The Sultanate of Oman managed to achieve positive results in the field of foreign direct investment by registering a remarkable increase in returns, as the government won the bet of economic openness and the development of investments and exports to foreign markets.
According to the Omani Ministry of Trade, Industry and Investment Promotion, foreign direct investment in the Sultanate of Oman increased during the past year by 6 percent compared to the previous year, with the volume of investment reaching 14.2 billion Omani riyals (about 36.92 billion dollars).
The Ministry held a visual meeting in cooperation with the Ministry of Foreign Affairs at the Oman Convention and Exhibition Center with the ambassadors of the Sultanate’s missions in Asia, with the aim of introducing the incentives and investment opportunities available in the Sultanate in the various target sectors and how to attract foreign capital during the next phase.
The Ministry of Trade, Industry and Investment Promotion adopted a plan to bring in a number of investments in the qualitative sectors related to the main files, such as the file of food and health security and others, with a focus on developing investments in the information technology sector and the various economies and upgrading Omani industries.
This plan allowed for expansion in the markets that are more accepting and absorbing of exports, especially Asian markets, which are one of the most promising markets for Omani exports.
In its plan, the Ministry focused on localizing a number of industries in the Sultanate, especially the transformative sectors, by bringing in more investments coming from countries to benefit from their advanced industrial expertise with the possibility of establishing joint investments and opening markets to develop exports and push them to global markets. The Ministry has also adopted, during the last period, a set of policies to create an attractive climate for investors, and to develop exports in line with the Oman Vision 2040, based on several basic axes, including working to remove all obstacles and challenges facing investors, simplifying procedures and facilitating them through sector restructuring initiatives in line with the reality of investment and the investor.
Source (London-based Arab Newspaper, Edited)
