MUSCAT: In an era marked by increasing turbulence and strife, Oman presents investors with a unique blend of stability, transparency, and long-term prospects, as stated by H E Qais bin Mohammed Al Yousef, the Minister of Commerce, Industry, and Investment Promotion.
During the inauguration of the Advantage Oman Forum 2025 held at the St. Regis Al Mouj Muscat, Al Yousef addressed a group of international CEOs, emphasizing that Oman serves as a reliable and steadfast partner amid a global landscape affected by over 50 ongoing conflicts.
"Oman provides exceptional value in such turbulent times — consistency, transparency, and trustworthiness," Al Yousef remarked.
In reflecting on Oman’s historical engagement with the world, he noted that the sultanate appointed the inaugural Arab ambassador to the United States in 1844 and has since functioned as a subtle yet impactful link among various global regions.
The minister elaborated that Oman is undergoing a significant transformation, fueled by Vision 2040 and what he refers to as Renaissance 2. 0, with a strong emphasis on cultivating a diversified and future-oriented economy.
He added that the country is striving to emerge as one of the premier producers of green hydrogen globally, targeting a position as the sixth largest by the year 2030.
Positive economic projections were also highlighted, including a GDP growth rate of 3. 4 percent anticipated for 2025, which exceeds the global average, along with a consistent annual increase in foreign direct investment averaging 18 percent over the past five years.
Al Yousef emphasized that the foundation of Oman’s achievements lies in robust governance, transparent regulations, and a legal framework that encourages the private sector and safeguards investments. He pointed out that Oman's sovereign credit rating has been elevated by S&P Global to BBB- with a stable outlook, reflecting the rising international confidence in the country’s economic base.
Focusing on Oman’s trade openness, Al Yousef affirmed that the nation is dedicated to enhancing global economic collaborations even in a climate where protectionism is on the rise. He highlighted the significance of Oman’s Free Trade Agreement (FTA) with the United States, which provides investors with a robust opportunity to tap into one of the largest markets from a secure and strategically advantageous position.
He noted that Oman’s youthful, ambitious, and globally oriented workforce represents a significant asset for investors considering long-term prospects. “Our true strength resides not solely in our infrastructure or policies, but fundamentally in our people,” he stated.
