The industrial sector in Dhofar Governorate is experiencing significant growth, with a 63 percent increase in industrial license applications during the first half of 2024 compared to the same period in 2023. This data was released by the Ministry of Commerce, Industry, and Investment Promotion, which also reported a 34.9 percent increase in the issuance of certificates of origin in the governorate during the same period. Additionally, commercial registrations in Dhofar increased to around 2,560 in the first half of 2024, bringing the total number of registrations in the governorate to 73,520 by the end of the period.
The number of foreign investment registrations in Dhofar saw a decrease, with 253 registrations in the first half of 2024 compared to 744 in the same period in 2023. However, the total number of registrations in the governorate reached 11,480. The active licenses in Dhofar Governorate totaled approximately 127,399 by the end of the first half of 2024. Mohammed bin Khalifa Al-Badhrani, Director General of the Directorate General of Commerce, Industry, and Investment Promotion in Dhofar, attributed the increase in industrial license applications to the investment-friendly environment, facilities, and incentives offered to investors in the region.
The Ministry of Commerce, Industry, and Investment Promotion, along with relevant authorities, has implemented smart applications to streamline investment procedures and facilitate business growth in Dhofar Governorate. The top licensed commercial activities in the region include construction and contracting, export and import offices, restaurants and cafes, vehicle mechanics, and retail clothing stores. The directorate is actively working to enhance the investment climate in the governorate, empowering the private sector to attract foreign investments and highlighting key investment opportunities.
Investment opportunities in Dhofar Governorate are diverse, ranging from sodium silicate manufacturing projects to steel plants and dolomite calcination units in the mining industry. Other opportunities include fibreglass boat manufacturing, cement paper bag production, and the manufacturing of formations used in water and soft drink packaging. The agricultural sector in Dhofar thrives during the Khareef season, bolstered by seasonal rains that enhance food security and contribute positively to the local economy.
The Khareef season serves as a significant investment stimulus, driving growth in commercial activities in Dhofar Governorate. Tourists and residents flock to the region during this time, stimulating sales and business activities in the retail sector and supporting small and medium enterprises (SMEs) as well as artisanal industries. Dhofar’s exceptional advantages in the logistics sector, particularly with the presence of Salalah Port and the free zone, have attracted numerous economic projects, with 127 usufruct agreements signed totaling an accumulated investment volume of OMR4.5 billion.
Al-Badhrani highlighted the incentives offered by Dhofar Governorate to attract investments, including a 30-year income tax exemption, customs exemptions, full foreign ownership rights for investment projects, and other advantages that make the region a preferred investment destination. With its thriving industrial sector, diverse investment opportunities, and strategic location, Dhofar Governorate continues to be a key player in Oman’s economic growth and development.
