BOOK ON OMAN’S ECONOMIC DEVELOPMENT LAUNCHED

MUSCAT: Dr Mohammed bin Musa al Yousef’s latest book, From Underdevelopment to Sustainable Development: The Role of State and Market in Oman, 1970-2010 was launched on Monday in the presence of Dr Yahya bin Mahfoudh al Manthri, head of the State Council. The book has been published by Third Millenium Foundation in London.

The event was attended by H E Darwish bin Ismail bin Ali al Balushi, Minister Responsible for Financial Affairs; H E Dr Abdulmunim bin Mansour bin Said al Hosni, Minister of Information; H E Ayaz Hussein, Pakistan’s Ambassador to Oman; Said bin Saleh al Kiyumi, chairman, Oman Chamber of Commerce and Industry; Nabhan al Battashi, chairman, General Federation of Oman Trade Unions; AbdulRazak Ali Issa, chief executive, Bank Muscat and Chris Breeze, country chairman, Shell Oman.

Dr Yousef is the chairman of Al Yousef Group and former director general of Treasury and Accounts. In his new book, he traces Oman’s development process through five-year plans, which he says have successfully balanced free market and state-led economies. The book also touches upon the strategies developed for the Oman Vision 2020 and Vision 2040.

“Development is a constant process and it always remains. However, we can’t expect perfection since the deficiencies are an inherent part of the development process. And, that requires constant review, which is the thing that His Majesty Sultan Qaboos bin Said had assured in 1993 in the meeting of the Development Council,” Dr Yousef said.

His previous book is Oil and the Transformation of Oman (1995).

SOURCE: Muscat Daily