Oman unveils 151 new investment opportunities
24/09/24
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 centered on agricultural development. These projects will span 9 million square meters of land across several governorates. The focus includes 70 agricultural projects, 10 livestock ventures, 7 water sector initiatives and 2 fisheries projects. The primary objective is to bolster Oman’s food, water and livestock security through the adoption of modern and innovative scientific techniques, aligning with the national development strategy for regional advancement.
Additionally, the MHUP has launched 62 development projects available by bidding on the Tatweer platform. This includes 2 commercial projects, 3 mixed-use commercial-residential areas and 57 industrial zones, encompassing a total area of over 100,000 square meters. To participate in these auctions, applicants must be companies with at least 30% Omani or GCC ownership or Omani nationals aged over 23. Applications must be submitted electronically along with a refundable deposit of OMR 500 (USD 1,300).
Strategically positioned, Oman offers access to a consumer base of 59 million across the Gulf Cooperation Council (GCC) markets and extends to emerging markets in Asia and Africa, reaching a total consumer base of one billion. The country also benefits from excellent infrastructure, including major ports such as Duqm, Salalah and Sohar thereby enhancing logistical connectivity between Eastern and Western trading routes.
The Sultanates legal framework, economic stability and robust GDP make it an attractive investment destination and recent Free Trade Agreements (FTAs) with Singapore, Switzerland and Pakistan will further boost trade opportunities. Investors can also benefit from residency permits of five or ten years, depending on investment volume.
Business Start Up Oman offers a network of experts and specialists within the lifecycle of a business. We offer expertise in Market Research and Assessment Oman, Oman Business Case, Oman Business Model Development, Feasibility Study and Business Plan Oman, Organizational and Operational Structuring Oman, Oman Sponsorship and Partnership, Company Formation Oman among others.
Please click on the link to learn more about the opportunities and possibilities in the Sultanate of Oman as well as the initiatives of Business Start Up Oman.
