Foreign investments touch RO 15.5bn

Foreign investments (both direct and indirect) in the Sultanate grew significantly buoyed by encouraging government policies, economic incentives, and reliable legislation.

According to a survey conducted by the National Centre for Statistics and Information (NCSI), the Sultanate has become an attractive environment for foreign investments due to its strategic location, a robust infrastructure, an active economic environment and a transparent financial system.

The total foreign investments in the Sultanate has reached RO 15.465 billion at the end of 2016 as compared with RO 13.925 billion in the previous year, a 11.1 per cent increase. Foreign direct investments (FDI) made up 52.4 per cent of total foreign investments. Other investments including commercial credit, loans and deposits constituted 41.4 per cent.

Foreign direct investments in the Sultanate exceeded RO 8 billion by the end of 2016 compared with RO 6.9 billion in 2015. Investments in the oil and gas sector stood at RO 5.267 billion (34.1 per cent).

The United Kingdom comes at the top of a list comprising 50 countries investing in the Sultanate with RO 3.5 billion.

According to the survey, Omani investments abroad amounted to RO 6.337 billion in 2016, a decrease of 6.8 per cent compared to 2015. The majority of the Omani investments abroad (35 per cent) are in commercial credit, deposits and loans.

Last year the Sultanate signed a number of agreements for mutual encouragement and protection of investments, avoidance of double taxation with the aim of attracting foreign investments.