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In recent years, the Sultanate of Oman has pursued an economic policy management to diversify the country’s economy, trying to limit therewith its dependency on oil and gas. It is not an easy task for a state with a national budget, which is still financed up to 77 per cent by oil sales. Another challenge not to be underestimated is the integration of the Omani youth into the national labour market and the inclusion of the next generation in the process of shaping the Sultanate’s future. As the average age of the Omani population is only 19 years, it is hardly surprising that there are many young people searching for a promising future.
Moreover, the recent drop in oil prices has a considerable impact on the Sultanate’s economy. At the same time, this incident also shows how important the implementation of visionary sustainable development strategies actually is. In this regard, the promotion of entrepreneurship and encouraging economic independence can foster sustainable economic development. In this context, social entrepreneurship represents a far-sighted and innovative kind of entrepreneurship, which not only aims at generating profits, but also lessening social grievances and creating a commonly sustainable value. In this way, young talents with innovative suggestions shall step in to make a creative contribution in fundamental public investment areas such as education, health or for the environment. Most certainly, a visionary idea that can offer the Sultanate of Oman and its young population a fresh perspective to bridge existing divides and to overcome consistent shortcomings.
Against the background of Oman’s imminent economic and social challenges, the Regional Office Gulf States organises a three-day workshop on ‘social entrepreneurship’ with Ms Sonja Andjelkovic, consultant for innovative and sustainable perspectives for entrepreneurs and enterprises. The purpose of the workshop is the Omani youth’s familiarisation with the concept of social entrepreneurship, aiming in turn at the active participation in and promotion of the Sultanate’s diversification process in general.
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