The volume of foreign direct investments (FDI) in Oman has demonstrated a notable increase, recording a growth of 23.3 percent by the end of the first quarter of this year. The total FDI volume reached OMR 21.270 billion, with a financial flow estimated at OMR 4.20 billion. This growth is in comparison to an FDI volume of OMR 17.250 billion during the same period in 2022.
Data released by the National Centre for Statistics and Information reveals that the oil and gas extraction sector emerged as the largest recipient of foreign direct investment during the first quarter of 2023. This sector attracted an FDI amount of OMR 15.835 billion, surpassing the previous year's figure of OMR 11.697 billion. Manufacturing industries followed with an FDI value of OMR 1.571 billion, experiencing a slight decrease from OMR 1.671 billion in 2022. The financial brokerage activity also witnessed an increase, reaching OMR 1.514 billion, compared to OMR 1.460 billion in the prior period.
In the realm of real estate, foreign direct investment exhibited a decline, with the value decreasing to OMR 1.44 billion at the end of the first quarter of 2023 from OMR 1.48 billion in the same period of 2022. Similarly, FDI in other activities experienced a reduction to OMR 1.338 billion compared to OMR 1.373 billion in 2022.
The United Kingdom emerged as the leader in foreign direct investments in Oman, contributing a value of OMR 10.352 billion. Following closely, the United States registered OMR 3.508 billion, while China recorded an FDI value of OMR 1.231 billion.
Foreign investments from other countries also played a significant role in Oman's FDI landscape. Notably, investments from the United Arab Emirates amounted to OMR 934.900 million, Kuwait contributed OMR 3.778 million, the State of Qatar invested OMR 431.200 million, and the Kingdom of Bahrain and the Republic of India contributed OMR 375.100 million and OMR 296.4 million respectively. The Netherlands and Switzerland also made notable contributions, with investments valued at OMR 291.500 million and OMR 181.900 million respectively. The collective value of direct foreign investments from other countries reached OMR 2.893 billion.
This surge in foreign direct investments signals positive economic developments and highlights Oman's attractiveness to international investors. The country's continued efforts to foster an inviting investment environment have shown promising outcomes, contributing to its economic growth and development.
