22.3% surge in active commercial enterprises in 2022

MUSCAT, DEC 25

Oman's economic landscape witnessed a vibrant transformation in 2022, marked by a substantial 22.3% growth in active commercial enterprises, as revealed by the National Centre for Statistics and Information (NCSI). This robust expansion paints a vivid picture of a dynamic and flourishing entrepreneurial ecosystem, fueled by steadfast government support and expanding economic opportunities.

The surge reverberated across sectors, with establishments experiencing a robust 20.9% increase, reaching an impressive 396,100 enterprises. Wholesale and retail trade, coupled with motor vehicle repair, led the charge with 61,000 active establishments, closely followed by construction with 55,000. Manufacturing, construction, and the aforementioned trade sector collectively formed the backbone of Omani commercial sector, constituting an impressive 66.5% of all active establishments.

The thriving small enterprise segment, witnessing a 20.2% climb to 205,400, constitutes a remarkable 86.6% of the total commercial landscape. This underscores the entrepreneurial spirit in Oman and emphasizes the pivotal role these businesses play in job creation and economic dynamism.

Medium-sized establishments, serving as a bridge between start-ups and larger players, saw a commendable 19.7% surge to 17,800 enterprises. Even larger corporations witnessed a healthy 10.3% ascent to 1,000 institutions, showcasing the growing confidence and ambitions within the Omani corporate landscape.

This impressive performance is a testament to Oman’s strategic investments in infrastructure, policy reforms, and diversification initiatives. Projects like the Oman Logistics Hub and port developments in Salalah and Duqm signal a brighter future for Omani corporate and commercial sectors. Continued emphasis on technology adoption, skilled workforce development, and fostering a supportive regulatory environment will be pivotal in sustaining this momentum and solidifying Oman's position as a regional entrepreneurial powerhouse.