RIYADH: Saudi Arabia’s Vision 2030 prioritizes enhancing the performance of government bodies and institutions across the public, private, and non-profit sectors, recognizing their vital role in driving economic growth, according to the Kingdom’s economy minister. 

Speaking at the 7th edition of the King Abdulaziz Quality Award, Minister of Economy and Planning Faisal Alibrahim, who also chairs the award’s supervisory committee, said the initiative boosts competitiveness and strengthens the investment climate.

It also drives economic complexity and broadens the reach and quality of services both locally and globally — ultimately generating high-value jobs for the Saudi population, the Saudi Press Agency reported. 

This aligns with the Kingdom’s progress in the 2024 World Competitiveness Yearbook published by the Swiss-based Institute for Management Development, which ranked Saudi Arabia 16th out of 67 of the world’s most competitive countries. The business efficiency axis, in particular, advanced from 13th to 12th place. 

The overall ranking marked a one-position improvement for the Kingdom, driven by gains in business legislation and infrastructure, placing the Kingdom 4th among G20 countries. 

“Today, we celebrate national institutions that have proven that institutional excellence is not a slogan, but rather a strategic choice and a consistent management approach,” Alibrahim said in his remarks during the event.

He added: “The King Abdulaziz Quality Award is not just an occasion for recognition, but rather an ongoing journey to create models, stimulate performance, and raise the ceiling of institutional ambition.” 

Alibrahim highlighted the role of the Saudi National Model for Institutional Excellence, which he described as a practical tool for enhancing capabilities, improving performance, and maximizing institutional impact. 

The model is a framework that promotes organizational excellence across key sectors, using the King Abdulaziz Quality Award as a benchmark. 

It focuses on leadership, strategic planning, and measurable outcomes in areas like academic quality and stakeholder satisfaction, guided by scientific methods and national standards.

Prince Mohammed bin Turki bin Abdullah, secretary-general of the King Abdulaziz Quality Award, said the initiative serves as a national platform to promote positive competition and consolidates the principles of governance. 

A total of 63 organizations were recognized across gold, silver, and bronze categories for their application of high standards in quality, governance, and innovation. 

The gold-level government winners included the Ministry of Health, the Ministry of Human Resources and Social Development, the Saudi Industrial Development Fund, and the General Organization for Social Insurance. Other winners included the Ministry of Transport and Logistics, the Royal Commission for AlUla, and the Council of Cooperative Health Insurance. 

Thirty-four entities were awarded at the bronze level following a comprehensive evaluation process that measured performance, efficiency, and commitment to continuous improvement. 

Saudi Arabia’s quality award program mirrors similar efforts in more than 90 countries and reflects the Kingdom’s ambition to embed institutional excellence into its economic model. 

The King Abdulaziz Quality Award is positioned as the national benchmark for organizational performance, aiming to drive sustained development across key sectors. 

RIYADH: Oman will become the first country in the Gulf to impose a personal income tax, as the oil producer works to diversify its revenue stream. 

The sultanate will impose a 5 percent levy on taxable income for individuals earning over 42,000 Omani rials ($109,091) per year starting from 2028, according to a royal decree.

The Gulf country added that the tax would apply to about 1 percent of the population. 

The move comes after Oman launched a medium-term fiscal program in 2020 to reduce public debt, diversify revenue sources, and spur economic growth, which has improved state finances. 

“The law also includes deductions and exemptions that take into account the social situation in the Sultanate of Oman, such as education, health care, inheritance, zakat, donations, primary housing,” the country’s tax authority said in a statement. 

The law was implemented following an “in-depth study to assess the economic and social impact,” and income data collected from various government entities was used to set the exemption threshold. 

“The results showed that approximately 99 percent of the population in the Sultanate of Oman is not subject to this tax,” the authority said. 

The statement added that the electronic system has been designed to enhance voluntary compliance and is linked with relevant institutions to ensure accurate calculation of individuals’ income and to verify the accuracy of submitted tax returns.

The tax will contribute to achieving social solidarity and will not include wealth, such as land ownership. It will be imposed on the annual income specified by law and includes “all cash amounts and in-kind benefits received by the individual,” the authority said. 

The move aims to complete the tax system in line with the economic and social situation in the sultanate, and the tax revenue will go toward supporting the social protection program, “with sustained cooperation,” it added. 

The move will support the objectives of Oman Vision 2040, which targets reducing dependence on oil by achieving 15 percent of gross domestic product from non-oil sources by 2030 and 18 percent by 2040. 

“It will also contribute to achieving social justice by redistributing the wealth among the segments of society, provide support to the general budget of the country, and be directed in particular to finance part of the costs of the social protection system,” the authority said.