Oman Launches New Investment Portal

Oman Launches New Investment Portal

Date: 25/11/2019

Muscat – Ithraa, Oman’s investment promotion and export development agency, unveiled “Invest in Oman” Portal on Monday at a ceremony held at the Implementation Support & Follow-up Unit (ISFU) in Muscat.

The first and only investment platform dedicated to driving and facilitating foreign investment into the Sultanate, “Invest in Oman” has been designed specifically to enable local companies and entrepreneurs showcase their projects and connect them with investors worldwide. For potential international investors, the portal provides a wealth of information and guidance including details on the Sultanate’s pro-business environment, industry trends, workforce, intellectual capital, incentives, tax and available land. Importantly, it also provides guidance on the steps involved in investing in and setting up operations in Oman.

Speaking at the launch event, Mr. Azzan Al Busaidi, CEO, Ithraa, stated that “Invest in Oman” had been developed in response to growing demand for investment in large, as well as early stage Omani businesses and would present world-class investment opportunities, featuring high-growth companies in the Sultanate on a global scale.

Eng. Ibrahim Saeed Al Mamari, CEO of Invest Services Centre, said: “This initiative is a great milestone in the business environment in Oman. “Invest in Oman” and “Invest Easy” platforms are going to play a major rule in attracting more investments and supporting the national economy. By launching this platform, business opportunities in Oman will be easily realized by the local and overseas investors through a single window. Moreover, Investment Services Centre and Ithraa will be jointly working to keep this platform improved.”

Highlighting some of the key reasons driving the interest of the international investment community to Oman, Ithraa CEO noted that the World Bank, ranks Oman as one of the most cost-effective countries in the region for doing business in terms of the combined impact of significant business cost components including labor, utilities, facilities, transportation, financing and taxes.

Mr. Azzan Al Busaidi added: “On top of this, Oman is the ideal location for reaching the growing and emerging markets of the Middle East, Africa and Asia. By 2025 one billion people will enter the global consuming class and around 600 million of them will live in emerging markets on our doorstep. Companies that understand and respond to these shifting dynamics will experience tremendous benefits.”

Dr. Dhafir Awadh Al Shanfari, CEO of The Public Authority for Privatisation and Partnership, stated: “Invest in Oman is set to be the meeting place for project promoters and investors. Ithraa greatly looks forward to the impact it will have on our investment landscape and the benefits this will bring to the Sultanate’s business community as they take their ambitions forward.”

The portal allows investors to self-certify, browse live investment opportunities, open dialogue with business founders, perform due diligence and establish working relationships with Oman-based businesses and investors.

Ithraa coordinates with the related entities to participate in the various initiatives that aim to promote investment in the Sultanate. With regards to enhancing the business environment, Ithraa coordinates with ISFU. This platform is one of the initiatives that ISFU follows up and supports its implementation through the dashboard of business environment sector.