The Sultanate of Oman. The second largest Gulf State, with an area of 309,500 sq.km. A legendary land with a vast coastline of 1700 kms and a rich sea-faring tradition. Known for the warm hospitality of its people.
Under the wise and able leadership of His Majesty Sultan Qaboos bin Said, Oman has been transformed into one of the region’s fastest growing economies, in a very short span of time.
Oil is the largest sector of the economy but the country is fast getting industrialised with the share of non-oil sector in the economy increasing substantially. Oman has already established state-of-the-art industries for manufacturing a variety of products.
Privatisation is opening many doors for investors. Power, water, roads, telecommunications & aviation are available as prospects for privatisation. The Oman government is pushing ahead fast, offering an increasing number of large projects for private investment.
In addition, the business & investor friendly policies of the Government are inviting more & more foreign investments to new projects. Not only is this helping to diversify the national economy, but also bringing in advanced technologies and boosting exports.
The many steps that the Government has taken to attract foreign investors include various economic incentives, such as the freedom to repatriate capital and profits, amongst many others. OCIPED is another body which has been set up specifically to help foreign investors.
These focused efforts have resulted in substantiated foreign investments in key ventures such as the Oman LNG project, the Aluminum Smelter project, the Fertilizer project amongst several other mega projects.
In addition, a series of measures have been taken to boost the tourism infrastructure. Billions of Dollars are also being invested in large residential projects like 'The Wave'.
To add momentum to the nation's progress, a third sea port has taken shape in Sohar. The Duqm Dry Dock is yet another momentous milestone that will transform the country's trade.
Today, Oman is rated amongst the most progressive nations of the region. And is poised to go even further ahead.