Our Terms & Conditions | Our Privacy Policy
MUSCAT: Foreign direct investment (FDI) in the Sultanate of Oman has grown by 17.6% over the past five years, reaching a cumulative value of RO 26.677 billion by the third quarter of 2024. This steady increase underscores Oman’s success in positioning itself as a key global investment destination, driven by strategic reforms, a business-friendly environment, and advanced infrastructure.
Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion, attributed the positive FDI trends to Oman’s well-defined strategies and supportive policies. He emphasized that the establishment of the Investment and Trade Court is a key step toward ensuring a stable legal framework that encourages foreign investments. The Ministry, he noted, is committed to offering competitive incentives and streamlined processes to attract investors and foster economic growth.
Al Yousef also highlighted that enhancing the investment landscape remains a top priority for driving sustainable development. The government continues to implement various initiatives aimed at economic diversification and job creation across multiple sectors.
Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion.
Ibtisam bint Ahmed al Farooji, Under-Secretary for Investment Promotion, outlined the Ministry’s ongoing efforts to evaluate and refine investment policies, laws, and incentives. She noted that Oman actively promotes its investment opportunities through regional and international investment forums, exhibitions, and marketing campaigns to attract foreign capital.
To strengthen investor confidence, the government ensures that investment opportunities are backed by feasibility studies. The focus is on accelerating foreign investments, boosting economic diversification, and increasing non-oil revenues.
Al Farooji stated that the Ministry and other investment authorities are aligning their efforts with Oman Vision 2040, prioritizing sectors such as transportation and logistics, renewable energy, information technology, food security, tourism, mining, and industries. Other key areas include the circular economy, healthcare, and education.
According to the National Center for Statistics and Information, the United Kingdom remains Oman’s largest foreign investor, with RO 13.66 billion in FDI as of Q3 2024. The United States follows with RO 5.25 billion, while other major investors include:
United Arab Emirates: RO 836.5 million
Kuwait: RO 833.5 million
China: RO 817.8 million
Switzerland: RO 551.9 million
Qatar: RO 488.3 million
Bahrain: RO 375.7 million
Netherlands: RO 359.1 million
India: RO 286.1 million
Among the top-performing sectors, manufacturing attracted RO 2.13 billion, followed by financial brokerage (RO 1.36 billion) and real estate (RO 969.1 million).
The “Invest in Oman” platform has been instrumental in promoting new investment opportunities, with 20 projects already listed across tourism, real estate, aviation, logistics, and industry. Additionally, industrial lands have been allocated in Rusayl, Sohar, and Samayil through a collaboration with Madayn to facilitate manufacturing investments.
Oman’s global outreach efforts have also intensified. Over the past year, the Ministry has participated in 21 international events, hosted delegations from 23 countries, organized 8 local promotional events, and targeted 6 G20 markets in partnership with the Oman Chamber of Commerce and Industry. These initiatives aim to attract investments across diverse sectors and enhance Oman’s competitive edge in the global market.
With ongoing reforms and a clear investment roadmap, Oman continues to strengthen its appeal as a prime destination for foreign investors. — ONA
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
Comments are closed.