FDI inflows into Oman grow 10.4% in 2022 reaching RO 18.14 billion

Oman’s FDI in Q3 2022 rises 10.4% to top RO 18.14bn

Muscat: The Ministry of Commerce, Industry and Investment Promotion stated that the volume of foreign direct investments amounted to 18.14 billion Omani riyals until the third quarter of 2022, an increase of 10.4 percent compared to the same period in 2021, and the volume of trade exchange between the Sultanate of Oman and the countries of the world amounted to 30 billion and 421.4 million Omani riyals. Until September 2022, an increase of 46.18 percent.

The value of direct foreign investments in the manufacturing sector amounted to one billion and 717.1 million Omani riyals until the end of the third quarter of 2022, compared to one billion and 512 million Omani riyals for the same period in 2021.

The Ministry of Commerce, Industry and Investment Promotion has issued 35 regulations to enhance and improve the business environment during the period 2020-2022, including the executive regulations of the Foreign Capital Investment Law, specifying a list of activities that stimulate the practice of foreign investment in them, the regulations of the Commercial Companies Law, the executive regulations of the Competition Protection and Prevention of Monopoly Law, and issuing a regulation Matching system and regulations for organizing and managing exhibitions.

Statistics issued by the ministry showed that the number of transactions completed through the “Invest Easy” portal amounted to 989,495 transactions in 2022, compared to 804,330 transactions in 2021, an increase of 23 percent.

The number of applications for investment licenses through the Invest Easy portal, from the beginning of the launch of the service until January 5, amounted to about 23,780 licenses, and the number of automatic licenses submitted during the past year reached 181,048 licenses, compared to 113,218 licenses in 2021, while the total automatic licenses from the launch of the service to By the end of 2022, there were about 338,629 licenses.

The total number of investors who obtained investor residency from the beginning of the program until the beginning of this January was about 1,219 investors of various nationalities, including the issuance of 725 investor residency cards for the 10-year category, 489 cards for the 5-year category, and 5 cards for the retirees category.

His Excellency Qais bin Mohammed Al-Yousuf, Minister of Commerce, Industry and Investment Promotion, said that the directives of His Majesty Sultan Haitham bin Tarik and his keen interest in facilitating and developing the business environment made the Sultanate of Oman a conducive place for business and investment growth, and a leading destination for attracting investors and entrepreneurs as it integrates Efforts among the concerned authorities to put these generous directives into practice.