Oman sees 19% increase in FDI in 2022: Report

Oman sees 19% increase in FDI in 2022: Report

Muscat - The Washington Middle East Institute's report has praised the policies of His Majesty Sultan Haitham bin Tarik in dealing with economic challenges facing the Sultanate of Oman

The report said that there has been an increase of 19 percent in Foreign Direct Investment (FDI) in the first quarter of 2022. There has been an increase in non-oil exports in 2021, in addition to the Sultanate organizing a number of conferences, including the “Oman Renewable Energy” investment conference, which was held in London recently.

The conference witnessed a strong presence from multinational companies that implemented projects in the Sultanate of Oman and seek to with that again.

The report said that His Majesty the Sultan restructured the Council of Ministers, in addition to rationalizing state-owned companies and sovereign wealth investment funds in 5 sectors within the Oman Investment Authority, in an effort to improve implementation processes and avoid duplication.

The report said that the Sultanate of Oman was able to achieve its economic growth goals through the "Medium-Term Financial Balance Plan 2022/2024", which provided revenues of $780 million in 2021 and is expected to reach $1.3 billion in 2022, and the process is still ongoing.

To restore balance to the budget, supported by the