Oman’s FDI jumps 17.6% over five years, reaching $69.3bn by Q3 2024.
Oman’s foreign direct investment inflows rose by over 17.6 percent over the past five years, reaching 26.6 billion Omani rials ($69.3 billion) by the third quarter of 2024.
As reported by the Oman News Agency, this significant growth highlights the country’s success in solidifying its position as a key global investment hub. The rise has been fueled by strategic initiatives, a conducive capital environment, and advanced infrastructure.
This increase in Oman’s FDI aligns with a global rise of 11 percent in FDI flows in 2024, which reached $1.4 trillion. However, developing Asia saw a 7 percent decline in its FDI inflows, according to the UN Conference on Trade and Development.
According to the National Center for Statistics and Information, the UK led the way with investments totaling 13.6 billion rials, followed by the US with 5.2 billion rials. The UAE contributed 836.5 million rials, while Kuwait invested 833.5 million rials. China invested 817.8 million rials, and Switzerland added 551.9 million rials.
Qatar’s investments in Oman reached 488.3 million rials by the end of the third quarter, with Bahrain contributing 375.7 million rials. Investments from the Netherlands and India amounted to 359.1 million rials and 286.1 million rials, respectively.
Oman’s Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammed Al-Yousef highlighted that high-level directives aimed at improving the capital climate have played a key role in building a promising economic future.
Source: ARABNEWS
