Oman witnessed a peaceful transfer of power after Sultan Qaboos died in January 2020 and was succeeded by his cousin Haitham bin Tariq al-Said. Haitham issued royal decrees institutionalizing the role of prince regent to ensure that in the future, the questions on the topic of succession that plagued Qaboos’s last years will not threaten to destabilize the royal family.

Economically, fluctuations and a downward trend in the price of oil, the export of which constitutes around 40% of GDP, severely hampered Oman’s economy. The COVID-19 pandemic has shone renewed light on the importance of economic diversification for Oman’s future stability.

Many objectives of the sultanate’s Vision 2020 plan remained unmet, including boosting Omani employment in the private sector. Oman has now initiated its Vision 2040 plan, which envisions a non-oil share of GDP of more than 90%. Though proclaiming reforms, Oman is investing more than any other country in the security sector per capita.

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