MUSCAT: Total foreign investment inflows – direct and indirect - into the Sultanate of Oman rose 6 per cent to reach RO 22.500 billion by the end of 2020, up from RO 20.983 billion a year earlier, the National Centre for Statistics and Information (NCSI) said in its latest bulletin.
The volume of foreign direct investment (FDI) into the Sultanate of Oman increased by 9.2 per cent to reach RO 15.761 billion in 2020, versus RO 14.432 billion in 2019, the Centre said. FDI accounted for 70.9 per cent of total investment inflows, it noted.
Total foreign investments accounted for 78.2 per cent of GDP in 2020, while FDI alone contributed a 55.4 per cent share of GDP. Foreign investments in 2020 alone amounted to RO 1.261 billion, representing a 24.5 per cent over the 2019 tally.
The Oil & Gas sector’s contribution to foreign investments amounted to RO 11.174 billion at the end of 2020, representing a growth of 50.2 per cent compared to the same period in 2019. This was followed by the financial intermediation sector with investments amounting to RO 6.006 billion (which was 27 per cent higher than the corresponding figure for 2019). The manufacturing sector’s share was RO 2.013 billion.
Significantly, the United Kingdom was the largest source of foreign direct investment into the Sultanate of Oman with a contribution totalling RO 7.112 billion as of 2020-end. In second place was the United States with RO 2.045 billion, followed by the United Arab Emirates with RO 998 million.
The FDI Bulletin of the NCSI aims to provide an accurate account of foreign investment inflows into the Sultanate of Oman to enable investors and decision makers to make informed decisions. It provides a standardised account in line with international standards, and also highlights the important role that foreign investments play in the current and future development of the national economy.
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