The Sultanate of Oman is the second largest Gulf State, with an area of 309,500 sq.km. A legendary land with a vast coastline of 1700 kms and a rich sea-faring tradition. Known for the warm hospitality of its people.
Under the wise and able leadership of Late His Majesty Sultan Qaboos bin Said, Oman has been transformed into one of the region’s fastest growing economies, in a very short span of time. Now under the guidance of His Majesty Sultan Haitham Bin Tarik, Oman will continue to march ahead on this progressive road, maintaining its prominent place as a nation for development, progress and prosperity.
Oil is the largest sector of the economy but the country is fast getting industrialised with the share of non-oil sector in the economy increasing substantially. Oman has already established state-of-the-art industries for manufacturing a variety of products.
Privatisation is opening many doors for investors. Power, water, roads, telecommunications & aviation are available as prospects for privatisation. The Oman government is pushing ahead fast, offering an increasing number of large projects for private investment.
In addition, the business & investor friendly policies of the Government are inviting more & more foreign investments to new projects. Not only is this helping to diversify the national economy, but also bringing in advanced technologies and boosting exports.
The many steps that the Government has taken to attract foreign investors include various economic incentives, such as the freedom to repatriate capital and profits, amongst many others. OCIPED is another body which has been set up specifically to help foreign investors.
These focused efforts have resulted in substantiated foreign investments in key ventures such as the Oman LNG project, the Aluminum Smelter project, the Fertilizer project amongst several other mega projects.
To add momentum to the nation’s progress, besides the popular Duqm port, the award winning Muscat International airport is another milestone. Today, Oman is rated amongst the most progressive nations of the region. And is poised to go even further ahead.