Oman is actively seeking Russian investment and plans to relax regulations for foreign businesses, according to Omani Ambassador to Russia, Hamood bin Salim bin Abdullah Altowaiya. Speaking at a conference hosted by the Russian Chamber of Commerce and Industry, titled ‘Prospects and Specifics of Doing Business in the Sultanate of Oman,’ Altowaiya emphasized Oman’s potential for Russian investors.
“I encourage all Russian companies to view Oman as an investment destination. Oman offers opportunities for both large multinational corporations and smaller businesses,” Altowaiya told Interfax.
The Omani government has implemented political and economic reforms to attract foreign investments, including preferential tax policies, capital repatriation, and streamlined bureaucratic processes. “These steps have created a favorable environment for foreign investors,” Altowaiya said.
Highlighting Oman’s strategic location and developed logistics infrastructure, he noted its potential as a hub for companies looking to expand within and beyond the region.
Sergei Nosov, Director of the Russian Industry and Trade Ministry’s Department for Asia, Africa, and Latin America, acknowledged the growing interest of Russian businesses in the Gulf, driven by a shift in foreign economic focus. “While our goal is to achieve technological sovereignty, we recognize the need for strong international partnerships, and Oman is one such key partner,” Nosov remarked.
He emphasized opportunities for bilateral cooperation, particularly in fields aligned with Oman’s development strategy, including pharmaceuticals, renewable energy, and digital technologies.
Nosov also mentioned the rising appeal of Oman’s special economic zones for Russian companies, offering significant industrial and logistics potential.
Alexei Rubtsov, Chairman of the Russian-Omani Business Council, concluded by stating that meetings between Russian and Omani representatives are driving bilateral cooperation forward. “Trade between the two nations is increasing, particularly in various equipment sectors. Russian imports from Oman have surged 6.5 times in the past year,” Rubtsov reported.
