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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 already has
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 Omani 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 investment
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 resort cum residential projects like
the ‘Blue City and ‘The Wave’
Today Oman is rated amongst the most progressive nations of
the world. And is poised to go even further ahead. |
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