News

Oman’s 2025 budget balances social welfare and economic growth

Oman’s 2025 budget focuses on strategic balance, emphasising social welfare support while advancing fiscal responsibility. Most importantly, it demonstrates the government's commitment to reducing public debt costs by restructuring loans to more cost-effective terms, while also boosting economic resilience.

According to the Oman News Agency,...

14/01/25

Oman hosts business forum 2024 to forge global partnerships

Oman recently hosted The Asian Arab Business Forum 2024 at the College of Banking and Financial Studies (CBFS) in Muscat.

The event was set a significant milestone in strengthening economic ties between Asia, the Arab world and other regions. Organised by the Asian Arab Chamber of Commerce the event highlighted Oman’s strategic role as a global hub for fostering...

31/12/24

Oman’s Sustainable Yiti City infrastructure near completion

Oman’s flagship sustainable development, The Sustainable City – Yiti, is on track to become the region’s first net-zero emissions city by 2040.

With 96% of its infrastructure works completed, this eco-friendly community is progressing towards its goal of housing approximately 10,000 residents by 2026. The city aims to set a new benchmark for sustainable urban living,...

17/12/24

Oman’s economy grows amid reform progress: IMF

Oman’s economy is demonstrating steady growth, supported by significant reforms under Oman Vision 2040, according to the International Monetary Fund (IMF).

In its End-of-Mission report following the 2024 Article IV consultation in Muscat, the International Monetary Fund highlighted the country's successful progress in economic diversification,...

02/12/24

Omans Chamber Commerce signs MOUs to empower SMEs

Omans Chamber of Commerce and Industry (OCCI) recently signed three key memoranda of understanding (MOUs) in a strategic move to support the growth and sustainability of small and medium enterprises (SMES).

The agreements, made with Sharakah (Youth Projects Development Fund), Ooredoo Oman and Al Wadiah Business Company, aim to drive economic diversification and innovation...

19/11/24

Oman unveils shore power investment opportunities

Omans Sohar Port and Freezone recently revealed a strategic investment opportunity focused on the development of shore power infrastructure.

The Sohar Port and Freezones power project aims to mitigate emissions and also positions Sohar as a leading hub for innovation and growth in the region. The initiative offers a valuable avenue for companies seeking...

05/11/24

Oman's Progress on Free Trade Agreement with Singapore

Oman has made significant strides in expanding its trade relationship with Singapore, increasing its exported products from 51 in 2000 to 135 in 2018. This growth underscores Oman’s commitment to becoming an open trading system and its active participation in global economic integration.

Since the inception of Oman Vision 2040, the country has focused...

22/10/24

Oman’s SME sector growing with strong government support

Oman’s small and medium enterprise (SME) sector is experiencing significant growth with 141,126 registered SMEs at Q2 2024, as reported by the Authority for Small and Medium Enterprises Development.

This total comprises over 120,000 small enterprises, approximately 19,000 micro-enterprises, and more than 1,100 medium enterprises, highlighting a vibrant entrepreneurial landscape in the Sultanate.

[Omans...

08/10/24

Oman unveils 151 new investment opportunities

Oman`s Ministry of Housing and Urban Planning (MHUP) recently approved 151 new projects, in a bid to enhance economic growth and sectoral development. Announced on the Tatweer platform, these initiatives are designed to drive commercial and agricultural progress.

In partnership with the Ministry of Agriculture, Fisheries and Water Resources (MAFWR), the MHUP has introduced 89 new investment opportunities...

24/09/24

Oman Business Platform hits record transactions in H1 2024

Oman`s Business Platform facilitated a record 487,300 commercial transactions for the first half of 2024, figures from the Ministry of Commerce, Industry and Investment Promotion show.

During the first six months of the year, 195,556 automatic license approvals were granted, while 6,061 non-automatic licenses were issued. Additionally, 2,747 e-commerce licenses were issued by the ministry across...

10/09/24