Industry, Logistics & Shipping

Oman received $19bn in foreign investment in 2016

Foreign investors ploughed OR7.4 billion ($19.21 billion) into the country last year, almost a billion more than in 2015, according to government data.

The news was welcomed by analysts and experts as a healthy indicator that Oman is on the right track to diversify and grow, said a Times of Oman report.

The economy witnessed an increase of OR800 million ($2.07 billion) in foreign direct investments last year, according to the National Centre for Statistics and Information (NCSI), it said.

Oman’s Ministry of Trade & Industry also revealed that the final quarter of 2016 alone saw an investment of OR 717.5 million ($1.86 billion), added the report.