The government of Oman has pledged to significantly invest in infrastructure in order to stimulate growth in the nation's non-oil GDP. A robust and reliable pipeline of investment possibilities in both current and new infrastructure asset classes is necessary due to the rising population and increasing demand for economic and social infrastructure. This is anticipated to encourage greater business and tourism, which will diversify and improve the economy, increase GDP, and lessen the long-term reliance on oil.
All growing economies, like Oman, depend heavily on investment to power their dynamic cores of structural change, development, and growth. The intensive investment programs over the past four decades have been able to move the modest oil proceeds to a developed social and economic infrastructure, which is necessary for guiding sustainable development. This is true despite the economic, political, and social conditions that prevailed at the Omani Renaissance in 1970.
The Sultanate actually possesses the infrastructure necessary to promote and facilitate both domestic and foreign ventures in Oman. Its geographic position, which looks out over both regional and international sea lanes, as well as the presence of Omani ports, opens up new possibilities for investment and unrestricted trade.
Additionally, the Sultanate is distinguished by its robust infrastructure, stable economy, and skilled workforce, all of which ensure that investing in Oman is simple. Not to mention the rules put in place to promote foreign investment and support this open economic approach, which are being supported by the Sultanate's participation in international organisations, international trading organizations, and a free trade agreement with the USA. Oman attempts to entice foreign ventures through a variety of incentives, including the following (in Arabic only):
• The costs of the services
• Five years of tax exemption, with the potential for a longer period under specific circumstance
• Individuals pay no income tax
• Freedom to move money around, including the ability to swap currencies at a set exchange rate
Project Central 7
Central 7 is the first stop for anyone looking for the ideal workplace, whether they are from multinational corporations, local corporate headquarters, unicorn corporate headquarters, businessmen corporate headquarters, financial and banking sectors, technical and entrepreneurial corporations, or investment and holding corporations.
The modern structure was built with the newest technologies to save energy while maintaining a comfortable and cool interior climate. This way, it can both serve its customers and protect the environment.
Why should I make an investment in Oman's Sultanate?
• Economic and political stability
• Transferable local currency that is stable
• Budgets and perks may be freely moved and transferred without limitations
• No individual income tax
• Low customs taxes on a large number of imported goods
• Free Trade pacts with different commercial blocs and individual countries
• Open trade and market principles.
• The best geographic location for gaining access to the markets in the Gulf, Asia, and Africa
• A member of the World Trade Organization is Oman (WTO).
• A firm commitment to privatizing public facilities and tight collaboration between the public and commercial sectors
• Tax exemptions that are appropriate and may last up to ten years
• Specialized legislation to safeguard foreign investment rights
• Simple loans with reasonable benefits and flexible repayment schedules
• Safety, security, and stability
• Justice and trustworthiness
• Systems of the present with simplified processes
Final Thoughts
Oman has been liberalizing its economy, expanding into new markets, and moving away from its reliance on oil. For instance, a significant copper project is currently underway. Oman has about 4 million inhabitants, which is less than Germany or the US, but the majority of them live in Muscat, the capital, and the wealthiest among them all have similar characteristics.
Many buyers are clamoring for western items and a faster way to make purchases. For frontier and emerging entrepreneurs that want to be big fish in little ponds and use straightforward methods already functioning in more developed economies with comparable levels of wealth, untapped markets like Oman present an intriguing possibility.
For more information, please contact us.
