FDI inflows from UAE to Oman hit $3.3bln in Q3 2023

FDI inflows from UAE to Oman hit $3.3bln in Q3 2023

The UAE is the third-largest source of foreign direct investment (FDI) in Oman, with inflows reaching OMR1.275 billion ($3.3 billion) in the third quarter of the year, according to official data.

The United Kingdom (UK) topped the overall list of FDI sources, with inflows amounting to more than OMR11.521 billion, representing half (50.1%) of total inward investment, the Oman News Agency reported, citing preliminary data from the National Centre for Statistics and Information (NCSI).

Inflows from Kuwait reached OMR922.3 million, ranking fourth on the list, followed by Bahrain with OMR732.6 million.

Total FDI by the end of the third quarter reached more than OMR22.96 billion.

The oil and gas sector bagged the biggest chunk of inflows amounting to OMR17.672 billion or 76.9% of total FDI.

Foreign investment in electricity and water reached OMR466.3 million, while OMR361.9 million went to transport, storage and communication.

Foreign investment in trade; hotel and restaurants, and construction amounted to OMR216 million, OMR111.4 million and OMR82.1 million, respectively.

(Writing by Cleofe Maceda; editing by Seban Scaria)

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