There are moments when policy, confidence and purpose align to change an economy’s trajectory. Oman is experiencing such a moment. On August 31, 2025 in the Wilayat of Salalah, Dhofar Governorate, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) launched the Golden Residency programme for investors, alongside initiatives to recognise high‑performing companies and digitise key services. These are catalysts: they cut friction and give the private sector a clearer runway.
The timing is propitious. Over the last eight months, Oman’s macro signals have improved. Preliminary statistics show real GDP expanded by 2.5 per cent in the first quarter of 2025, with non‑oil activities up 4.4 per cent — the kind of broad‑based growth that spreads opportunity through supply chains, services and skills. This is the profile envisaged by Oman Vision 2040: steady, diversified and resilient.
External confidence has strengthened. In April, S&P affirmed Oman’s investment‑grade rating at BBB‑ with a stable outlook. In July, Moody’s upgraded the Sultanate of Oman to Baa3. And late last year, Fitch revised its outlook to Positive while affirming BB+. Ratings are not an end in themselves, but they narrow risk premiums and reduce the cost of capital for companies that plan to invest, expand and hire.
Capital is already responding. Foreign direct investment stock surpassed RO 30.6 billion by the end of the first quarter of 2025, up from roughly RO 26.7 billion by the third quarter of 2024. Inflows in Q1 alone reached about RO 5.2 billion. This signals confidence in our regulatory regime, project pipeline and execution credibility — conditions under which private initiative thrives and jobs are created.
Against this backdrop, the Golden Residency provides a practical platform for the next leg of growth. By offering five‑ and ten‑year residency options linked to clearly defined investment pathways — company formation, job creation, eligible real estate, government bonds or bank deposits — the programme gives investors the continuity they value. Family inclusion strengthens our proposition: serious founders make long‑term decisions about place and schooling, not just spreadsheets.
The programme’s broader value is strategic clarity. It says Oman intends to be a base where talent and capital can build, not merely a venue for transactions. It complements capital‑market reforms, industrial policy and trade facilitation; and aligns with our geography: logistics corridors connecting Asia, Africa and the Middle East; a tourism offer grounded in safety and authenticity; and an energy system transitioning towards lower‑carbon competitiveness.
What does this mean for jobs and productivity? Long‑tenor residency anchors management teams in Oman, shortening the distance between decision and deployment. Factories are commissioned faster, hotel concepts move from design to opening, digital platforms scale regionally from a Muscat base and procurement localises. By encouraging company formation and partnerships, the programme should raise the share of value‑added retained in the economy and lift productivity.
We should also recognise the dynamism across our enterprise landscape. The non‑oil upswing is coming from services and industry — manufacturing, logistics, healthcare, education and creative sectors. Omani entrepreneurs — men and women — are building firms with export potential. The priority now is to turn today’s density of small and medium enterprises into tomorrow’s mid‑cap champions. As investors settle in and scale, they will demand local content, design, maintenance and digital solutions — the bridge to higher‑quality jobs for young Omanis.
To unlock the full dividend of the new residency framework, execution must be fast and predictable. Investors should experience an end‑to‑end journey — from eligibility to approvals to aftercare — on an integrated platform, with service‑level standards that match leading FDI destinations. Transparent criteria, published processing times and dedicated account managers will convert interest into investment. Equally, timely data on jobs, exports and local content will allow policy to iterate in real time.
With that in mind — and in the spirit of Oman Vision 2040’s pillars of a competitive economy, human capital and responsible institutions — I offer six practical recommendations to take Oman’s business ecosystem to the next level:
1) One‑stop investor journey: Consolidate Golden Residency applications, company set‑up, licensing and utilities onboarding into a single digital workflow with guaranteed timelines and a dedicated case manager for qualifying projects.
2) Scale‑up finance: Use improved sovereign credit standing to catalyse collateral‑light growth finance through local banks — backed by export credit and guarantee schemes — for firms expanding capacity, adopting technology or entering new markets.
3) Local‑content accelerators: Embed procurement incentives for consortia that include Omani SMEs in manufacturing, tourism and logistics. Publish annual targets for local content and supplier development by sector and reward firms that exceed them.
4) Skills for the pipeline: With industry and universities, roll out short, stackable programmes in project controls, smart‑construction tech, advanced maintenance, HSE and data — areas with immediate absorption in active projects.
5) Investor aftercare: Establish an Investor Success Office to troubleshoot barriers, monitor milestones and facilitate reinvestment. Retained and expanded FDI is often the fastest job creator.
6) Evidence, openly shared: Publish quarterly dashboards on residency approvals, investment committed, jobs created and export growth, with governorate and sector breakdowns. Open data helps private firms build services and sharpens competition among support providers.
Oman’s advantage has always been a blend of pragmatism and trust, anchored in our traditions and open to the world. The last eight months have shown what disciplined policy and partnership can deliver: firmer growth dynamics, revived investment‑grade standing and rising investor interest. The Golden Residency now gives us a durable platform to turn confidence into capital and capital into jobs. If we execute with the clarity and consistency that define Oman Vision 2040, we will widen opportunity for our people, deepen our export base and write the next chapter of sustainable growth — built in Oman, for Oman.
Dr. Yousuf Hamed Al Balushi
yousufh@omaninvestgateway.com
www.omaninvestgateway.com
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