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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.

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