Total foreign direct investment climbs to RO 17.9 bn

The volume of foreign direct investments (FDI) inflows into the Sultanate of Oman amounted to RO 17.981 billion as of end-june 2022, which included RO 2.66 billion in new inflows during the previous 12 months, according to the Ministry of Commerce, Industry and Investment Promotion.

The biggest beneficiary was the Oil & Gas sector, which accounted for 68.14 per cent of total FDI, followed by the manufacturing sector (9.42 per cent), financial intermediation sector with an 8.74 per cent share.

The United Kingdom retained its position as the biggest source of FDI with a 49.99 per cent share (equating to RO 8.989 billion. The

United States was next with a 13.91 per cent share (RO 2.500 billion), followed by the United Arab Emirates (6.31 per cent), Kuwait (5.41 per cent), China (5.11 per cent), Qatar (1.9 per cent), India (1.53 per cent), The Netherlands (1.39 per cent), and Switzerland (1.02 per cent). Several other countries accounted for the balance 11.25 per cent of FDI.

Meanwhile, the number of commercial records registered with the ministry reached (349,894 as of October-end 2022, the ministry said, attributing this growth to the business-friendly environment created by the government to encourage new companies to invest in Oman.

The total transactions handled by the “Invest Easy” platform amounted to 802,524 transactions as of October-end 2022, representing a jump of 26.36 per cent over the preceding year.

Contributing to this growth were seamless procedures put in place by the ministry via the Invest Easy platform with the support of Sanad offices and single windows opened at free zones in Suhar, Duqm and Al Mazunah.

THE BIGGEST BENEFICIARY WAS THE OIL & GAS SECTOR, WHICH ACCOUNTED FOR 68.14 PER CENT OF TOTAL FDI, FOLLOWED BY THE MANUFACTURING SECTOR (9.42 PER CENT), FINANCIAL INTERMEDIATION SECTOR WITH AN 8.74 PER CENT SHARE