Over the past five decades, the Sultanate of Oman has witnessed significant economic developments, including modernising its legislative frameworks and expanding its logistical infrastructure, such as ports, roads, airports and industrial zones. This is in addition to launching electronic platforms and facilitating investment procedures. Now everyone is looking forward to have business in the Sultanate of Oman in the coming period, within the framework of global competition.

The country's business environment, as described by international institutions, is supported by a strong legal framework aimed at regulating economic activities and further encouraging investment. It also features facilities for investors, including incentives and opportunities in well-known economic sectors.

Today, Oman boasts an attractive investment environment, in addition to its important geographical location at the crossroads of global trade routes. This gives it the opportunity to open up markets for exporting national products and deliver them to emerging markets via vital transport corridors.

The country's business environment is also characterised by political stability and operates within the framework of the Oman Vision 2040 and its objectives. Such collaboration seeks to enhance the investment climate, diversify the economy and open up greater prospects for exploiting the country's natural resources due to the need for them.

The World Bank's "Doing Business 2020" report indicates that Oman has recently climbed 10 places in business, currently ranking 68th globally. By offering business incentives, eliminating bureaucracy and streamlining laws and business processes, this will inevitably lead to a higher ranking in business.

Oman's economic and business environment is described as the most politically and economically stable in the region. It enhances confidence in this environment to attract investment and move forward in reducing dependence on oil as the primary source of income, in addition to diversifying the economy, creates new job opportunities for business seekers in investment sectors such as tourism, logistics, agriculture, industry and others.

The government is also continuing to implement economic reforms within the framework of the Oman Vision 2040 to improve the business climate, facilitate procedures and encourage entrepreneurship.

The recent Foreign Capital Investment Law, issued by Royal Decree No 50/2019, allows 100% foreign ownership in most sectors and abolishes the minimum capital requirement, removing a major obstacle to investor entry. Laws on public-private partnerships and privatisation have also been issued to encourage private sector investment in major projects.

Furthermore, the government is taking steps to reduce fees and offer tax exemptions and special incentives in economic zones, which contribute to reducing the cost of starting projects and enhancing the economic attractiveness of foreign investors.

The government platforms provide comprehensive business services by providing a single electronic window that brings together more than 50 government services for investors, facilitating the establishment of companies and obtaining licences online quickly and easily. All of these factors make Oman an attractive destination for foreign direct investment in the region.

Today, the Sultanate of Oman offers increasing opportunities, especially for entrepreneurs and small and medium enterprises (SMEs), which are the backbone of economies worldwide. Young people see many promising opportunities, particularly in the technology, digital services and e-commerce sectors.

Meanwhile, the government is committed to providing support through training programmes in these sectors, while encouraging institutions to increase their efficiency and connect them to the real job market.

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