Foreign direct investment in Oman tops OMR15bn

Foreign direct investment in Oman tops OMR15bn

Muscat: Foreign direct investment (FDI) in the Sultanate reached OMR15.06 billion at the end of the second quarter of 2020, according to the data of the National Centre for Statistics and Information (NCSI).Praising the efforts made by the Sultanate in promoting world trade, officials of the World Trade Organisation (WTO) said that Oman is a supportive partner in the activities of the WTO, with a long history in global trade.The Sultanate's global trade legacy is being employed with high efficiency through its membership and role as a supportive partner in the WTO and its pivotal role in the organisation at all levelsThe Sultanate, represented by the Ministry of Commerce, Industry and Investment Promotion, recently celebrated the 20th anniversary of its accession to the WTO.They pointed out that the Sultanate has used its experience in joining the WTO to support other governments that are in the process of joining the organisation.The Sultanate's agreements to combat harmful commercial practices have given Omani companies the right to protect their local products in case they are exposed to this type of practices. These agreements contribute to boosting foreign investment flows to the Sultanate over the past 20 years.WTO's Deputy Director-General, Alan Wolff, emphasised the