Foreigners invested nearly $12.5 billion into various sectors in Oman in one year following the introduction of incentives for foreign capital under the economic diversification scheme, the official news agency ONA has reported.

The agency quoted a report by the trade and industry ministry on Sunday showing foreign direct investment (FDI) in Oman totalled around 25 billion riyals ($65 billion) at the end of March 2023.

The report showed an increase of nearly 4.8 billion riyals ($12.5 billion) in investment over the same period of 2022.

Investment in the non-oil industrial sector stood at around 1.4 billion riyals ($3.64 billion), according to the report.

(Writing by Nadim Kawach; Editing by Bhaskar Raj)


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