Opportunity Oman: WHY NOW

Oman is currently implementing the transformational vision based on participatory approach towards a new path of development; it encompasses how Oman can move forward to a new stage of development. The vision relies on investment, production and export.

Oman with strategic location combined with a robust diversifying economy, world-class infrastructure, a business-friendly regulatory framework, a wealth of natural resources, an outstanding multi-lingual talent pool and political stability make it a highly attractive destination for international investors.

Building on its readiness in different dimensions in terms of infrastructure and educating the people, Oman is moving to a new renaissance towards the best utilization of its abundant natural resources, as well as ambitious strategies to develop several sectors including: tourism, fisheries, logistics, mining, manufacturing and technology.

Oman has enjoyed a sustainable GDP growth of over 3% for the last 40 years primarily due to the flourishing oil and gas sector. This does however leave the economy dangerously vulnerable to the decline in production capacity, the increasing costs of production, and fluctuating oil prices hence alternative drivers for economic growth need to be developed.

To be more specific, examples of opportunities to invest in Oman for investors are as follows:

• From a logistics point of view, Oman has open access to the Indian Ocean, hence large market access to the Indian Subcontinent, East Africa and Far east. This means that it is able to serve Asia, Europe and America within 1 day.

• There is already precedent as Oman has been diversifying its strategic partnerships by establishing investment and trade associations with East Asia.

• Oman has many historical bilateral trade ties, going back to thousands of years.

• Oman has an established and mature manufacturing sector with companies that can be acquired or partnered with, to expand business.

• Companies that can be targeted would be those which manufacture goods which will help decrease the rate of imports in Oman.

• In addition to import substitution, manufactured items could be exported to countries in the region by utilizing Oman’s deep-water ports and the region’s shipping expertise due to the strategic location.

• Numerous incentives given to manufacturing companies under the current Economic Stimulus Plan and the Vision 2040.

• Oman’s tourism sector is growing quickly, reflecting the country’s appeal to regional and international tourists. This sector can benefit from other successful tourism sectors in the region.

• The fisheries and aquaculture sectors can be promising for the collaboration between both countries. The long coastal line (3,165 km) and the different seas adjacent to Oman contribute highly to the fish biodiversity and population richness in the country. Oman has a rich mix of fisheries ranging from high value large pelagic fisheries shared amongst coastal states and foreign flagged nations, to low value straddling stocks such as lantern fish shared with neighboring countries, to a complex mix of inshore demersal and pelagic stocks fished domestically.

Oman’s geographical location, bilateral trade relations and aspiring investment goals are only some of its many attributes. It is time to strengthen these attributes through innovative and new channels and with an abundance of opportunities, there is no better time than the present to capitalize them. From excellent infrastructure facilities with historical routes, an immersive and diverse experience of nature and adventure in tourism, sea life with a wide area of around 3000 SQM and untapped manufacturing opportunities, Oman is truly a unique destination.

Under a very ambitious and visionary leadership, we strongly believe that now is the best time to exploit all opportunities and bridge the gaps. Oman invites you to be part of its extraordinary journey.