‘Management of economic risks is critical to growth’

Muscat: The Ministry of Economy on Monday organised a forum titled “Economic Readiness to Confront Global Shocks: Opportunities and Challenges,” coinciding with the International Day for Disaster Risk Reduction.

The forum reviewed efforts to enhance economic resilience and systematic preparedness for variables.

The forum was held under the patronage of Dr. Said Mohammed Al Saqri, Minister of Economy.

In his speech, Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy and Head of the Economic Sector, emphasised the importance of assessing the readiness and resilience of the Omani economic system to ensure the continuity of economic growth rates and sustainable development by anticipating opportunities and challenges in the economic sector.

He added that the global economic landscape has become more complex and interconnected, making economic risk management a critical element for ensuring business sustainability and economic resilience.

The forum aimed to discuss the most prominent current global economic challenges and shocks and their direct and indirect impacts on the economy of the Sultanate of Oman, evaluate the level of Omani economic readiness to confront and adapt to current global challenges and shocks, and explore opportunities available to the Omani economic sector to promote sustainable growth and mitigate external risks. Additionally, it sought to facilitate the exchange of views and experiences among representatives of the economic sector and produce practical recommendations to enhance Omani economic readiness for resilience and adaptation to global challenges and variables.