Economy UK leads Oman’s FDI growth of 27% to nearly $13bn By Pramod Kumar January 29, 2024, 4:18 AM 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. Oman expects a ratings rebound but oil’s grip is strong Oman Air cancels some flights to South Asian cities Profit of Omani-listed banks rises 19% to $1.17bn in 2023 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.
