Oman is rapidly emerging as a strong investment destination for foreign investors, leveraging its highly skilled and competitive workforce.
Strategically located, Oman offers access to 59 million consumers across the Gulf Cooperation Council (GCC) countries. Additionally, Oman has access to emerging markets in Asia and Africa, reaching a consumer base of one billion, and it is well-connected to trade routes between the East and West.
Even global rating agencies such as Moody’s have upgraded Oman’s outlook from ‘stable’ to ‘positive,’ while S&P has assigned the country a BB+ rating with a stable outlook.
With attractive laws, legislation, economic stability, and a robust GDP growth rate, Oman has all the right ingredients to attract foreign investors. The country has entered into free trade agreements with many nations, including recent deals with Singapore, Switzerland, and Pakistan, further boosting trade opportunities.
Special Benefits for Investors
Oman offers 100% foreign ownership and a conducive legal framework for investors. Furthermore, investors can obtain five-year or ten-year residency permits depending on the volume of their investment.
Abdullah Al Rawahi, Section Head of Industry Analysis and Evaluation at the Ministry of Commerce, Industry, and Investment Promotion, mentioned at a recent event in Mumbai that Oman’s robust infrastructure—featuring strategic ports like Duqm, Salalah, and Sohar—positions the country to become a logistics hub.
The government has also established a special entity to provide large-scale investment opportunities. This entity has consolidated 15 government agencies under one umbrella to offer integrated services, online platforms, fast-track solutions, and dedicated relationship managers to support investors.
Financial Facilities and Tax Incentives
In addition, financial facilities have been made available through Oman Investment Bank, Oman Development Bank, and the Future Generations Fund. According to Al Rawahi, various laws, including the Foreign Capital Investment Law, Bankruptcy Law, Public-Private Partnership Law, Privatization Law, and Commercial Companies Law, have been designed to eliminate bottlenecks for investors.
Some of the key incentives include 100% foreign ownership, tax exemptions of up to 30 years, competitive land and service prices, customs duty exemptions, integrated e-services, and investor residency for up to 10 years.
source: Oman on the Path to Becoming a Leading Investment Destination – Times of Oman
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