Muscat: Since the Foreign Capital Investment Law and the Public-Private Partnership Law came into effect in 2020, Oman has reaffirmed its openness to global business, aligning all reforms with the long-term objectives of Oman Vision 2040.

Combined with economic sustainability measures and robust legal protections, Oman now presents a business-friendly environment ideal for large-scale, long-term foreign investment.

A turning point came with the launch of the “Invest Easily” platform in 2016—later integrated into the unified Oman Business Platform in 2023. This nationwide digital transformation cut processing times drastically, improved transparency and enabled smoother access to incentives such as tax and customs exemptions.

Among Oman’s most promising sectors, renewable energy and green hydrogen stand out prominently. The Sultanate aims to generate 30% of its electricity from renewables by 2030, while pioneering one of the world’s most ambitious green hydrogen strategies.

The government’s creation of Hydrom (Hydrogen Oman) and the allocation of 50,000 sq km for green energy projects have significantly enhanced Oman’s competitiveness in the global clean-energy race.

One of Oman’s most attractive incentives is the right of 99-year usufruct, allowing investors long-term use, investment, and inheritance of property. Widely used in integrated tourism complexes and industrial projects, this long-term certainty is considered a decisive motivator for foreign capital seeking stability.

Dr. Davis Kalukran, Managing Partner of Crow Oman and Board Member at the American Chamber of Commerce, praised the clarity of Omani laws, noting that the Foreign Capital Investment Act “helps investors understand the government’s direction and provides confidence in how their interests are protected.”

He highlighted the role of corporate tax in supporting infrastructure and improving living standards, alongside the strategic advantage of Hydrom’s green energy mandate.

Syed Fayyaz Ali Shah, Chairman of Syed Fayyaz Group, described the new laws as “an embodiment of Oman’s renewed renaissance,” stressing that they promote public-private collaboration and prepare the Sultanate for decades of economic expansion. He said the digital shift has notably boosted confidence in real estate and the broader private sector.

For Ahmad Subhani, CEO of Falcon Group, the approval of 100% foreign ownership in special economic zones marked a pivotal confidence boost. He emphasised that platforms like Invest in Oman and Oman Business have transformed the investor journey through faster, clearer, and more transparent procedures.

He sees strong potential in tourism, logistics, fisheries, mining, healthcare, technology, and creative industries.

Sivakumar S, Managing Director at Novell Muscat International, noted that the Foreign Capital Investment Act and the PPP Law address key ownership concerns. He said the 99-year usufruct right gives “long-term certainty for industrial projects that span decades,” reinforcing the government’s commitment to partnership.

According to Anthony Hilo, CEO of Sarawj Construction, digitalisation has revolutionised the business landscape. “What once took weeks now takes just one day,” he said, describing Oman as one of the world’s most promising renewable energy markets due to its solar and wind potential, and strategic positioning for green hydrogen and ammonia production.