Oman, Uzbekistan look to expand investment flows

MUSCAT, NOV 15
Economic and investment relations between Oman and Uzbekistan are set for further expansion, supported by growing bilateral cooperation and investment opportunities across several key sectors.
The renewed focus on strengthening ties comes as Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, visited Oman and met with Abdulsalam bin Mohammed al Murshidi, President of the Oman Investment Authority (OIA), to discuss ways of advancing the investment partnership and promoting shared economic interests. The two sides emphasised the importance of continued coordination and the exchange of expertise in supporting bilateral relations and opening new avenues for economic cooperation.
The partnership, which dates back to 2009, spans approximately 16 years. According to figures featured in a special supplement published by Duqm Economist, issued by the Public Authority for Special Economic Zones and Free Zones (OPAZ) in collaboration with the Embassy of Uzbekistan, total assets under management have exceeded $300 million, while committed capital stands at approximately $500 million.
The partnership has also recorded 27 successful investment deals, created around 15,000 jobs and includes 16 companies within its investment portfolio.
The supplement highlights the diversity of investment activities between the two countries, covering trade, logistics, tourism, real estate, manufacturing, technology, education and financial services. These sectors offer scope for expanding cooperation and directing investments towards activities with higher added value.
Among the investment achievements highlighted for 2025 are investment in the Hektas Asia project in the agricultural sector, strengthened cooperation in agriculture and food security, and the development of an Uzbek platform in collaboration with Oman's Asyad Group. The initiatives also include efforts to strengthen regional and international trade links.
Trade figures presented in the supplement show that Omani imports from Uzbekistan increased from RO 61,000 in 2024 to RO 786,000 in 2025, registering growth of 1,188.5 per cent.
Omani exports to Uzbekistan stood at approximately RO 28.542 million in 2024, compared with RO 400,000 in 2025. Re-exports amounted to RO 28.519 million in 2024, against approximately RO 300,000 in 2025.
The two countries also have opportunities to expand trade and diversify their respective export markets. Uzbek products include vegetables, grains and cotton, while potential Omani exports to Uzbekistan include food products, iron, drilling and mining equipment, polyurethane and technical and industrial products.
Uzbek investments in Oman have also expanded, according to commercial registry data published in the supplement. The number of Uzbek companies in the Sultanate of Oman increased from six in 2020 to 57 in 2025, while total capital rose from RO 590,000 to RO 2.9 million during the same period.
Looking ahead, the proposed Central Asia and Caucasus Fund (CACEF), with a target size of $500 million, is among the initiatives aimed at exploring investment opportunities across the region's markets and strengthening Oman's economic presence in Central Asia and the Caucasus.