "The last administration was obsessed with imposing restrictions on AI, including extreme restrictions on its exports." This he said "alienated American partners and drove even our friends into the arms of China and other countries," Trump said noting that he had upon assuming office "repealed the so-called Biden diffusion rule," which crippled American AI exports. Further he said," We created the digital age, and now we are leading the world into the golden age. Indeed, the golden age of America. With your help, that golden age will be built by American workers. It will be powered by American energy. It will be run on American technology, improved by American artificial intelligence."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store