The most important economic achievement during the past period was the huge jump in the GDP levels, which rose from US $ 272 million in 1970 to around US $ 19,750 million. The per capita income rose from US $ 4145 to around US $ 8300 during the same period.

Another economic achievement was the diversification of the economic base as the non-oil sectors' contribution to GDP rose from 31 per cent in 1970 to around 52 percent in 2000. The continued growth in the private sector's role in boosting the economic development and comprehensive Renaissance witnessed by the Sultanate was another economic landmark.

The initial data showed that the goals of the Sixth Five-Year Development Plan were progressing as targeted, a growth of 5.9 per cent in GDP had been achieved during the first half of the year 2001 and the non-oil sectors had achieved a growth of 9.9 per cent.

The implementation of the overall objectives of the Economic Vision 2020 proceeds well and by the end of the Fifth Five-Year Plan (the first plan to be executed within the context of the economic vision) the set objectives were satisfactorily realized. The achievements of the five-year plan (1996-2000) include:

• The share of the non-oil sector in the gross domestic product rose to 52 per cent and these sectors recorded an actual growth rate of 3.5 percent. The economic diversification program is being steadily implemented and that fits with the Economic Vision policy, which depends on the non-oil sectors to realize economic diversification
• A number of strategic projects were implemented. They were important for the economic diversification and helped boost national income and hard currency earnings. These projects included the LNG plant in Sur, Salalah Container Terminal expansion and Sohar port
• Major achievements were secured in the field of basic, technical and higher education and vocational training. Manpower development is considered as one of the main underpinnings of the Economic Vision and the Sultanate is one of the highest spenders on education: a fact recognized by the World Bank

The Sultanate's membership to WTO would produce numerous advantages and at the same time create major challenges. The national industries would face considerable external competition and the government took significant steps to amend the legal framework to meet the WTO requirements, encourage local and foreign investment, improve productivity and efficiency, reduce production cost and realize competitiveness, while observing international standards and specifications.

The government adopted a number of measures to encourage non-oil exports, including the establishment of the Omani Centre for Investment Promotion and Export Development (OCIPED), provision of necessary finance, granting priority for lending to export industries, taking measures to increase productivity in the sectors of agriculture, fishing and the existing manufacturing industries and endeavoring to upgrade investment and taxation laws and streamline government procedures to attract additional foreign capital and expertise.

The basic infrastructures and other services related to tourism, including accommodation, transport, entry and residence procedures, were all present in the Sultanate and were collectively creating conditions conducive for the growth of tourism. The Sultanate is a secure destination for the tourists and abounds in rich and diverse tourist sites and plans to enhance tourism.

The economic policies among regional and international investors and investment institutions have been also apart of the plan. In addition, the Omani and foreign private sectors' contributions reflect the success of the privatization policy, as well as the success of economic diversification and the interaction between the Sultanate's economic policies and new developments in the international arena. These developments include liberalization, economic freedom and a gradual reduction in the economic role of the public sector, particularly in the productive fields, as well as a greater role for private-sector consumer and capital spending in boosting economic development.

The privatization process is aimed at reinforcing the development process and economic diversification, reduce the government's role in the productive and service sectors and expand the role of the private sector by giving it the opportunity to finance, implement and manage service projects. It helped promote economic freedom, made the private sector more productive, provided services and attracted domestic and foreign investment for industrial and commercial enterprises, which had previously been the preserve of the public sector. This, in turn, helped promote greater economic diversification.