UK Leads, US and UAE Follow as Top Foreign Investors in Oman in 2024

According to a newly released report, Oman successfully attracted RO3.715bn (approximately $9.6bn) in foreign direct investment (FDI) during the first nine months of 2024.

These investments, primarily concentrated in the oil and gas and manufacturing sectors, highlight Oman’s increasing appeal to international investors and its growing position as a stable destination for global capital.

FDI Performance and Growth

• Total FDI Stock: Reached RO26.677bn (around $69bn) by the end of September 2024, reflecting a 16.2% year-on-year increase compared to RO22.961bn (approximately $59.4bn) in the same period last year.
• FDI Inflows (January–September 2024): Totalled RO3.715bn (around $9.6bn), lower than the RO4.821bn (approximately $12.8bn) recorded during the same period in 2023.

Indicator	Amount (RO)	Approximate (USD)	Year-on-Year Change
Total FDI	26.677 billion	$69 billion	16.2% increase
FDI Inflows (2024)	3.715 billion	$9.6 billion	Decline from 2023

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Sectoral Distribution of FDI

1. Oil and Gas:
   • Share of total FDI: 79.1% (RO21.112bn, around $54.6bn).
   • New investments: RO3.439bn (around $8.9bn).
2. Manufacturing:
   • Share of total FDI: 8% (RO2.137bn, approximately $5.5bn).
   • New investments: RO730.3mn (around $1.89bn).
3. Financial Brokerage:
   • Share of total FDI: 5.1% (RO1.364bn, around $3.5bn).
4. Real Estate and Rental Activities:
   • Share of total FDI: 3.6% (RO969.1mn, approximately $2.5bn).

Sector	Amount (RO)	% of Total	Approximate (USD)
Oil and Gas	21.112 billion	79.1%	$54.6 billion
Manufacturing	2.137 billion	8%	$5.5 billion
Financial Brokerage	1.364 billion	5.1%	$3.5 billion
Real Estate and Rental	969.1 million	3.6%	$2.5 billion
Transport and Communications	379.5 million	1.4%	$1 billion
Electricity and Water	323.2 million	1.2%	$0.84 billion
Trade	214.9 million	0.8%	$0.56 billion
Hotels and Restaurants	107.9 million	0.4%	$0.28 billion
Construction	13 million	0.05%	$33.8 million
Other Activities	56.6 million	0.2%	$147 million

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Top Foreign Investors

1. United Kingdom:
   • Largest investor, holding 51.2% of total FDI stock (RO13.665bn, around $35.1bn).
2. United States:
   • Investments: RO5.253bn (approximately $13.5bn).
3. United Arab Emirates and Kuwait:
   • UAE: RO836.5mn (around $2.15bn).
   • Kuwait: RO833.5mn (around $2.14bn).
4. Other Significant Investors:
   • China: RO817.8mn (around $2.1bn).
   • Switzerland: RO551.9mn (around $1.42bn).
   • Qatar: RO488.3mn (around $1.25bn).

Country	FDI Amount (RO)	% of Total	Approximate (USD)
United Kingdom	13.665 billion	51.2%	$35.1 billion
United States	5.253 billion	19.7%	$13.5 billion
UAE	836.5 million	3.1%	$2.15 billion
Kuwait	833.5 million	3.1%	$2.14 billion
China	817.8 million	3%	$2.1 billion
Switzerland	551.9 million	2.1%	$1.42 billion
Qatar	488.3 million	1.8%	$1.25 billion
Bahrain	375.7 million	1.4%	$0.98 billion
Other Countries	3.2 billion	12%	$8.2 billion

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Conclusion

Oman’s ability to attract and sustain FDI highlights its growing competitiveness and appeal on the global stage. Investments in oil and gas and manufacturing sectors continue to dominate, while emerging opportunities in real estate, transportation, and financial services pave the way for diversified growth.