1

Sultanate of Oman

INVESTOR
GUIDE

www.tejarah.gov.om

Version #1 June 2021

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Values
Ministry of
Commerce, • Agility
• Proactive Approach

Industry & • Team Spirit

Investment
• Commitment
• Credibility

Promotion • Service Excellence

• Creativity & Innovation

The Ministry of Commerce, Industry &

Investment Promotion (Tejarah) is committed Vision
Mission
to promoting the business benefits of Oman
Globally recognized as a
to a global audience. We are a team of
competitive, diversified
seasoned and knowledgeable investment
and resilient economy Working with our partners, we provide quality
and export professionals with worldwide
that empowers a thriving digital services as well as an enabling legislative
contacts. Our experience, expertise and
business community. and policy framework that attracts investment,
global reach helps companies of all sizes
increases trade and strengthens industry in order
realize their potential.
to enhance a knowledge-driven competitive
economy and sustainable growth.
 Contents

Section 1 Section 3

Our Services Investment Support

■ Investor Support ■ Invest In Oman Portal

■ Business of All Sizes ■ Invest Easy Portal

■ Online Commercial Registration ■ E-serviecs

Section 2 Section 4

Invest in Oman Investment Infrastructure

■ Oman at Glance ■ Freezone & Industries Estates

■ Why Oman? ■ Airports

■ Key Sectors ■ Ports

Manufacturing
■ Appendix I: Trade Agreements
Logistics
■ Appendix II: Legislation
Fisheries
■ Appendix III: Corporate Structure
Mining
■ Appendix IV: Public Sector Organizations
Education
■ Appendix V: Banks
Healthcare

Information Communication
Technology

Circular Economy
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Investor Support
We are proud to offer an extensive, free and confidential
package of assistance to help identify the full range of
hard and soft benefits of choosing Oman as an investment
destination and business location. We also guide Omani
companies explore opportunities in international export
markets.

Whether you are looking to invest and set-up in the Sultanate

or are an existing Omani business seeking advice on export
markets, team Tejarah will work with you to ensure your
individual business requirements are met and connect you to
Oman’s array of public sector resources.

While this service is based on company-specific need, research

and experience has shown us competitive and successful
companies have the following common requirements:

■ Skilled employees
■ Strategically-located commercial or industrial
realestate.
■ Superior innovation capability
■ Competitive advantage in getting to market
■ Financial investment

Team Tejarah will give you access to every possible resource

to maximize your competitiveness.

How does it Work?

Your company is assigned an Investment Relationship
Manager who will have an in-depth conversation
with you about your company’s ambitions and the
MARKETING FINANCE INNOVATION
challenges you face. All discussions are in strict
confidence.
Links to MoCIIP’s international Access to institutional Links to industry R&D
representatives and export and private investors and centres, university R&D and
With a clear understanding of your needs, our team
marketing programs. government funds. technical institutions.
can marshal all public and private sector resources
into a bespoke support package.
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Business
of All
Sizes
Team Tejarah supports multinationals through to SMEs.
and with aclear understanding of your needs, we can
marshall public and priviate sector resources into a bespoke
support package that includes:

Networks
■ Identifiying of suitable opportunities to add value
to your business by engaging with domestic and
international investors, government departments,
industry bodies, professional intermediaries, universities
and strategic partners.
■ Introductions to businesses and organizations to help
you make the right contacts.
■ Advice on collaboration possibilities with companies,
government, research centres and universities.

■ Identifiying of potential sources of financial support

including loans and institutional investors with the aim
of assisting you in your business development.
■ Liaising with professional intermediaries and partners
to offer additional services including legal, banking,
accounting, recruitment, ICT and marketing.

Premises, Planning & Permits

Working in tandem with a range of public and private sector partners,
Tejarah helps investors with locating premises as well as advising on all
relevant building, industrial and environmental permits.
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We can register and issue commercial registrations to

international companies investing in Oman through the
Invest Easy portal – an online process that can be completed
in a matter of minutes.

Trade Shows
We help Omani companies participate at major international
trade shows in the Gulf, US, Asia, Africa and Europe.

Exports
As you look to expand into international markets, Tejarah’s
team of export experts can help you
■ Assess opportunities
■ Develop an export plan
■ Identify buyers and markets

We encourage Omani exporters to take

advantage of the Oman-US Free Trade
Agreement (FTA), which saw the Sultanate’s
exports to the US reach US$1.2bn in 2019.

We can also

Provide market intelligence

Set-up B2B meetings
Connect you with our international representatives
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MUSANDAM Oman At A Glance

Population Geography
Suhar Port
SUHAR 4.2mn Area: 309,501 km²
Suhar Airport Working population: 2.2mn Located between latitudes 16°40’ and
26° 20’ north and longitudes 21.4735° N,
Suhar Industrial City Median age: 25
55.9754° E, Coastline: 3,165 kilometres
Suhar Freezone Muscat - capital city

MUSCAT
Rusail Industrial City
Education
62 higher education institutes
Working Week
124,000+ students enrolled in higher education
27,000+ graduates annually Government sector: Sunday to Thursday
Private sector: Saturday to Thursday

Languages
Sultanate of Oman Arabic: official language Connectivity
English, Hindu, Urdu and Swahili widely Less than three hours flight from over a third of
spoken
the world’s population
Connected by direct flights to cities in the Gulf,
Africa, Asia, Europe and North America
Shipping times on average 30 to 40% lower than
competing locations. 15 days to New York, 12 to

DUQM Telecommunications the UK and 8 to Singapore.

16 5G network Currency
Ports
Port of Salalah
Port Suhar telecom service providers for fixed Home Broadband
Port of Duqm launched December 2019. Omani Rial
Port Suwaiq 5G for mobile services came into 1,000 baisas = RO1
Port Shinas service February 2021.
Port Sultan Qaboos 1US$ = 0.386 baisas (fixed)
Port of Khasab
Airports
95.2% 6.2mn RO1 = US$2.6
Muscat International Airport internet penetration mobile subscribers
Salalah International Airport
Suhar Airport
Duqm Airport
Industrial Estates, Free Zones &
Special Economic Zones
Over 95% Cutting-edge
Rusail Industrial Estates of Oman’s population has ecosystem of cloud services.
SALALAH Special Economic Zone at Duqm access to 4G
Suhar Freezone
Suhar Industrial City
Salalah Free Zone
Al Mazunah Free Zone
Khazaen Economic City
AL Buraimi Industrial City
Nizwa Industrial City
Sur Industrial City
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Why Oman?
Oman is at the nexus of east-west trade routes, connecting markets in
Europe, Asia, North America and Africa. 1 2
Diversification Trade Agreements
In an effort to diversify Oman’s economy, the Signatory to WTO, GCC common market, GAFTA,
government is focused on developing manufacturing, FTAs with USA, Singapore, Iceland, Norway,
logistics, mining, tourism, fisheries, education, Switzerland and Lichtenstein.
healthcare and ICT as well as encouraging public-
private partnerships.

3 4
Foreign Ownership Custom Exemptions
100% foreign ownership available nationwide. Custom exemptions on the import of plant machinery
and raw materials for five years from commencement
of production.

5 6
Transparent Legal System Capital & Profit Repatriation
Investor-friendly legislative environment. There are no restrictions on capital, profit repatriation,
currency exchange or dividend transfers.

7 8
Political & Economic Stability International Success
We are proud of Oman’s legal transparency, economic We are passionate about helping Oman’s private sector,
stability and political tranquility. companies of all sizes, capitalise on economic growth
wherever in the world it is taking place. To this end, we
support Omani businesses to ensure they can compete
in an increasingly challenging global marketplace.
This strategy is working. In fact, Omani products and
services are enjoying tremendous international success
and can be found in 130+ countries.
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Oman’s ambitious economy is guided by Oman Vision 2040, a strategy

that prioritizes a diversified, dynamic and globalized economy with

advanced human resource development, an efficient and competitive

private sector and growth powered by non-hydrocarbons.

A SOCIETY OF CREATIVE INDIVIDUALS RESPONSIBLE STATE AGENCIES

Did You Know?
Proud of their identity, innovative, globally Comprehensive governance, effective oversight, swift
competitive, leading a decent life and enjoying justice system and efficient performance.
sustained well-being. ■ Oman’s trade surplus stood at US$6.9bn at
the end of September 2020 compared to
US$39.3b in 2019.
■ Oman exports to 130+ countries.
■ According to UNCTAD’s 2019 World
Investment report FDI inflows into Oman
reached US$4.1bn in 2018, up from US$2.9bn
COMPETITIVE ECONOMY AN ENVIRONMENT WITH SUSTAINABLE in 2017.
Productive and diversified, based on innovation, COMPONENTS ■ Total direct investment (FDI stock) remains
integration of roles and equal opportunities, driven A safe and well-preserved environment, with effective strong at US$28.2bn, approximately 36.9%
by the private sector, achieving comprehensive and and balanced ecosystems and renewable resources. of GDP.
sustainable development.
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Cost of Doing Business

It pays to do business in Oman. According to the World Bank,
the Sultanate is ranked as one of the most cost-effective
countries in the Middle East for doing business in terms
of the combined impact of significant cost components
including labour, utilities, facilities, transportation, financing
costs and taxes.

Did You Know?

■ 15% corporate tax
■ 5% VAT
■ Regionally competitive wage and business costs
■ Attractive utility rates
Strategic Location
■ Annual manufacturing space on Madayn’s industrial
estates is available from US$2.50 to US$5 per m2 By 2025 one billion people will enter the global consuming
■ Monthly office space on Knowledge Oasis Muscat is class and around 600mn of them will live in emerging
available from US$15 to US$18 per m 2 markets on Oman’s doorstep. Strategically placed Oman has
the business base, track record, infrastructure, experience,
talent, leadership and global connectivity to help any
business take its ambitions forward.

Seamless Connectivity
Maximizing the potential of Oman’s strategic location is our
first class infrastructure.
■ Five modern airports.
■ Roads ranked amongst the best in the world.
■ Four world-class sea ports.
■ Growing coastal ferry and shipping services.

Did You Know?

■ Oman’s various free trade agreements give
businesses access to over 500mn consumers
■ 88% of the next one billion people to enter the
middle class globally will be Asians.
■ The size of the Asian middle class is expected to
reach nearly 3.5bn, or 65% of the world’s total, by
2030. Up from 1.4bn in 2015.
■ Africa’s middle class household consumption is
predicted to reach US$2.5tr by 2030.
■ All these consumers are on Oman’s doorstep.
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Pro-Business Environment Framework for Success

Providing a framework that supports successful investment and business in Oman are our world-class
■ Stable and legally transparent, Oman is low on bureaucracy and tax and big on ambition and
industrial estates, free zones, special economic zones and technology parks – all future-ready and thriving
enterprise. Investors can set up quickly and with minimum red tape while our legislative framework
hubs of commerce and industry.
makes operating here straightforward and hassle free. There is high-quality, affordable work and
office space in every part of the country with competitive operating costs that set businesses based in
Oman has an abundance of intellectual capital. Our 62 higher education institutes have a track record
the Sultanate up for success.
of working with industry to deliver innovation across major sectors including manufacturing, fisheries,
■ 100% foreign owned business quick and straightforward to set up .
tourism, logistics, mining, healthcare, petrochemicals, education and ICT.
■ No foreign exchange controls.
■ No personal income tax.
■ Legal transparency.
■ English universally spoken and widely used.
■ Stable and tranquil.
■ Open, friendly and innovative with a global outlook.

Did You Know?

■ Oman has 11 industrial estates.
■ 4 free zones.
■ 2 technology parks.
■ An Industrial Innovation Centre.
■ A word-class Convention & Exhibition Centre.
■ Nationwide fibre optic connectivity.
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Top Talent
One of the main reasons investors choose Oman is our outstanding talent pool - made up of skilled multilingual
individuals who are innovative and entrepreneurial, And ensuring Oman has a qualified, capable and productive
workforce equipped with the in-demand skills needed by our ambitious companies as they power forward in domestic
and international markets is the National Training Fund.

Did You Know?

■ Oman boasts well-trained, ambitious, entrepreneurial, multilingual talent.
Companies in the Sultanate
■ 124,000+ students enrolled in higher education. also benefit from the
■ Oman graduates approximately 27,000 university, technical and vocational contributions of talent from
students annually. across the world, attracted
■ In 2018-19 there was a 20.3% increase in the number of Omanis enrolled by sound career prospects,
in higher education. business opportunities and
■ 80% of Oman’s new public sector employees hold university degrees. Oman’s enviable lifestyle.
■ 25% of Oman’s working population is under 30 years of age.

Lifestyle
Oman is an outstanding place to set up home, raise a
family, grow your business and develop your career. It offers
accommodation options to suit any and every requirement,
great schools and top quality healthcare. On top of that,
it has first class recreational facilities and entertainment
options, not to mention a stunning natural environment.

■ Safe, tranquil and welcoming

■ Politically stable
■ First class schools, colleges and universities
■ Excellent healthcare
■ Outstanding real estate options
■ Rich in heritage and culture Natural Resources
■ Exceptional natural beauty
Oman’s natural resources – oil, natural gas, minerals,
■ Diverse sport and leisure options
metals, fish and more provide manufacturers with
■ Five UNESCO World Heritage sites
a ready supply of raw materials. For those that need
to be brought into the country, our strategic location
and logistics network ensure reliable supply and, as
import duties are not levied on production inputs and
machinery, costs are kept low.
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Key Sectors
Oman has a fast-diversifying economy with local-to-global
Manufacturing Logistics
growth prospects.

Agriculture & Mining

Fisheries

Education Healthcare

Information Circular Economy

Communication
Technology

Tourism
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Mining
Looking Ahead

■ Large-scale copper mining is set to start in Oman with ■ It is estimated that the mining sector will contribute
the Al Hadeetha Resources project at Washihi-Mazzaza, US$779mn to GDP by 2030.
which targets sales of 16mn MT per annum of copper
■ Rise in mineral-based manufacturing.
ore and the eventual construction of a 1mn MT per an-
num copper concentration plant with an initial 10-year ■ Increasing productivity and safety via autonomous
mine life. haulage systems.

■ Mining production of 26mn MT in 2018 is set to rise to ■ Greater use of 3D modeling, AI and drones at the
147mn MT by 2023. prospecting and exploration stage.

■ More targeted and efficient mining through automation

and digitalization.

Snapshot

■ Safeguarding Oman’s mineral wealth a new Mineral Resources Law has been put in place.

■ In 2018, Oman’s mining activities contributed a total of US$444.1mn to GDP, up from US$382.8mn in 2017,
maintaining a pattern of growth seen over recent years.

■ 50,000 people were employed in Oman’s mining and quarrying sector in 2019.

■ 110 mining areas have been identified across the Sultanate.

■ In terms of non-metallic minerals, Oman is abundant in dolomite, limestone, gypsum, clay, silica, ornamental
stones and building materials, resources which are spread across the Sultanate.

■ The main copper reserves, with an estimated exploration resource of around 54.5m MT, are located in the Suhar
area of the Al Batinah region. Gold, gabbro and limestone are also found in this area. In addition to limestone,
Dhofar is best known for gypsum, with total reserves estimated at 170mn MT. Duqm, meanwhile, in central
Oman, holds reserves of industrial minerals and salt.
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Education
Snapshot

■ In 1970, Oman had three formal schools with 900 students. Today, the Sultanate’s general education sector includes
2,046 schools with over 840,000 students, employing 71,469 teachers.

■ Oman has 62 higher education institutes; including 19 private colleges, a state university and 9 private universities.

■ Oman has enjoyed significant success with vocational training projects - including the International College for
Engineering & Management, Oman Tourism College, International Maritime College of Oman and the National
Hospitality Institute, all serving the Sultanate’s business community directly.

■ In a world of ever-accelerating competition, change and opportunity, Oman’s educational system is focusing on
the goal of creating a culture of lifelong learning, the National Training Fund and the National CEO Program being
outstanding examples of this.

Looking Ahead

■ Education, will become an important driver of Oman’s

GDP growth with its current share of 4.9% projected
to climb to 6.2% by the end of 10th Five Year Plan
(2021-2025).

■ Growth in career-long reskilling of workers in response

to the 4th Industrial Revolution, automation and
digitization of the workplace.

■ Increased public – private sector co-operation to drive

digital skills.

■ Use of AI, machine-learning technologies, tutoring

apps and video-assisted remote learning.

■ Greater demand for hyper-personalized, blended and

experiential learning.

■ Deployment of virtual reality tools to enable

experiential, scenario-based learning and workplace
training.

■ Growth in the private provision of tertiary education

and lifelong training.

■ Greater emphasis on vocational training, internships

and work-based learning.