Concentrated in 14 industrial activities
Sultanate of Oman promotes 50 investment opportunities
Expo 2020 Dubai is a platform to promote the Sultanate as an investment destination.
From the source
Photography: Osama Abu Ghanem
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Hawra Al Wahaibi, Director of the Investment Promotion Department at the Ministry of Commerce, Industry and Investment Promotion in the Sultanate of Oman, said that the total value of foreign investments to the Sultanate is estimated at $40 billion, most of which are concentrated in the manufacturing sectors as well as the oil and gas sector.
She added in a press statement, during the "Invest in Oman" forum, which was held at the "Expo 2020 Dubai" exhibition: "Most of these foreign direct investments come from the markets of the United States and the UAE, as well as the United Kingdom and the Arab Gulf states," noting that " The UAE is among the top three markets in terms of foreign direct investment.
She confirmed the offering of 50 investment opportunities in the Sultanate during the first half of this year, noting that the goal is to familiarize investors with the existence of these opportunities and identify them in various sectors, especially industrial and sub-sectors that fall under them, explaining that “these opportunities are open to all investors.
There are preliminary studies and feasibility studies for it to show its advantages.”
Al-Wahaibi expected a rise in the volume of foreign direct investment during the coming period, noting that there was a slight increase in its percentage during the first and second quarters of this year, pointing out that the pandemic caused a stagnation of investments all over the world.
She said, "Expo 2020 Dubai is a platform to promote the Sultanate as an investment destination, and to introduce them to the available opportunities," pointing out that the Sultanate is cooperating with all countries of the world to attract investors during this international event.
Ahmed Tabuk, Director General of Commercial Affairs in the Free Zones "ASYAD", said that "the Sultanate of Oman provides several facilities for foreign investors, and is a stimulating environment for foreign investment, due to its political and economic stability, in addition to providing advantages and facilities, both in the special economic zones." Or free or fuller inside the state.”
In addition, Director General of Investors Services at the Public Establishment for Industrial Estates "Madayn", Ibtisam Al-Frouji, said that "the participation of the Sultanate of Oman in (Expo 2020 Dubai), and the organization of the (Invest in Oman) forum aims to enhance cooperation and investment opportunities between the UAE and the Sultanate of Oman. Where investment opportunities are presented in the economic and free zones and various industrial zones.
The recipient’s sessions focused on these investment opportunities, and the participants indicated that the opportunities are concentrated in 14 industrial activities, including four main industrial activities, represented in the sectors of food products, in addition to the manufacture of rubber and plastics, the manufacture of non-metallic and metallic products, and other opportunities. The Sultanate mediates the commercial markets between East and West in Europe, Asia and North America, in addition to its proximity to Africa.
They explained that the Sultanate focuses on economic diversification, through the development of non-oil economic sectors, and through privatization policies, in order to reduce dependence on oil revenues. The Sultanate does not impose restrictions on capital, return of profit, currency exchange or profit transfers. The Sultanate also imposes a tax rate that does not exceed 15% on taxable companies.
They pointed out that the Sultanate has signed agreements with the World Trade Organization, the Gulf Common Market, the Greater Arab Free Trade Zone, and with the United States, Singapore, Iceland, Norway, Switzerland and other countries, in the context of increasing the attractiveness of the investment market, noting that the Sultanate provides an appropriate legislative environment. For the investor, with no restrictions on the return of capital or profits.
• «The UAE is among the top three positions for the largest direct investments in the Sultanate of Oman».