A report issued by the Ministry of Commerce, Industry and Investment Promotion in the Sultanate of Oman showed that the volume of foreign direct investments reached 14.18 billion Omani riyals until the third quarter of 2022, an increase of 4.10 percent compared to the same period in 2021.
The volume of trade exchange between the Sultanate of Oman and the countries of the world amounted to 30 billion and 4.421 million Omani riyals until last September, with an increase of 18.46 percent. The value of direct foreign investments in the manufacturing sector amounted to one billion and 1.717 million Omani riyals until the end of the third quarter of 2022, compared to one billion and 512 million Omani riyals for the same period in 2021.
The ministry indicated that the government is working in integration and partnership with the private sector to increase the number of targeted sectors and bring more foreign investments to the Sultanate of Oman.
In its meeting, the Cabinet reviewed the executive position of the initiatives and programs that the competent authorities are working on to attract more local and foreign investments, and develop sources of economic diversification. Enhancing the volume of non-oil revenues in the GDP, simplifying and facilitating procedures related to investment, and addressing the challenges facing it, will reflect positively on investor confidence and enhance the indicators and the competitiveness of the Sultanate of Oman in this field.
Source (Al-Dustour Jordanian Newspaper, Edited)
