In 2015 budget government has allocated significant budget for education sector. According to latest report “Allocation of OMR 3 billion for the education sector will be a shot in the arm for the education field. It will improve education in different ways, especially in terms of quality. With the funds allocated, focus should be more on improving the quality and bringing the education system on par with global standards.”
According to OBG 2016 report; Despite a drop in oil and gas revenues, the sultanate maintained its commitment to education spending in its 2015 budget, with the sector retaining a major share of state expenditure. This will enable a greater focus on both developing the physical infrastructure of the sector and improving the quality of its delivery. Meanwhile a national TVET strategy has been designed to address any mismatches between the requirements of the labor market and the skills and abilities of graduates.
The fact that the government has maintained a high level of expenditure on education, despite the decline in oil prices, is a testament to how important it considers the sector to be to Oman’s future. This level of funding is likely to be sustained, even if the price of oil continues to drop, as there is a clear recognition in Muscat that education and training are fundamental to the success of the sultanate’s wider economic, political and social aspirations.
For international investors, Oman thus stands open to investment in a number of educational and training activities and products. These range from HEIs to private primary schools, and teacher training to course material development.