Muscat: The Sultanate of Oman is witnessing a broad qualitative transformation in the investment management and promotion system through the adoption of a unified national model under the umbrella of ‘Invest Oman’ platform, which has become today the leading identity encompassing various governmental and private efforts in attracting quality investments.
Ibtisam bint Ahmed Al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, said that this transformation represents a strategic step through which the Sultanate of Oman moved from multiple paths and varying procedures to a unified system that includes more than 22 entities working within one channel, which contributed to accelerating and simplifying procedures and providing more efficient services to investors.
Her Excellency explained in a statement to the Oman News Agency that “Invest Oman” is an integrated system that includes a unified hall for receiving investors, a specialised investor relations team that follows up on projects from the idea stage to operation, in addition to a national negotiation team that enhances the quality of contracts and preserves the interests of the state.
The system also includes an advanced digital investment map and a unified government link that provides fast tracks for priority projects.
Her Excellency emphasised that this transformation has strengthened the presence of the Sultanate of Oman on the global investment map and contributed to building a more flexible and competitive business environment.
She noted that the economic indicators during the past two years reflect the impact of government reforms, as the volume of foreign direct investment has increased to more than US$78 billion with a growth rate exceeding 12 percent, in addition to the Sultanate of Oman rising to fourth place globally in the list of the most prominent entities in the field of foreign direct investment, which represents clear evidence of the international community’s confidence in the Omani economy and the legislative and regulatory stability in the country.
Her Excellency explained that these results came as a result of reforms that included the establishment of the Investment Court, the development of Golden Residency policies, and the promotion of digital integration between government agencies.
Regarding the targets for the years 2026-2028, Her Excellency indicated that the Sultanate of Oman is focusing on attracting quality companies operating in the green hydrogen, metal industries, advanced technologies, logistics, food security and tourism sectors, while giving priority to projects that transfer knowledge, provide high-value jobs and support the green economy.
Her Excellency added that future efforts include developing and localising ready investment opportunities within the digital platform to be complete with data and ready for direct negotiation, which will accelerate the closing of deals and the signing of investment contracts.
She noted that the past period witnessed clear progress in several strategic projects, including a polysilicon production project in Sohar with an investment exceeding OMR520 million and a production capacity of up to 100,000 tonnes annually, and the “JA Solar” project for manufacturing solar cells and panels with an investment of approximately OMR217 million and a capacity exceeding 40 gigawatts annually in the Sohar Free Zone, in addition to a project specializing in one of the battery manufacturing chains in the Salalah Free Zone.
Her Excellency explained that these projects represent practical evidence of the success of the “Invest Oman” system in accelerating negotiations, facilitating procedures and providing an attractive investment environment that transforms opportunities into existing projects, stressing that the Sultanate of Oman is moving steadily towards strengthening its position as a promising economic center and an attractive destination for quality investments that contribute to diversifying the national economy and supporting the objectives of “Oman Vision 2040”.
--
