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Oman: In a statement released on Saturday, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) announced a significant increase in the number of commercial records registered by GCC investors in Oman. The records rose by 16.3%, reaching 527 in 2022, compared to 453 in 2022.

According to the ministry, the cumulative number of records registered by Gulf investors by the end of 2022 reached 7,859, reflecting a positive trend in investment activities. Among the GCC nations, Emirati investors accounted for 164 commercial records, bringing their cumulative total to 3,695 at the end of 2022.

Similarly, Saudi investors recorded 185 commercial registries, increasing their cumulative number to 1,504 by the end of the same year, as reported by MoCIIP. Bahraini investors registered 61 commercial records, raising their cumulative number to 1,078, while Kuwaiti investors registered 76, reaching a cumulative total of 1,043 registries.

In 2022, Qatari investors recorded 41 commercial registries, resulting in a cumulative total of 539 by the year’s end. These figures demonstrate the growing interest and confidence of GCC investors in the business opportunities available in Oman.

Moreover, the MoCIIP has been actively working towards the economic diversification and growth of Oman. Their action plan focuses on raising the classification of the Sultanate in international indicators, promoting FDI, achieving balanced development across various governorates, and expanding and diversifying exports.

The ministry emphasized that its initiatives and plans aim to promote investment opportunities, attract high-quality investments in sectors related to economic diversification, and foster a conducive environment for the success and growth of all investments. Furthermore, this commitment reflects the Sultanate’s dedication to sustainable economic development and creating a favorable investment climate for both domestic and international investors.

As the MoCIIP continues its efforts, it is anticipated that Oman will witness further economic expansion and attract more investments.