Oman’s foreign direct investment hits a31 billion

Sunday, June 14, 2026

Oman attracted around 31 billion Omani Rials in foreign direct investment, driven by a rise in industrial sector investments and the success of the 'Invest in Oman' initiative. Key projects like the polysilicon production facility in Sohar are expected to enhance Oman’s export capabilities and contribute over RO 1 billion annually to its trade balance.

Oman has seen a significant rise in foreign direct investment (FDI), with total inflows reaching approximately 31 billion Omani Rials (RO), reflecting the effectiveness of the country’s integrated system for capital attraction and economic diversification. Ibtisam bint Ahmed al Farooji, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, detailed the progress during a recent update on the Sultanate’s investment promotion efforts.

Al Farooji highlighted the industrial sector as a key driver in Oman’s economic diversification strategy, noting its share of investment has increased from 6 percent to 9.5 percent. She described the sector as a cornerstone for enhancing the resilience of the national economy against global shocks, while capitalizing on Oman’s strategic location and its network of free trade agreements.

The government’s ‘Invest in Oman’ initiative has played a pivotal role in addressing investment challenges and advancing the localisation of major strategic projects. Since its inception, the initiative has received 96 investment applications, of which 44 projects have moved into the implementation phase. Among these are 36 new projects targeting the local market. Additionally, the initiative succeeded in revitalizing seven previously stalled strategic projects.

A notable development is the polysilicon production project located in the Sohar Free Zone, which is expected to bolster Oman’s position as the world’s second-largest exporter of this critical material used in solar panel manufacturing. This project has attracted several complementary investments along the supply chain, including a solar panel manufacturing facility led by GE Solar in Suhar. Together, these projects are forecasted to contribute at least RO 1 billion annually to Oman's trade balance and export revenues.

The government’s coordinated efforts through integrated partnerships across various strategic sectors have advanced Oman’s ambitions of sustainable economic growth underpinned by increased foreign investment and industrial diversification.