Foreign direct investment (FDI) in the Sultanate of Oman has reached new heights, surpassing OMR 27.13 billion by the close of 2022. This remarkable milestone, as revealed by preliminary data from the National Centre for Statistics and Information (NCSI), reflects a significant increase from the previous year’s figure of OMR 25.08 billion.
The surge in FDI accounted for 4.8 percent of Oman’s gross domestic product (GDP) at current prices, underscoring the country’s growing appeal to international investors. Notably, oil and gas extraction emerged as the top sector attracting foreign investments, constituting 56.4 percent of the total FDI, valued at OMR 15.32 billion.
The United Kingdom emerged as the leading source of FDI, contributing OMR 9.62 billion, followed by the United States of America at OMR 3.68 billion and China at OMR 1.03 billion. Other significant contributors include the United Arab Emirates, Kuwait, and Qatar.
Meanwhile, Omani investment abroad totaled OMR 5.38 billion by the end of 2022, with the United Arab Emirates receiving the highest Omani investment, followed by the Kingdom of Saudi Arabia and the United Kingdom.
The FDI landscape of Oman reflects its strategic positioning as an attractive destination for international investments, particularly in key sectors such as oil and gas. As the country continues to foster strong partnerships and initiatives, it is poised to accelerate its economic growth and development on the global stage.
