Sultanate sees 5.9% rise in foreign investments

MUSCAT: The total volume of foreign investments in the Sultanate amounted to RO 16.232 billion by the end of 2017, compared to RO 15.450 million by the end of 2016; representing an increase of 5.9 per cent and a 60 per cent of the Sultanate’s Gross Domestic Product (GDP), according to the data generated from the Foreign Investments Survey conducted by the National Centre for Statistics and Information (NCSI).

The Foreign Direct Investment (FDI) formed 56.4 per cent of the total volume of the foreign investments by RO 9,201.1 million, compared to RO 8,097.1 million in 2016; or a 13.9-per cent increase. As a percentage of GDP, the FDI represented an increase by 31.9 per cent by the end of 2016 to 33.8 per cent by the end of 2017. At the same time, the final dividend volume amounted to RO 731,500,000 and the volume of funds reinvested stood at RO 136,900,000.

By the end of 2017, FDI generated franked income of RO 2,043.9 million and provided employment opportunities to 266,149 people with total salaries of RO 2,354.1 million.

According to the findings of the survey, the FDI in investment portfolios amounted to RO 793,100,000; or a decrease of 11.8 per cent with funds flows of RO 106,200,000, in derivative market RO 33,800,000 representing a 46.6-per cent decrease with funds flows of RO 29,500,000 and in commercial lending, loans and deposits RO 6,295,000 with a 1.3-per cent decrease and funds flows of RO 84,100,000.

At the level of economic sectors, oil and gas secured a total of 37.5 per cent of the FDI in 2017 (RO 4,905.3 million), followed by financial intermediaries (excluding investment funds, development banks and retiring funds) by 29.4 per cent (RO 2,474.8 million), manufacturing by 17.6 per cent (RO 2,134.1 million), real estates and other related activities of telecommunication and transport by 3.8 per cent (RO 638,900,000), trade by 2.4 per cent (RO 279,400,000), construction by 1.5 per cent (RO 164,200,000), hotels and restaurants by 1.2 per cent (RO 152,600,000), other activities by 0.6 per cent (RO 98,100,000) and power by 1.6 per cent.— ONA