Under the wise leadership and prudent guidance of His Majesty Sultan Haitham bin Tariq, may God protect him, the Sultanate of Oman has reshaped its economic and commercial approach. With the launch of Oman Vision 2040, a new dynamic era of economic growth began – a renewed chapter of the blessed Renaissance.
Oman Vision 2040 is the national reference for economic and social planning in the Sultanate of Oman for the period 2021-2040, from which the national sectoral strategies and five-year development plans are derived. The Vision was prepared through wide community participation, and the Vision document was approved by His Majesty Sultan Haitham bin Tariq – may God protect him – at the end of 2020, with work on it running from the start of 2021 through 2040.
By 2025, one billion people will join the global consumer class, around 600 million of them living in emerging markets on Oman’s doorstep. Companies that understand and respond to these shifting dynamics stand to gain enormously. Oman occupies a strategic position and offers a strong business base, a proven track record, infrastructure, expertise, leadership, and global connectivity that can help any company move forward with its ambitions.
Helping Omani companies enter developed and emerging markets matters to us. In fact, the number of Omani companies exporting to international markets keeps growing. Omani non-oil exports reached USD 9.11 billion in 2022, going to more than 130 countries – a 41% increase over 2021.
The Sultanate of Oman is a member of the World Trade Organization and the GCC Common Market, and a signatory to the Greater Arab Free Trade Area (GAFTA) agreement. It also has free trade agreements with the United States, Singapore, Iceland, Norway, Switzerland, and Liechtenstein.
Oman offers customs exemptions on the import of factory machinery and raw materials for five years from the start of production.
Oman stands out for its stability and legal transparency, along with low bureaucracy and low taxes, backed by ambitious plans and large-scale projects. Investors can set up their businesses quickly and with minimal red tape, while the country's legislative framework lets them operate directly and hassle-free. High-quality, affordably priced office space and workspaces are available across the country, alongside competitive setup and operating costs that put companies based in Oman on the path to success.
Oman is one of the leading investment destinations in the Middle East, offering an ideal environment for business growth and capital appreciation – one built on political stability, well-regulated laws, government support for investors, and economic balance. Thanks to this environment for growth and prosperity, investors can build their ventures with confidence and efficiency while maximizing their profit margins.
Moreover, Oman has achieved solid growth in overall foreign direct investment inflows, thanks to initiatives that incentivize and streamline investment procedures, while sustaining a healthy pace of economic growth over recent years.
Oman’s economic success is also driven by other advantages such as political and security stability, economic stability, and a strategic location that makes importing and exporting goods faster, easier, and cheaper – together with advanced infrastructure.
These advantages make Oman an ideal destination for investors seeking successful investment opportunities.
Advanced infrastructure is a core pillar of Oman Vision 2040. The Sultanate boasts strong infrastructure – some of it already completed, and more still being planned and developed – through ongoing investment in roads, ports, airports, and telecommunications, strengthening the country’s ability to attract international investment and grow its various business sectors.
Key advantages of investing in the Sultanate of Oman:
