RO 166m investment opportunities in manufacturing
Published: 02:09 PM,Sep 16,2024 | EDITED : 09:09 AM,Sep 17,2024
This approach also promotes Oman’s participation in global value chains and supports job creation, with a particular emphasis on benefiting SMEs.
MUSCAT: Invest Oman, the official investment promotion agency under the Ministry of Commerce, Industry, and Investment Promotion, has announced the launch of 10 new strategic investment opportunities in the manufacturing sector, collectively valued at over RO 166 million. These initiatives are part of Oman's broader efforts to attract foreign direct investment (FDI) and offer investors pre-feasibility-backed opportunities in sectors aligned with global trends, such as renewable energy, technology, artificial intelligence, tourism, circular economy, and food security.
The new projects focus on industrial technologies, building materials, and advanced manufacturing, reinforcing Oman's position as a destination for innovation and growth. To enhance the attractiveness of these opportunities, Oman offers various incentives, including tax exemptions and discounts on essential services, aimed at reducing operational costs and fostering local industry development. This approach also promotes Oman’s participation in global value chains and supports job creation, with a particular emphasis on benefiting SMEs.
Invest Oman has also introduced a digital platform to simplify the investment process. This user-friendly tool enables investors to explore available opportunities through an investment map, access detailed feasibility studies, and submit applications with ease. The platform is designed to streamline the investment process and provide personalized support to potential investors.
Eng Alaa bint Said al Jardani, Director of Investment Opportunity Development at the Ministry of Commerce, Industry, and Investment Promotion, highlighted Oman's appeal to foreign investors, stating: 'Oman has a wealth of resources that make it a prime destination for foreign capital. We offer high-value projects that can stimulate the national economy and contribute to local employment. Our digital platform provides investors with comprehensive services, guiding them through each step—from identifying opportunities to securing incentives and support.'
Since its inception in 2023, Invest Oman has played a key role in driving international investment into sectors aligned with Oman Vision 2040. By collaborating with government agencies and the private sector, the agency has developed over 70 investment opportunities across industries such as logistics, tourism, IT, food security, and manufacturing.
Oman's focus on infrastructure and investor support is positioning the Sultanate of Oman as a leading FDI destination in the region. Invest Omanremains proactive in engaging with international companies, analyzing market trends, and offering customised incentives to ensure sustainable success for investors. Recently, CeoWorld magazine ranked Oman 21st globally in its 2024 list of the World’s Best Countries to Invest In or Do Business, reinforcing Oman’s growing reputation as a competitive global investment hub.
The new projects focus on industrial technologies, building materials, and advanced manufacturing, reinforcing Oman's position as a destination for innovation and growth. To enhance the attractiveness of these opportunities, Oman offers various incentives, including tax exemptions and discounts on essential services, aimed at reducing operational costs and fostering local industry development. This approach also promotes Oman’s participation in global value chains and supports job creation, with a particular emphasis on benefiting SMEs.
Invest Oman has also introduced a digital platform to simplify the investment process. This user-friendly tool enables investors to explore available opportunities through an investment map, access detailed feasibility studies, and submit applications with ease. The platform is designed to streamline the investment process and provide personalized support to potential investors.
Eng Alaa bint Said al Jardani, Director of Investment Opportunity Development at the Ministry of Commerce, Industry, and Investment Promotion, highlighted Oman's appeal to foreign investors, stating: 'Oman has a wealth of resources that make it a prime destination for foreign capital. We offer high-value projects that can stimulate the national economy and contribute to local employment. Our digital platform provides investors with comprehensive services, guiding them through each step—from identifying opportunities to securing incentives and support.'
Since its inception in 2023, Invest Oman has played a key role in driving international investment into sectors aligned with Oman Vision 2040. By collaborating with government agencies and the private sector, the agency has developed over 70 investment opportunities across industries such as logistics, tourism, IT, food security, and manufacturing.
Oman's focus on infrastructure and investor support is positioning the Sultanate of Oman as a leading FDI destination in the region. Invest Omanremains proactive in engaging with international companies, analyzing market trends, and offering customised incentives to ensure sustainable success for investors. Recently, CeoWorld magazine ranked Oman 21st globally in its 2024 list of the World’s Best Countries to Invest In or Do Business, reinforcing Oman’s growing reputation as a competitive global investment hub.