Oman achieves more than $59bn total foreign investments in Q3 2023: NCSI

Oman’s foreign direct investments increased by 3.78 percent, reaching 22.96 billion Omani rials ($59.54 billion) by the end of the third quarter of 2023 compared to the second quarter.

The National Center for Statistics and Information reported that foreign direct investment rose by 836.2 million rials in the third quarter, up from 22.12 billion rials at the end of the second quarter.

In December, the oil and gas extraction sector constituted 76.9 percent of the total overseas funding received in the country, reaching 17.67 billion rials.

Furthermore, the influx of capital into Oman’s manufacturing sector at the end of the third quarter of the current year amounted to 1.40 billion rials. Meanwhile, the value of financial intermediation reached 1.53 billion rials.

Additionally, the value of real estate, rental activities, and business project activities amounted to 1.03 billion rials.

The total capital inflow in electricity and water was 466.3 million rials, while the total in transportation, storage, and communications was 361.9 million rials.

Trade saw a total of 216 million rials, while hotels and restaurants reached 111.4 million rials. In construction, the total was 82.1 million rials, while the total in other activities was 78.9 million rials.

The UK led the overall foreign investment by the end of the third quarter of 2023, capturing 50.1 percent of the total inward capital with a value of 11.52 billion rials.

It was followed by the US with a total investment of 3.88 billion rials, the UAE with 1.27 billion rials, and Kuwait with 922.3 million rials. Bahrain invested 732.6 million rials in total. China witnessed 594.5 million rials, Qatar had 442.3 million rials, and the Netherlands saw 374.7 million rials.

Foreign investments from Switzerland amounted to 288.3 million rials, while India saw 277.8 million rials. Fundings from other countries totaled 2.65 billion rials.