Omani Centre for Investment Promotion & Export Development - OCIPED
Key Competitive Attractions
Invest in Oman
The economy of Oman is based primarily on oil and gas. However, a number of investments have been made to diversify the economy and to create knowledge based industries. Priority sectors include tourism, ICT, alternative energy, marine services, automotives, chemicals, pharmaceuticals, metals and plastics. GDP growth in 2011 has been estimated to 4.4%.
The technology park Knowledge Oasis Muscat is already home to several global IT companies such as Microsoft, Motorola and Oracle. Other significant investment projects include the Sohar Industrial Port and a logistics based industrial zone planned at Al Duqm.
The foreign capital investment law permits 70% foreign ownership in most sectors and 100% in certain cases. Corporate income tax varies according to the nature of investment but is generally low. In addition, exemptions are possible for a period up to 5 years and can be extended for another 5 years. There is no personal income tax.
The World Health Organization has ranked Oman as having one of the best health care systems in the world. The Sultanate has a Free Trade Agreement (FTA) with the United States. In addition, Oman is member of the GCC (Gulf Cooperation Council) Custom Union, the Indian Ocean Rim Group and the Arab Free Trade Zone.
Foreign Direct Investment in Oman grew by 190% from 2001 to 2007. Current international investors include Jotun, HSBC, Shell, Microsoft, Total, Vale, Rio Tinto, Port of Antwerp, Munich Airport, Aeroports de Paris, Octal, Ferrostaal and TRW.
More reasons to invest in Oman...
Assistance and Support For New Business Investors
The Omani Centre for Investment Promotion & Export Development provides market analysis and information on laws and procedures. For facilitation, a one stop shop has been established to coordinate business registration. Other services include matchmaking and advice on entry strategy.
More on Funding/Support.
