Oman’s GDP is expected to grow by 3.4 per cent this year, outperforming many global economies, a senior government minister said.
The robust growth projection follows a surge in foreign direct investments (FDI) into the country and an upgrade in the country’s credit rating.
Foreign direct investment (FDI) inflows grew by 16.2 per cent in Q3 2024 compared to the same year-ago period, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, said.
Additionally, the Sultanate’s credit rating was upgraded to ‘BBB-‘ with a stable outlook by Standard & Poor’s, the minister said, addressing the ‘Advantage Oman Forum’ in Muscat on Sunday, April 27.
The event, organised by the Ministry of Commerce, Industry, and Investment Promotion to highlight the country’s position as a promising investment destination, brought together over 250 prominent figures, including senior officials, decision-makers, and regional and international investors.
The minister said the forum marked a first-of-its-kind strategic event for Oman, attracting top decision-makers, business leaders, and investors across key sectors.
The event is organised in the backdrop of Oman experiencing significant growth in economic and investment fields, supported by rising international indicators.
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