Oman has been ranked 21st globally in the prestigious list of the World’s Best Countries to Invest In or Do Business for 2024, according to a new report. This recognition highlights Oman’s efforts to create a business-friendly environment and establish the country as a prime destination for international investment. Oman’s commitment to Oman Vision 2040, which aims to diversify the economy, reduce reliance on oil revenues, and foster innovation, has played a key role in its impressive standing on the global stage. The Ministry of Commerce, Industry, and Investment Promotion has been driving reforms to enhance economic growth, support the private sector, and boost investor confidence.
Through Invest Oman, the government’s dedicated arm for large-scale investments, Oman is focused on streamlining the investor journey and offering a range of services to guide investors from inquiry to project realization. The country’s economic stability score of 92.12, along with high ratings for government policies (92.36) and skilled labor force (92.75), have contributed to its attractiveness for foreign investment and entrepreneurship. Oman’s institutional framework rating of 92.34 further solidifies its position as an ideal investment destination.
Oman’s infrastructure development, including free zones and special economic zones like Duqm and Sohar, has helped attract foreign direct investment and strengthen trade ties across the region. The government’s efforts to form free trade agreements with key markets in Asia and Europe have opened up new opportunities for bilateral trade and investment, positioning Oman as a vital gateway to international markets in the Gulf and beyond.
Oman’s proactive approach to digital transformation is also contributing to its recognition as a top global investment destination. The government is focusing on enhancing technological readiness, supporting tech-driven businesses, and establishing innovation hubs to align with global trends towards economic diversification and sustainability. As Oman continues to rise in global rankings, its ability to adapt to evolving economic dynamics and provide innovative investment solutions will be crucial in maintaining and expanding its appeal to international investors.
