Oman’s FDI up 10% to RO18.14bn

Oman’s FDI up 10% to RO18.14bn

Muscat – Oman’s unremitting efforts to attract foreign investments into the sultanate are paying dividends with the volume of foreign direct investments (FDI) going up by 10.4 per cent to RO18.14bn till Q3 of 2022, compared to the same period in 2021.

The statistics show that the volume of trade exchanges between the sultanate and the rest of the world till September 2022 increased 46.18 per cent to reach RO30.421bn. The value of FDI in the manufacturing sector till Q3 of 2022 was RO1.717bn, compared to RO1.512bn over the corresponding period in 2021.

The noticeable increase in the volume of FDI, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) stated, was due to the several Royal Directives as well as efforts in updating laws and regulations related to investment, creating a suitable environment for starting businesses, enhancing digital transformation in all services provided to investors, providing incentives to those who are interested to invest in Oman and strengthening the global competitive position of the sultanate.

Qais bin Mohammad al Youssef, Minister of Commerce, Industry and Investment Promotion, emphasised that the wise directives of His Majesty Sultan Haitham bin Tarik and his keen interest in facilitating and developing the business environment has provided