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UK leads Oman’s FDI growth of 27% to nearly $13bn

Oman's oil and gas industry received the majority of investments, accounting for 52.8%of total FDI Oman News Agency
Oman's oil and gas industry received the majority of investments, accounting for 52.8%of total FDI

Foreign direct investment (FDI) in Oman rose 26.6 percent year on year to OR4.8 billion ($12.6 billion) in the third quarter of 2023.

The United Kingdom emerged as the leading contributor to FDI, injecting OR2.4 billion ($6.2 billion), Oman Daily Observer news outlet reported, citing data from the National Centre for Statistics and Information.

The United States and the UAE followed with investments of OR1.4 billion and OR160 million, respectively.

The oil and gas industry continued to receive the majority of investments, accounting for 52.8 percent of the total FDI.

Real estate, leasing, and business activities secured a 15.6 percent share, followed by the financial intermediation sector with 10.5 percent.

Earlier this month, Oman launched an OR2 billion ($5.2 billion) fund to encourage more investment in local small and medium-sized enterprises as the sultanate looks to capitalise on growth in support for startup businesses.

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