Amid these global trends, Omantel is positioning itself as a leader in embracing emerging technologies. The rollout of 5G networks is a critical focus, enabling high-speed, reliable connectivity and supporting next-generation applications. In parallel, AI is integrated to enhance customer service and optimise network management, ensuring that Omantel stays at the forefront of digital transformation. Cloud services, a key pillar of Omantel’s strategy, are being expanded to offer scalable, secure solutions to meet the growing demand for cloud-based applications across consumer, enterprise, and government sectors. These technological advancements are central to Omantel’s long-term vision of becoming not just a telecom provider but a broader enabler of digital transformation across Oman and beyond.

Navigating the Evolving Telecom Sector

As the telecom industry continues to evolve, so too does the competitive landscape. In Oman, Omantel maintains the leadership position, as a result of strategic investments in infrastructure, particularly in 5G and cloud technologies. The competitive environment remains dynamic, with both local and regional players striving to capitalise on the growing demand for digital services. Despite the pressure from regional competitors, Omantel’s deep understanding of the local market and our strong brand presence helps us retain a dominant position. Moreover, Omantel’s partnerships with global technology leaders such as AWS, Google, and Huawei allow the Company to leverage international expertise and scale solutions that meet the needs of both consumers and enterprises.

Economic Conditions and Digital Adoption

Oman’s telecom industry continues to thrive alongside the country’s broader economic progress, supported by steady GDP growth in 2024, driven by strong non-oil sector performance and ongoing fiscal reforms. Government investments in digital infrastructure and smart city initiatives have further accelerated demand for telecom services, creating new opportunities for innovation and expansion. Additionally, a stable fiscal environment, backed by consistent oil revenues and improved public spending efficiency, has enabled increased public sector investment, fueling advancements in telecom and ICT.

In 2024, Oman sustained GDP growth, while the Ministry of Finance reported a financial surplus of RO 540 Mn., with public revenues increasing by over 15%, strengthening the country’s economic outlook.

Meanwhile, Oman’s credit rating received significant upgrades, with Standard & Poor’s raising it to investment grade (BBB-), Fitch Ratings revising its outlook from stable to positive while maintaining a BB+ rating due to strong fiscal discipline and growing non-oil revenue, and Moody’s shifting its outlook from stable to positive (Ba1), citing improvements in public debt reduction and financial stability.

These economic achievements enhance investor confidence and create a favorable environment for expanding telecom, cloud computing, and digital services. The government’s commitment to fiscal discipline and a strong accumulation of sovereign foreign assets further reinforces long-term sustainability.

Looking ahead, continued fiscal consolidation and increased non-hydrocarbon revenues will be key drivers for sustained economic progress. Oman’s stable foreign reserves and reduced public debt position the country as an attractive market for digital infrastructure investment and innovation.