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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

FDI inflow shows strength of Sultanate’s economy

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LONDON: A report by UK-based Invest Money, which analyses market data and investment trends in the world, on its website, said that the continued flow of foreign investments is an indicator of the strength of the Omani economy.


The report added that according to government data, foreign direct investment (FDI) in the Sultanate reached RO 7.7 billion in 2016, an increase of $1 billion more than in the year 2015, which was welcomed by analysts and experts as a healthy indicator that the Sultanate is on the right track to diversify and develop its economy.


The report further said, “According to the National Centre for Statistics and Information, the Omani economy witnessed an increase of RO 800 million in foreign direct investment last year”.


It pointed out that according to the annual report of 2016 issued by the Central Bank of Oman (CBO), the value of foreign direct investment in 2015 hit about RO 6.67 billion.


Dr Anchan C K, Investment and Economy Adviser, said that the flow of foreign direct investment shows the strength of the Omani economy, with global foreign direct investment flows falling by 2 per cent to $1.75 trillion and falling of investment in developing countries more than 14 per cent while the flows to the least growing countries and weak economies are still structurally weak and volatile.


He said that the continued flow of foreign direct investment into the Sultanate underscores the strength of the local economy and its ability to create new opportunities for investors, confirming its status as a preferred international investment region in the Middle East.


The report affirmed that the oil and gas exploration accounted for 47.9 per cent of total foreign direct investment, according to the NCSI.


The real estate, rents and commercial projects sector increased to 8.5 per cent while other sectors rose by 12.8 per cent.


The report pointed out that foreign direct investment in the manufacturing sector amounted to RO 986.4 million. The real estate and commercial activities received RO 622.2 million of foreign investments by the end of the third quarter of 2016.


The report added that the United Kingdom (UK) topped the list of investors in Oman with RO 2.797 billion, followed by the United Arab Emirates (UAE) with RO 924.8 million and Kuwait with RO 391.1 million. — ONA


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