From The Report: Oman 2018
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Despite public investment cuts and a broad economic slowdown in the wake of lower oil prices, Oman’s construction sector continues to grow at a relatively brisk pace, bolstered by state-led diversification efforts, high income levels and relatively low labour costs. The building industry grew by a robust 10.4% in 2016, up markedly on the two previous years, according to the latest official full- year data, with sector investment staying buoyant at 5.5% growth. As the largest chunk of the non-oil economy, at roughly 45%, construction remains a pillar of government efforts to steer the country’s productive industries away from hydrocarbons under its medium-term ninth five-year plan, which covers the 2016-20 period, and its longer-term blueprint, Vision 2040.