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Muscat: A new report by the United Nations (UN) shows that the Sultanate of Oman has attracted foreign direct investment (FDI) estimated at more than $3 billion in 2022.

The United Nations Trade and Development Board (UNCTAD) announced in its annual report on foreign direct investment flows for the year 2022 yesterday, Wednesday, July 5, 2023, in Geneva, that Oman attracted foreign direct investment worth 3 billion and 716 million dollars in 2022, compared to 2 billion and 889 million dollars in 2020.

The report showed that global foreign direct investment decreased by 12 percent in 2022.

It explained that the gap in investments in the world has now increased to 4 trillion dollars, from 2.5 trillion dollars in 2015, when the sustainable development goals were adopted.

The report stated that after a strong recovery in 2021, global foreign direct investment decreased by 12 percent in 2022, to $1.3 trillion, mainly due to the overlap of global crises: the war in Ukraine, high food and energy prices, and high public debt.

The UNCTAD report said: “Although investments in renewable energy sources have nearly tripled since 2015, most of the money has gone to developed countries.”

The report called for urgent support for the systemic countries to enable them to attract significantly more investments, for its transition to clean energy.