Muscat – Invest in Oman Hub, the official investment platform under the Ministry of Commerce, Industry, and Investment Promotion, has successfully attracted numerous promising investment projects since its launch in January 2023. To date, the hub has recorded 29 investment projects worth RO1.2bn.

The hub acts as an integrated platform to attract investors, including financial institutions and development funds. It targets strategic sectors that Oman aims to strengthen through foreign direct investment, in line with Oman Vision 2040.

Invest in Oman Hub simplifies the investment process for foreign investors by offering incentives, strong infrastructure, and a skilled workforce. It supports projects in sectors such as renewable energy, technology, innovation, tourism, the circular economy, mining, and food security. Additionally, it provides an opportunity map, feasibility studies, and specialised teams to engage with global companies and analyse incoming investments, ensuring that the right incentives are offered.

High-value investments

In a press statement, Hafsa bint Salem al-Rashdiya, Director of Investor Relations at the Invest in Oman Hub, noted that the industrial sector leads in attracting investments, followed by renewable energy and healthcare. She emphasised the hub’s critical role in attracting high-value investments by coordinating efforts with relevant ministries and international embassies.

The Invest in Oman Hub has also facilitated significant investments from both local and global real estate companies for the development of Sultan Haitham City, totaling RO439mn in collaboration with the Ministry of Housing and Urban Planning.

One major project in the industrial sector is a polysilicon plant in the Sohar Freezone, which has an investment exceeding RO520mn and is expected to open in 2025.

Since its inception, Invest in Oman Hub has developed a digital platform to promote Oman’s investment environment. This platform offers investors essential information, including an interactive opportunity map, relevant laws, incentives, and a self-service feature for foreign investors to establish their businesses in Oman, saving them time and effort. As of May 2024, the database contains 1,881 contacts, including investors and delegations received.

Rabab bint Mustafa al-Lawatiya, Head of the National Negotiation Team at the Invest in Oman Hub, explained that the hub aims to streamline procedures for investors. Upon arrival, investors are welcomed by service ambassadors who assist with necessary paperwork, such as opening a bank account or registering a business. Each investor is assigned a relationship manager for ongoing support throughout their investment journey, ensuring seamless service even after project implementation.

Rabab emphasised that the hub will continue to enhance services for investors, making Oman a preferred global investment destination. The focus will remain on sectors aligned with global economic trends, such as renewable energy, artificial intelligence, technology, and sustainable tourism, in accordance with Oman Vision 2040.

The hub aims to strengthen investor relations, utilise global platforms, and present Oman as a competitive and promising investment destination.