The Sultanate of Oman has occupied the 21st place globally in the list of 2024 ‘best countries for investment and doing business’, according to a report issued by CEOWORLD magazine headquartered in New York.
The ranking reflects Oman’s consistent efforts to improve its business environment and enhance its attractiveness to foreign direct investments (FDI).
The report states that Oman garnered an economic stability score of 92.12 points, in addition to positive assessments of government policies and skilled workforce. These factors emerge as an added asset to the country’s institutional framework rating of 92.34 points, which, the magazine said, affirm Oman’s attractiveness to foreign investment and entrepreneurship.
This advanced rating caps up Oman’s efforts to implement Oman Vision 2040, which seeks to diversify the national economy and diminish dependence on oil revenues.
The report also highlights the role of the ‘Invest Oman’ lounge (the leading official interface for major investments in the Sultana
te of Oman) in streamlining investor experience that benefits from comprehensive business services.
It is noted that the remarkable development in infrastructure, including free zones and special economic zones, boosted Oman’s ability to attract foreign direct investment. This is further enhanced by the country’s focus on digital transition and technology-driven business climate, said the magazine, noting that all those factors greatly contributed to the consolidation of Oman’s position as a leading investment destination.
As Oman presses ahead with improving its business environment-offering innovative investment solutions, economists expect that the country would maintain its attractiveness to international investors and ameliorate its stature in global rankings in the coming years.
Source: Oman News Agency