Foreign Direct Investment In Oman Nears OMR23bn

Business

Muscat: The Sultanate of Oman has attracted a significant amount of foreign direct investment (FDI), with a total value of OMR22.96 billion by the end of the third quarter of 2023, as per the preliminary data released by the National Centre for Statistics and Information (NCSI).

The oil and gas extraction sector has emerged as the top recipient of FDI, accounting for 76.9 percent of the total investment, which amounts to OMR17.67 billion.

In addition, the converting industries sector has received FDI worth OMR1.40 billion, while the financial brokerage activity has attracted FDI amounting to OMR1.53 billion. The real estate, leasing, and commercial activities sector has also witnessed significant FDI inflows, reaching OMR1.03 billion, according to the NCSI data.

Furthermore, foreign direct investment has been allocated to various other sectors, including electricity and water (OMR466.3 million), transport, storage, and communication (OMR361.9 million), trade (OMR216 million), hotel and restaurants (OMR111.4 million), construction (OMR82.1 million), and other activities (OMR78.9 million).

The NCSI data also highlights the major sources of foreign direct investment. The United Kingdom leads the way with an investment of OMR11.52 billion, constituting 50.1 percent of the total FDI. The United States of America follows with an investment of OMR3.88 billion, while the United Arab Emirates has invested OMR1.27 billion. The State of Kuwait and the Kingdom of Bahrain have also made significant investments, amounting to OMR922.30 million and OMR732.6 million, respectively. Additionally, the People’s Democratic Republic of China has invested OMR594.50 million, Qatar OMR442.30 million, the Kingdom of the Netherlands OMR374.7 million, the Swiss Confederation OMR288.30 million, the Republic of India OMR277.80 million, and other countries have collectively invested OMR2.65 billion.

Overall, the Sultanate of Oman has successfully attracted substantial foreign direct investment across various sectors, showcasing its appeal as an investment destination.

 

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