Under the patronage of His Excellency Dr. Said bin Mohammed Al-Saqri, Minister of Economy, the Third Conference on Economics and Finance commenced today at the St. Regis Al Mouj Resort. The event is organised by the College of Economics and Political Science in strategic partnership with the Oman Vision 2040 Implementation Follow-up Office.
In the opening address, Dr. Al Mukhtar bin Saif Al-Abri, Dean of the College of Economics and Political Science and Chairman of the Organising Committee, stated: "This conference comes at a crucial time, marking five years since the launch of Oman Vision 2040 and the renewed Omani Renaissance, which places digital transformation and entrepreneurship at the heart of its strategies. These elements are recognised as vital in building an economy driven by innovation, knowledge, and technology." He highlighted that the conference places particular emphasis on startups, especially those in the technology sector, as technological innovation is now a key driver of economic competitiveness, job creation, and sustainable development in the digital domain. Consequently, the event serves as an ideal platform for discussing ways to empower startups, foster an enabling environment, and support their expansion into global markets. This includes reviewing successful international experiences and identifying key policies and enablers that contribute to their growth.
The conference, themed "Driving Digital Transformation and Connectivity for Sustainable Growth”, seeks to explore innovative solutions and strategies to enhance economic growth and sustainable development in Oman. This aligns with the nation’s pivotal phase of economic transformation. Key themes include digital transformation and its impact on economic growth, entrepreneurship within the technology startup sector and its role in fostering an innovation-based economy, the importance of global partnerships in achieving sustainable development, and strategies for economic diversification within the framework of Oman Vision 2040.
The event features participation from a distinguished group of officials, executives, entrepreneurs, academics, economic researchers, and business leaders, alongside renowned international speakers. The conference showcases approximately 45 specialised research papers from 11 countries, addressing challenges and opportunities in the business sector and digital economy. It also includes dynamic panel discussions highlighting successful case studies on building and scaling startups internationally.
The keynote address was delivered by Amir Hejazi, Co-founder and Managing Partner of Capital Democracy, who discussed strategies for building a thriving startup ecosystem in Oman. He emphasised two key drivers of economic growth: the expansion of existing businesses and the emergence of startups offering innovative market solutions. Hejazi also underscored the critical role of legal, cultural, administrative, financial, and economic frameworks in shaping the startup ecosystem, stressing the importance of startups in promoting economic diversification, job creation, technological innovation, and attracting foreign investment.
The conference sessions were held concurrently in two separate halls. One of the key discussions, “Innovation, Markets, and Economic Growth in the Digital Era”, was moderated by His Highness Sayyid Dr. Adham bin Turki Al Said, Assistant Professor at the College of Economics and Political Science. Panellists included His Excellency Sayyid Dr. Mundhir bin Hilal Al-Busaidi, Vice-Chairman of the Vision 2040 Implementation Follow-up Unit; Amir Hejazi, Managing Director of Capital Democracy; Harith Al-Maqbali, CEO of OTaxi; and Eng. Hilal bin Hamad Al-Busaidi, Member Chairman of the Investment Initiative.
The general session, "Growth and Innovation: Digital Markets, Sustainability, Entrepreneurship", was moderated by Dr. Fahim bin Abdullah Al-Marhoubi, Associate Professor at the College of Economics and Political Science.
The first session, "Growth and Policy Dynamics: Trade, Diversification, and Market Responses", was chaired by Prof. Saeed bin Mubarak Al-Muharrami from the College of Economics and Political Science. A concurrent session, "Innovative Strategies in Business, Sustainability, and Crisis Management", was led by Prof. Mary Brennan from the University of Edinburgh Business School. The second session, "Fintech, Sustainability and Strategic Transformation", was chaired by Prof. Azhar bin Mohammad from the International Islamic University of Malaysia. Another concurrent session, "AI and Digital Transformation in Education, SMEs, and Finance", was chaired by Dr. Mohammad Rezaur Razzak.
The conference will continue for two days, concluding on Tuesday with the organising committee presenting its key recommendations.