The Invest Oman Lounge has successfully localized 29 investment projects valued at approximately $3.1 billion since its launch in January 2023, according to the Oman Daily Observer. This initiative aims to attract foreign direct investment (FDI) and aligns with Oman Vision 2040 by focusing on key sectors like renewable energy, technology, and tourism.
Operating under the Ministry of Commerce, Industry, and Investment Promotion, the Lounge streamlines the investment process by offering incentives, infrastructure, and access to skilled labor. It has been instrumental in facilitating significant investments, particularly in Oman’s industrial sector. A notable project is a polysilicon factory in Sohar Free Zone, valued at over $1.36 billion, set to open in 2025, enhancing Oman’s industrial capabilities.
Additionally, the Lounge has enabled approximately $1.14 billion in investments in Sultan Haitham City, developed in collaboration with the Ministry of Housing and Urban Planning.
A unique feature of the Lounge is its team of 15 representatives from various government entities, who can issue approvals and licenses, significantly simplifying the investment process. Investors also have access to a commercial bank and a visa accreditation office within the Lounge.
To further ease the investment journey, the Lounge offers a “Relationship Manager” program, assigning a dedicated manager to assist investors with regulatory procedures, from opening bank accounts to company registration.
Hafsa bint Salem al Rashidi, Investor Relations Manager at Invest in Oman, emphasized the Lounge’s success in attracting diverse investments, especially in the industrial sector, with notable growth in renewable energy and health.
The Lounge is part of Oman’s strategy to foster a business-friendly environment and provides potential investors with maps of opportunities and feasibility studies. Specialized teams analyze incoming investments to ensure alignment with Oman’s long-term economic goals.
Rabab bint Mustafa al Lawati, Director of the National Negotiation Team, highlighted the Lounge’s role in expediting investment project approvals, stating that “Service Ambassadors” assist investors at every step, from obtaining documents to finalizing contracts.
The Lounge also distributes detailed guides outlining procedures for its electronic system to ensure global investors have easy access to essential information.
As Oman positions itself as a global investment hub, the Invest Oman Lounge is crucial in attracting foreign investments. The Lounge aims to enhance its digital platforms and services to meet international standards, focusing on sectors aligned with global economic trends like renewable energy, AI, and sustainable tourism. Through its proactive investor relations and streamlined processes, the Lounge is helping solidify Oman’s status as a leading investment destination in the region.
