Foreign investment in Oman up 17% over 5 years
Foreign direct investment (FDI) in the Sultanate of Oman has grown by 17.6% over the past five years. It reached a cumulative value of RO 26.7 billion by the third quarter of 2024.
This steady increase highlights Oman’s success in positioning itself as a key global investment hub, driven by strategic reforms, a business-friendly environment, and advanced infrastructure.
Government Commitment to Investment Growth
Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion (MCIIP), attributed the positive FDI trends to Royal directives on developing the investment environment, helping to build a promising economic future.
He said that the establishment of the Investment and Trade Court is a key step toward ensuring a stable legal framework that encourages foreign investments.
He also noted that the Ministry of Commerce is committed to offering competitive incentives and streamlined processes to attract investors and foster economic growth.
Improving the investment and business landscape is a top priority for sustainable economic growth, he added, noting that the Government is implementing initiatives to diversify the national economy and create job opportunities across multiple sectors.
Investment Promotion
Ibtisam Ahmed Al Farouji, Undersecretary for Investment Promotion at the MCIIP said that Oman's investment sector is actively reviewing and evaluating its policies, regulations, and incentives.
The Undersecretary noted that Oman promotes foreign investment through regional and international events, participation in major investment forums, and marketing campaigns aimed at attracting global investors.
She explained that investment opportunities are being structured and supported by feasibility studies before being presented to investors. This seeks to accelerate foreign investments in targeted sectors, boost economic diversification, and increase non-oil revenues in the Gross Domestic Product (GDP). Such measures are expected to enhance investor confidence and strengthen Oman's global competitiveness.
She further stated that the Government, through the MCIIP inistry of Commerce, is currently focusing on key sectors outlined in Oman Vision 2040. These include:
- Transport and logistics
- Renewable energy
- Information technology
- Food security
- Tourism
- Mining
- Manufacturing
Other key areas include the circular economy, healthcare, and education.
Foreign Investment by Country
According to statistics from the National Centre for Statistics and Information (NCSI), the United Kingdom remains Oman’s largest foreign investor, with total investments of OMR 13.7 billion as of the third quarter of 2024. Other leading investors include:
- United States – OMR 5.2 billion
- United Arab Emirates – OMR 836.5 million
- Kuwait – OMR 833.5 million
- China – OMR 817.8 million
- Switzerland – OMR 551.9 million
- Qatar – OMR 488.3 million
- Bahrain – OMR 375.7 million
- Netherlands – OMR 359.1 million
- India – OMR 286.1 million
Key Investment Sectors
The statistics reveal that manufacturing attracted OMR 2.13 billion, with financial brokerage at OMR 1.36 billion, and real estate at OMR 969.1 million.
Investment Facilitation Through “Invest Oman”
The “Invest Oman” platform has been instrumental in promoting new investment opportunities, with 20 projects already listed across tourism, real estate, aviation, logistics, and industry.
Land has also been allocated for industrial investments in Rusayl, Sohar and Samayil in collaboration with Madayn (Public Establishment for Industrial Estates).
Over the past year Oman’s global outreach efforts have included:
- Promoting Oman internationally in 21 investment events.
- Hosting delegations from 23 countries.
- Organising 8 local promotional events.
- Targeting six G20 countries and four key markets in collaboration with the Oman Chamber of Commerce and Industry.
These initiatives aim to attract investments across diverse sectors and to enhance Oman’s competitive edge in the global market.