Skip to content Skip to Search
Skip navigation

UK dominates $60bn foreign direct investment into Oman

By Pramod Kumar
containers dockside Oman Oman News Agency
The UK contributed just over half of all foreign direct investment in Oman, followed by the US and the UAE

Foreign direct investment in Oman hit almost OMR23 billion ($59 billion) by the end of the third quarter of 2023, with the UK accounting for the half of it, preliminary data issued by the National Centre for Statistics and Information has revealed.

Nearly 77 percent (OMR17.67 billion) of the total foreign direct investment focused on the oil and gas sector, the state-run Oman News Agency reported.

Oman’s converting industries sector reported FDI of OMR1.41 billion.

The financial intermediation activity followed with OMR1.53 billion, while foreign direct investment in Oman’s real estate, leasing and commercial activities reached OMR1.04 billion.

The UK constituted just over 50 percent of total foreign direct investment in Oman, worth OMR11.52 billion, followed by the US (OMR3.88 billion) and the UAE (OMR1.28 billion).

Investment in Oman’s special economic zones and industrial cities reached OMR16.6 billion ($43.38 billion) as of June 2023, according to the Public Authority for Special Economic Zones and Free Zones.

Latest articles

Israel Lebanon damage

Israeli bombardment costs Lebanon at least $1.5bn

Israel’s bombardment of southern Lebanon in response to the Hamas attacks on October 7 has caused more than $1.5 billion of damage to buildings and infrastructure, the country’s Southern Council says. The president of the council, Hicham Haidar, told AGBI that damage to residential and commercial buildings stands at $1 billion, with 1,700 buildings destroyed […]

Sharjah RAK gas Mahani field

Sharjah buys slice of concession in RAK in hope of gas

The state-owned Sharjah National Oil Corporation (Snoc) has acquired a 30 percent stake in a concession located onshore in Ras Al Khaimah from the Italian energy company Eni in the hunt for gas. Block 7, awarded to Eni in 2021, covers an area of 430 square km and is being actively explored, with drilling of […]

Clothing, Hardhat, Helmet A worker makes notes at a Saudi Arabian steel factory; the industrial production index fell from 114 points in March 2023 to 104 in March 2024

Industrial output falls in Saudi Arabia after oil cuts

Saudi Arabia’s industrial output index has fallen almost 9 percent over the past year, largely due to a policy of oil production cuts the government began in mid-2022. The industrial production index fell from around 114 points in March 2023 to 104 in March 2024, as mining and quarrying fell by 14 percent and manufacturing […]

Dubai Lifestyle City as it was meant to look. Two different developers failed to complete the project

Plots from failed Dubai Lifestyle City project up for auction

Plots of land from a never-completed AED2.4 billion ($650 million) development in Dubai, once endorsed by tennis star Maria Sharapova, have been put up for auction. The abandoned Dubai Lifestyle City project was announced in 2007 by developer ETA Star Projects, a division of the ETA-Ascon business group. It promised buyers “high style living” in […]