The Impact of Renewable Energy Investments on Oman's Economic Diversification and Strategic Growth: Case of Oman’s Economic Strategy and Transformation

Authors: Asma Kareem Al Balushi, Dr. Maria Teresa Matriano

DOI: https://doi.org/10.37082/IJIRMPS.v12.i5.231107

Short DOI: https://doi.org/gt88mn

Country: Oman

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Abstract: This study examines the impact of renewable energy investments on Oman's economic diversification and strategic growth, aligning with the goals outlined in Oman Vision 2040. Utilizing a mixed-methods approach, the research critically evaluates the current state of renewable energy investments, identifies key challenges and opportunities, and offers strategic recommendations to enhance their impact. Findings indicate that while renewable energy investments have the potential to significantly contribute to Oman's economic diversification, various barriers such as regulatory challenges, financial constraints, and limited technological capacity must be addressed. This paper provides actionable insights for policymakers, investors, and industry leaders to foster a more resilient and diversified economy through renewable energy initiatives.

Keywords: Economic diversification, Oman Vision 2040, policy framework, renewable energy investments, strategic growth, sustainable development, technological capacity.

Paper Id: 231107

Published On: 2024-09-02

Published In: Volume 12, Issue 5, September-October 2024

Cite This: The Impact of Renewable Energy Investments on Oman's Economic Diversification and Strategic Growth: Case of Oman’s Economic Strategy and Transformation - Asma Kareem Al Balushi, Dr. Maria Teresa Matriano - IJIRMPS Volume 12, Issue 5, September-October 2024. DOI 10.37082/IJIRMPS.v12.i5.231107

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