Oman emerges as a leading destination for UK investors

Oman Tuesday 07/March/2023 23:45 PM
Oman emerges as a leading destination for UK investors

Muscat: Oman is a leading destination for British investors and this is further expected to get a big boost with a delegation touring the Invest Oman hall on Tuesday.

British companies’ investment in Oman touched $23.5 billion in 2022, up by 9.3 percent, compared to the figures of 2021, Ahmed Salim Al Rasbi, Director General of the Investment Services Centre at the Ministry of Commerce, Industry and Investment Promotion, said.

“The volume of trade exchange between Oman and the United Kingdom grew to about $362.3 million by October 2022, which was 20.3 percent higher than the figures of the corresponding period in 2021,” he added.

The delegation of British investors represented a group of companies operating in the sectors of mining, technology, agriculture, services and logistics were briefed about various incentives offered to them, investment mechanisms and related procedures.

They toured several sections of Invest Oman where they were updated about the most important services provided to investors wishing to do business in Oman, the departments offering the services, enabling factors, relevant information and opportunities available in different economic sectors.

A visual display that was presented to the delegation demonstrated investment advantages, the Investor Residency Programme, incentives and facilities available at special economic zones and free zones.

This visit was organised by the Sultanate of Oman’s embassy in the United Kingdom, in cooperation with the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). It reflects the concept of promoting and attracting foreign investments to the Sultanate and presenting the incentives and facilities offered to investors.

Al Rasbi said that the British delegation was briefed about salient features of the investment climate in Oman, the role of the hall and the services it provides to investors within the context of a clear mechanism and basic tools to streamline an investor’s business.

The British delegation will also meet a number of Omani entrepreneurs to discuss investment partnership opportunities and the possibility of opening branches for British companies’ products in Oman.