Diplomatic meeting reviews investment opportunities and incentives in Oman
The Ministry of Commerce, Industry and Investment Promotion (MCIIP), in cooperation with the Foreign Ministry, held a meeting in Muscat with Ambassadors and Heads of Diplomatic Missions accredited to the Sultanate of Oman.
The meeting was part of a series to present the incentives and investment opportunities available in various targeted sectors, and to attract foreign capital.
During the meeting, participants discussed ways to attract investors and importers from brotherly and friendly countries.
The objectives are for these countries to benefit from the opportunities and facilities available in the Sultanate, to enhance economic cooperation, and to forge investment partnerships.
With a view to achieving this, they also agreed on establishing a direct communication channel with the Missions and relevant entities.
Ibtisam bint Ahmed bin Saeed Al Faroujia, Undersecretary at the MCIIP, said the meeting stemmed from the Ministry of Commerce's recognition of the vital role that diplomatic Missions can play in supporting efforts to attract major investors and promote Omani products in global markets. She commended the Foreign Ministry for its effective work in enhancing communication and coordination among the concerned parties.
She explained that these efforts have had a positive impact on Oman's economic indicators. In 2024, around 22 trade and investment delegations visited from different countries.
These visits boosted foreign investments, which increased from 2019 to 2024 to reach 25.4 billion Omani rials. Economic diversification sectors – such as manufacturing industries and sectors related to food and pharmaceutical security – account for 50 per cent of those investments.
Sheikh Khalifa Alharthy, Foreign Ministry Undersecretary for Political Affairs, said that economic diplomacy plays an important role in boosting economic cooperation between Oman and its brotherly and friendly countries, attracting more foreign direct investment and growing Omani exports in global markets.
He added that the Foreign Ministry, represented by Omani Embassies around the world, plays a supportive role and serves as a bridge between the relevant entities and these countries. Oman's Embassies introduce the business environment and promising investment opportunities across various sectors, streamline investment procedures and provide support to foreign investors.
He confirmed that the Foreign Ministry is ready to work with relevant parties to boost investment and promote economic opportunities in Oman, recognising the importance of economic diplomacy in attracting foreign investments. This cooperation is achieved through continuous coordination with related Ministries and government agencies, by streamlining investment procedures and strengthening partnerships with diplomatic missions to support efforts aimed at promoting available investment opportunities.
Engineer Nasser bin Khalifa Al Kindi, Chief Executive Officer of the Invest Oman platform, highlighted the importance of international cooperation in supporting sustainable development in the Sultanate.
He said that the platform serves as a key channel for attracting investors from partner countries, especially as investment opportunities grow in key sectors such as renewable energy, manufacturing, mining, logistics, agriculture, fisheries and tourism.
Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion, also attended the meeting.