• Oman

    • Oman is strong competitor for attracting foreign investments: Franchise Times

    By on March 30, 2022
    muscat
    muscat

    Muscat: The Sultanate of Oman is Niche Market for Franchises, reports Franchise Times.

    In a new report published on its website, it said that the Sultanate has made moves towards economic diversification, such as through projects in manufacturing, logistics, tourism and mining. Oman’s wealth is depended on oil and gas revenues. The sustained economic slowdown between 2014 and 2017 caused by low oil prices, followed by the Covid-19 pandemic, have further impacts government budgets. Oman and the U.S. do share a strong bilateral relationship and have had a free trade agreement since 2009 which removed most customs duties.

    The country competes with Dubai and Saudi Arabia for foreign investments, said Franchise times

    The report also added, along with Gulf Cooperation Council members Kuwait, Qatar and the United Arab Emirates, Oman is among the countries least impacted by terrorism according to the 2022 Global Terrorism Index.

    Major U.S Franchises such as McDonald’s and Pizza Hut are well established in Oman, and there’s interest in family-oriented, recreational and educational concepts. the report said.

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