The Sultanate of Oman has many elements that would encourage foreign investment, not least of which is the distinguished geographical location, which overlooks international and regional sea lanes, equipped ports, a stable economic environment, and strong infrastructure, as well as legislation and frameworks that support the open economy and protect foreign investments, which It increased with the Sultanate joining a number of international organizations and trade agreements.
The Sultanate aims to attract foreign investments by providing a number of incentives, including: competitive service prices, a five-year tax exemption that can be extended, the absence of an income tax for individuals, freedom to transfer capital and profits in light of the fixed exchange rate, and the availability of full foreign ownership of projects at a rate starting from 70 Percent and up to 100 percent, after approval of the Council of Ministers, and providing one-stop services that provide investors with all inquiries and transactions in the fastest time.
Oman declares that it follows the policy of a free economy, and therefore works to enact and update laws and legislation to establish this economic trend, and to serve the interests of foreign investors by raising the rates of profits of their own projects, so that the Omani national economy benefits the most benefit at the same time, and the latest evidence of this is what the National Statistics Center announced And information in the Sultanate of Oman, that the total amount of foreign direct investment in the Sultanate, until the end of the second quarter of 2018, amounted to about 9 billion and 736 million and 900 thousand Omani riyals, compared with about 8 billion and 371 million riyals for the same period last year, an increase In ted Qat foreign investment of $ 365 million and one billion and 900 thousand riyals, and a growth rate of 16.3 percent.
The United Kingdom ranked first in the size of foreign direct investment, as the volume of its investment in the mentioned period amounted to about 4 billion and 735 million and 100 thousand riyals, compared to about 3 billion and 742 million and 800 thousand riyals for the same period of 2017. The UAE came second The size of direct investments amounted to about one billion and 42 million and 300 thousand riyals, and in the third place came Kuwait with investments amounting to 425 million and 900 thousand riyals.
The center’s data showed that foreign investment in the oil and gas extraction activity acquired about 5 billion and 511 million and 900 thousand riyals in the mentioned period, compared to 4 billion and 279 million and 400 thousand riyals in the same period of last year, while foreign investment in The financial intermediation sector by the end of the second quarter of 2018, one billion and 408 million and 100 thousand riyals, and in the third place came the industry sector with foreign investments amounting to one billion and 73 million and 800 thousand riyals, and the real estate activities sector came in the fourth place with investments worth about 675 million and 500 thousand riyals.
Starting from the principle of economic diversification, and in order to achieve maximum benefit from its strategic location, the Sultanate adopted to encourage foreign investment to establish some free zones in various parts of them, such as: the free zone in Salalah, the port of Salalah, the Sohar industrial port, the free zone in Sohar, and the free zone in Al Mazyona , The Musandam free zone, and the Duqm region. Investment opportunities in the Sultanate of Oman vary to include various sectors, for example: logistics services, food industries, metallurgical industries, wood industries, clothing industries, tourist villages and resorts, plastic industries, transportation and distribution services, oil and gas services, and others.
Reference: Hayat Website
Date: 2/10/2018.