Oman has recently joined the World Association of Investment Promotion Agencies (WAIPA) to enhance its global economic presence by attracting foreign direct investment (FDI) across key economic sectors. WAIPA headquartered in Geneva, Switzerland, brings together investment promotion agencies from around the world to facilitate collaboration, knowledge sharing, and policy alignment to foster sustainable investment and economic development. Oman aims to leverage this partnership to access global resources, expertise, and network to enhance its investment promotion strategies and attract high-value projects.
Invest OMAN, the government’s arm for foreign investments, plays a crucial role in creating an investor-friendly environment with streamlined processes, modern infrastructure, and a stable regulatory framework that promotes long-term growth. Her Excellency Ibtisam Al Farouji, Undersecretary for Investment Promotion at the Ministry of Commerce, Industry, and Investment Promotion, highlighted Oman’s proactive engagement with the global investment community through WAIPA. The strategic partnership positions Oman to drive strategic efforts to connect with international investors and create opportunities that align with Oman’s economic diversification goals and Vision 2040 aspirations.
Oman’s membership in WAIPA comes at a time when the country is focused on diversifying its economy and positioning itself as a leading regional hub for trade and investment. By working closely with other member agencies within the WAIPA network, Oman aims to exchange best practices, explore collaborative opportunities, and attract impactful investments that support sustainable economic development and foster long-term partnerships. The Investment Promotion sector at the Ministry of Commerce, Industry, and Investment Promotion plays a key role in attracting major foreign investments in strategic sectors and enhancing the business environment to align with Oman Vision 2040 priorities.
The sector promotes Oman’s investment opportunities globally through proactive campaigns, exhibitions, and international outreach efforts. Invest OMAN serves as a one-stop destination platform that brings together representatives from 22 public and private entities to streamline approvals and licensing processes essential for setting up investments and businesses. By leveraging Oman’s opportunity map through this integrated approach, investment opportunities are swiftly converted into sustainable projects, driving economic growth and long-term development. Oman’s participation in WAIPA signifies its ambition to engage proactively with the global investment community and pursue opportunities that align with its economic diversification goals and Vision 2040 aspirations.
