Oman marches on in Education: Report

The Best Research House award by Banker Middle East Product Awards 2014 was presented by Adam Broom, CEO of CPI Financial, to the Alpen Capital team. 

Muscat, (Oman): Oman is moving on a growth trajectory in case of Education without any slip, according to a report published by ALPEN Capital, an investment bank headquartered in Dubai. The report also praises Oman Government’s decision to increase its focus on education as it happens at a time when Oman’s private sector is struggling to fill vacancies, despite high unemployment in many regions.

Education and training were awarded US$3.38bn or ten per cent of all projected state spending in Oman’s 2013 budget report, which was announced in January 2014.This, was 25 per cent more in real terms than last year.

In its latest Vision 2020 document as well Oman has reiterated its commitment towards further development of the education sector, preparing students for industry as well as higher education. The government of Oman has identified education as the foundation for building the country’s intellectual capital.

These factors were revealed in Alpen Capital's GCC Education Industry Report which shows that the education sector in the GCC region is on a growth trajectory. Apart from education, Alpen Capital has brought out industry reports in sectors such as retail, food, health care, construction, pharmaceuticals, hospitality, aviation and insurance.

The growth prospects of the sector are based on the current developments, key market dynamics, and existing investment opportunities in the region. Concrete steps towards this goal include curriculum revision, trained teachers, and focus on entrepreneurial education, to name a few.

Primary Education gaining ground in Oman

The concept of pre-primary education is also gradually gaining ground in the country in the form of nurseries and kindergartens, states the report, adding that in 2012, the pre-primary enrollment rates stood at an impressive 54.6 per cent, up from a mere 6.5 per cent in 2000.

There were 890 basic education schools operated by the Ministry of Education in 2012, which accommodated 538,313 students.

Between 2009 and 2012, enrolments in the primary segment at private schools dropped at a 4.2 per cent compound annual growth rate (CAGR) to reach 50,600 students in 2012. Similarly, enrolments in the secondary segment at private schools increased at a 3.6 per cent CAGR from 24,200 in 2009 to 27,000 in 2012.

Oman is home to 27 private universities that catered to as many as 35,000 students, as on October 2013, states the report.

Scholarships help

The government offers internal as well as external scholarships as part of its undergraduate scholarship programmes.Internal scholarships are financial aid towards higher education.

During the academic year 2012-2013, as many as 9,738 internal scholarships were issued. The government sponsored the overseas graduate-level education of 1,395 students during the academic year 2012-2013.

In line with the rising number of Omanis seeking post-graduate education abroad, the government also introduced new external scholarship programmes under which, it disbursed 1,000 post-graduate scholarships over five years.

The report further recommends that the quality of education faces challenges due to shortage of skilled teachers and vocational training.

The report suggested the government to provide counselling to students to prepare them for the job market.

Alpen Capital (ME) Limited

Alpen Capital is said to be a leading Investment Bank providing solutions to Institutional and Corporate clients in the GCC and Asia from its offices in Dubai, Muscat, Doha, Delhi and Mumbai. Alpen Capital is based in Dubai, United Arab Emirates. Alpen Capital (ME) Limited operates as a subsidiary of Alpen Capital Corporation Limited.Alpen Capital Limited is part of alpen partners which is again regulated by Jersey Financial Services Commission. Jersey Financial Services Commission is located at Channel Islands.

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