The Sultanate of Oman is ranked among the Top 10 countries of the Middle East and North Africa (MENA) region that stand to benefit from strong investment inflows in 2023, buoyed by investment momentum garnered during the previous year.
According to Invest Oman, the official investment marketing initiative managed by the Ministry of Commerce, Industry & Investment Promotion (MOCIIP), Oman is “making its presence felt in the investment world’, having been ranked fourth globally in the 2023 FDI Standouts Watchlist compiled by FDI Intelligence.
In a social media post on Sunday, Invest Oman referred to the Sultanate of Oman’s inclusion among MENA’s Top 10 countries to “carry the strongest investment momentum into 2023”, as affirmed by the FDI Intelligence report.
Oman, with a flourishing economy and a business-friendly environment, is quickly gaining recognition as a prime investment destination in the MENA region, FDI Intelligence had noted in its report. It highlights Oman's growing influence in the world of investment, underlining its sustained macroeconomic and foreign direct investment (FDI) trajectory.
Per FDI Intelligence, Oman's strategic location, coupled with its impressive natural resources, has bolstered its economy and made it an attractive investment destination. The country has made significant progress in diversifying its economy, with a particular focus on non-oil sectors, such as manufacturing, mining, and logistics. Oman's unwavering commitment to promoting foreign investment has resulted in a surge in FDI projects, attracting significant investments from businesses across the globe.
In the FDI Intelligence, Oman achieved a score of 81.14 (out of 100) in Investment Momentum, an anticipated 4.1 per cent GDP growth in 2023 (based on IMF estimates), inflation limited to 1.9 per cent, and 27 per cent growth in FDI capex (CAGR 2019 – 2022), Invest Oman noted in its post
Oman Observer is now on the WhatsApp channel. Click here
