FDI balloons to RO 15.86 bn

MUSCAT: Foreign Direct Investments (FDI) into the Sultanate soared to a total of RO 15.86 billion by the end of Q3 2020, bolstered by inflows of around RO 1.27 billion over the previous 12 months, according to the Ministry of Economy.

The lion’s share of the FDI, totalling around RO 12.28 billion, flowed into Oil & Gas exploration activities, followed by the manufacturing and industrial sector (RO 1.63 billion) and financial brokerage (RO 1.47 billion) as of September 30, 2020.

The growth in FDI was achieved despite challenging contracts attributed to the global pandemic, the Ministry added in a post.