WHY OMAN
Robust Evolving Economy
Oman has a fast-diversifying economy with local-to-global growth prospects. In an effort to diversify Oman’s economy, the government is focused on developing.
US$8 bn in 2021 Contribution to Oman's GDP
+15% in 2021 Increase
Manufacturing
US$5.2 bn by 2040 Expected contribution to GDP
+15% in 2021 Increase
Fisheries
US$629 mn in 2021 Contribution to Oman's GDP
147mn MT by 2023 Production set to reach
Mining
30% By 2023
Oman's electricity to be from renewable sources .
Renewable Energy
+ 81,000 In 2022 Employees
US$950mn In 5 years In up to 23 new food related ventures in the coming
Agriculture
80% by 2030
Planned diversion of municipal solid waste into recovery- recycling-reuse initiatives
Circular Economy
2.4% in 2021 GDP
103 countries No entry visa for stays up to 14 days
Tourism
6.2% by 2025
Projected share of Oman's GDP 2,133 in 2022 schools with 898,073 students and 72,845 teachers
Education
US$4.9 bn in 2022 In healthcare spending
70,000+ in 2022 Employees
Healthcare
Sport
Sport
Petrochemical
Petrochemical
Business Friendly Economy
Oman has a fast-diversifying economy with local-to-global growth prospects. In an effort to diversify Oman’s economy, the government is focused on developing.
Foreign Ownership
100% nationwide
Business Set-up
Quick hassle-free business set-up
Income Tax
No personal income tax
Signatory
Signatory to WTO, GCC common market, GAFTA, FTAs with USA, Singapore, Iceland, Norway, Switzerland and Lichtenstein
S&P Global Rating BB
S&P Global Rating BB- with stable outlook
Custom Exemptions
Imports of plant machinery and raw materials are exempt from customs duties for five years from the start of production
Capital & Profit Repatriation
Transfers of capital, profits, money, or dividends are not subject to any restrictions
International Success
A strong track record of supporting Omani companies to compete in the increasingly difficult global market. Omani goods and services are very popular abroad and are offered in more than 130 nations through its embassies and consulates
Political and Economic Stability
We are proud with Oman's government transparency, sound economy, and peaceful politics
Legal Clarity
An climate with laws that are supportive of investors
Strategic Location
Oman is at the nexus of trade routes and at the heart of the GCC market with its 59mn consumers. Plus we neighbour the growing markets of Asia and Africa. By 2025, emerging markets will account for US$30tr of consumer spend – nearly half the global total. Thanks to our location and world-class infrastructure, reaching these markets from Oman is easy.
Cost of Doing Business
The World Bank ranks Oman as one of the most cost-effective countries in the Middle East for doing business in terms of labour, utilities, facilities, transportation, financing costs and taxes.
Intellectual Capital
Oman has an abundance of intellectual capital. Our higher education institutes have a track record of working with industry to deliver innovation across major sectors including manufacturing, fisheries, tourism, logistics, mining, renewable energy, healthcare, petrochemicals, and education.
Seamless Connectivity
Maximizing the potential of Oman’s strategic location is our award winning infrastructure
Five modern airports
Roads ranked amongst the best
in the world
Four world-class
sea ports
Growing coastal ferry and
shipping services
Framework for Success
Providing a framework that supports successful investment and business in Oman are our industrial estates, free zones, special economic zones and technology parks – all future-ready and thriving hubs of enterprise and innovation.
Natural Resources
Oil, gas, minerals, metals, seafood, and other natural resources of Oman give producers access to a ready supply of raw materials. Our strategic position and logistical network offer a dependable supply for any additional resources that may be imported, keeping costs down because production inputs and machinery are exempt from import charges.
Top Talent
We have an outstanding talent pool of motivated and skilled multi-lingual individuals who are innovative and entrepreneurial, and ensuring Oman has a qualified, capable and productive workforce equipped with the in-demand skills needed by our ambitious companies as they power forward in domestic and international markets is the National Training Fund. Companies in Oman also benefit from the contributions of talent from across the world.
129,000+
30,000+
80%
2
25%
Economic and Financial Plans
By aligning financial policies with the needs of economic growth through a set of economic and financial plans, Oman Vision 2040 seeks to achieve financial sustainability without harming the government’s capacity to carry out the vision’s economic and social goals, With the aim of encouraging the private sector, attracting investments, and attracting competencies.
The tenth five-year development plan 2021-2025
Medium term fiscal balance plan 2020-2024.
Economic stimulus plan
Social protection initiatives
Enviable Lifestyle
Oman is an outstanding place to set up home, raise a family, grow your business and develop your career
Exceptional
Natural beauty
Diverse entertainment
Sport and leisure options
Five UNESCO
World Heritage sites
Invest Easy
The Ministry of Commerce, Industry and Investment Promotion worked with partners from other government departments to create Invest Easy, one of the flagship Omani government portals. It is a superb illustration of how to improve the business environment of a nation utilizing international best practices and standards. It is a complete set of online services created to give the business community a single point of contact with the government for all of their interactions, from forming a new corporation to obtaining licenses for certain activities to submitting yearly reports. The portal is based on the national e-Transformation strategy of the government, and the execution is entirely based on that model. Through Invest Easy, new businesses can register, request licenses from 10 governmental entities, and authorize more than 1,500 economic activities in a matter of minutes. More than 286,000 licenses have been granted since the Invest Easy platform was introduced, 38,000 of which go to foreign investors.
Your Journey To Invest in Oman
The growing destination of Oman provides multiple benefits to global business investors that provoke them to proceed with the business incorporation process.
