Foreign direct investment in Oman nears OMR23bn

Foreign direct investment in Oman nears OMR23bn

Muscat: Foreign direct investment (FDI) in the Sultanate of Oman reached OMR22.96 billion by the end of the third quarter of 2023, according to preliminary data issued by the National Centre for Statistics and Information (NCSI).

The oil and gas extraction sector received 76.9 percent of total foreign investment, with a total value of OMR17.67 billion.

The FDI in the converting industries sector reached OMR1.40 billion by the end of the third quarter of 2023. The financial brokerage activity received FDI worth OMR1.53 billion, while the FDI in real estate, leasing and commercial activities reached OMR1.03 billion, according to the NCSI data.

Further, FDI in various other sectors were, electricity and water (OMR466.3 million), transport, storage and communication (OMR361.9 million), trade (OMR216 million), hotel and restaurants (OMR111.4 million), construction (OMR82.1 million) and other activities (OMR78.9 million).

The NCSI data further reveals that foreign direct investment from the United Kingdom reached OMR11.52 billion, constituting 50.1 percent of the total foreign direct investment.

The FDI from the United States of America was OMR3.88 billion, the United Arab Emirates OMR1.27 billion, the State of Kuwait OMR922.30 million and the Kingdom of Bahrain OMR732.6 million. The foreign direct investment from the People’s Democratic Republic of China reached OMR594.50 million,