Why OMAN

8 Reasons Why Oman is an Economic Opportunity

Oman has rapidly transformed into a dynamic business hub, evolving from a modest port town to achieve recognition as one of the steadily expanding economies in the Middle East within a period of five decades. The following compelling factors underscore Oman’s appeal as an optimal destination for businesses seeking expansion or the establishment of new ventures, particularly those with innovative concepts and globally scalable products within the technology and digital sectors.

Reason 1: Location

Oman’s strategically advantageous geographic location serves as a pivotal nexus connecting the East and the West, facilitating seamless access to key markets across Europe, Asia, and the Middle East and North Africa (MENA) region. This positioning offers significant logistical and commercial benefits, streamlining trade routes and fostering opportunities for international business expansion and collaboration.

Reason 2: Economic Diversification

The Omani Governments “Vision 2040” aims to diversify the economy away from its reliance on Oil. This initiative opens up various other business opportunities in sectors like Technology, tourism, logistics, renewable energy and Healthcare.

Reason 3: Business Growth.

Partnering with a robust local entity in Oman provides invaluable assistance in strategically preparing to identify and capitalize on significant growth prospects. Standing firmly alongside investors, this collaboration offers unparalleled guidance, smoothing the path towards accessing and thriving within promising new high-growth markets in the region.

Reason : Tax friendly

Oman offers a fiscally attractive and stable environment for businesses, facilitating their operations and trade expansion within the nation through a range of compelling tax advantages, including:

  • Absence of personal income tax.
  • A competitive corporate tax rate.
  • Tax exemptions within designated Free Zones.

These measures collectively empower businesses with a secure and advantageous financial landscape for growth and development.

Reason 5: Diversity

Oman boasts a highly diverse workforce, with approximately 1.8 million foreign nationals representing over 80 countries, establishing the nation as a truly global hub for talent and innovation. This rich multicultural environment fosters a broad spectrum of perspectives, skills, and experiences, which significantly enhances the potential for creativity and problem-solving, ultimately contributing to the increased success rate of start-ups and small businesses operating within the Sultanate.

Reason 6: Technology and digitalisation focused

The Omani government strategically prioritizes technology and digitalization, evidenced by dedicated future agendas and ongoing development of strategies for a more tech-inclusive society. This commitment ensures that investors in Oman will gain access to cutting-edge advancements, including the latest in Artificial Intelligence technologies, to enhance their business operations. Such access will empower businesses to optimize processes, improve decision-making, and drive innovation, positioning Oman as a forward-thinking destination for technologically advanced ventures.

Reason 7: The ideal time zone

Oman’s strategic time zone, situated conveniently between key Asian and European business hubs, translates to significantly more productive business hours for international collaborations. This advantageous positioning allows for substantial overlap in the working days of both Eastern and Western partners, facilitating real-time communication, efficient coordination of projects, and streamlined decision-making across continents, ultimately enhancing global business operations.

Reason 8: Open door Policy.

Oman actively fosters an open-door policy aimed at attracting both corporate investors and governments, recognizing the mutual benefits of such partnerships. This welcoming approach provides access to a dynamic market encompassing nearly 20 countries within the MENA region, a hub for numerous high-net-worth individuals, technologically advanced businesses and residents, as well as progressive and forward-looking governmental entities seeking collaborative opportunities.

Testimonials of Investors in Oman.