H. Nithyanandhan “Initiatives of Tanfeedh – a national program in enhancing economic diversification in Sultanate of Oman”
Hemavathy Nithyanandhan, College of Applied Sciences, Sultanate of Oman
Purpose: The heavy dependence on the oil revenue has prompted the government of the Sultanate of Oman to formulate the diversification policies from oil to non-oil sectors. Government has introduced several national level programmes and ‘Tanfeedh’ is one such initiative. Tanfeedh program is derived in Ninth Five Year Plan (2016-2020) aims for enhancing economic diversification and works towards the sustainable development by linking the different sectors in Oman. The main aim of the research is to find out the various methods adopted to enhance the economic diversification under this program. To identify that whether these initiatives will develop the competitiveness in terms of social and economic issues in Oman.
Methodology: This paper attempts to test the significance of the programme and its effects on diversification policy in the four sectors namely manufacturing, tourism, & logistics and mining & fisheries. Primary and secondary data is used and data analysis is done using appropriate methods.
Findings: Tanfeedh initiatives and the benefits attained as diversification policy shows positive sign in the economy.
Keywords: Tanfeedh, diversification, Sustainable development, Sultanate of Oman, National program.