Oman expects its economy to grow by 3.4% in 2025, driven by rising foreign investment and improved credit metrics, according to Commerce, Industry, and Investment Promotion Minister Qais bin Mohammed Al Yousef.
Speaking at the Advantage Oman Forum in Muscat on April 27, Al Yousef said foreign direct investment into the country rose 16.2% in the third quarter of 2024 compared to the same period a year earlier. The forum, hosted by Oman’s Ministry of Commerce, brought together over 250 participants, including senior government officials, global investors, and private sector leaders.
Standard & Poor’s recently raised Oman’s sovereign credit rating to BBB, which has a stable outlook, citing fiscal consolidation and higher non-oil revenue. The upgrade follows a series of structural reforms and debt reduction measures adopted over the past three years.
The Advantage Oman Forum aims to showcase investment opportunities across logistics, manufacturing, energy, tourism, and technology sectors. It is part of Oman Vision 2040, the government’s long-term economic diversification strategy.
According to the World Bank, Oman’s economy expanded by 2.1% in 2023. The country’s growth forecast 2025 puts it above the projected average for the MENA region, which the IMF estimates at 2.8%.
The government continues to attract foreign capital through regulatory reforms, public-private partnerships, and new special economic zones. Discussions at the forum also focused on facilitating cross-border investment and reducing administrative barriers.
Oman is targeting $19 billion in FDI by 2027, based on figures shared by the ministry.
