Wednesday 18 / September / 2024
Muscat: Invest OMAN, the government's official investment promotion body operating under the Ministry of Commerce, Industry, and Investment Promotion, has unveiled 10 promising strategic investment opportunities in the manufacturing sector worth over OMR166 million.
This move is part of the efforts to attract foreign direct investment (FDI) and provide investors with ready-made, feasibility-backed opportunities in high-growth sectors aligned with global investment trends, such as renewable energy, technology, artificial intelligence, tourism, circular economy, and food security.
The latest set of projects includes ventures in industrial technologies, building materials, and advanced manufacturing.
Oman offers a range of investment incentives, including tax breaks and discounts on essential services, aimed at making the country a favourable destination for investors.
These incentives are designed not only to ease operational costs but also to develop local industries, enhance Oman’s contribution to global value chains, and support job creation, particularly benefiting SMEs.
To further ease access for global investors, Invest OMAN has developed a user-friendly digital platform that allows investors to explore all available opportunities.
The platform includes an investment map, detailed feasibility studies, and application tools, making it simpler for investors to engage directly with Invest OMAN and streamline their investment journey.
Eng. Alaa bint Said Al Jardani, Director of Investment Opportunity Development at the Ministry of Commerce, Industry, and Investment Promotion, commented: “Oman offers a wealth of resources that make it an attractive destination for foreign capital and high-value projects that can stimulate the national economy and contribute to local employment. We are committed to framing investment opportunities across all regions of Oman and in promising sectors within an integrated geographical framework. Investors can explore these opportunities through our digital platform, which provides all the necessary services to start their projects, supported by a guided journey that offers personalized assistance at each stage—from identifying opportunities to securing the necessary incentives and support.”
Since its establishment in 2023, Invest OMAN has been central to attracting international capital by facilitating access to high-potential sectors aligned with Oman Vision 2040.
By collaborating closely with government agencies and private sector stakeholders, Invest OMAN has developed over 70 investment opportunities across diverse industries, including logistics, tourism, IT, food security, and manufacturing.
With a strong focus on infrastructure development and providing comprehensive investor support, Oman is positioning itself as a premier destination for foreign direct investment (FDI) in the region. Invest OMAN continues to engage with international companies, analysing market trends and offering tailored incentives to ensure investors can thrive and achieve sustainable success in the Sultanate.
Further solidifying Oman’s reputation, CEOWORLD magazine has ranked Oman 21st globally in its prestigious list of the World’s Best Countries to Invest In or Do Business for 2024, affirming Oman’s competitiveness as an investment destination.
