MUSCAT: Oman’s fiscal reforms, economic diversification and expanding capital markets are strengthening its appeal to international investors as the Sultanate builds on its return to investment-grade status, according to a new report by Oxford Business Group (OBG) produced in partnership with Ominvest.

The report, titled Building for Tomorrow: Oman’s Vision 2040 and the Emerging Investment Opportunity, examines how lower public debt, improved sovereign ratings and growth in non-hydrocarbon activity are reshaping Oman’s investment landscape.

It said reforms under Oman Vision 2040 and the 11th Five-Year Plan, alongside developments in capital markets, sustainable finance, logistics, digital infrastructure and green hydrogen, are widening opportunities for domestic and international capital.

The report also highlights the role of institutional investors in supporting economic development and long-term value creation, with Ominvest Group CEO Abdulaziz Al Balushi saying disciplined and transparent deployment of institutional capital can serve as an engine of national development.

“The core themes explored in this report – Vision 2040, capital markets development, portfolio diversification, sustainability and Oman’s regional positioning – form the operational context within which we allocate capital, assess risk and build long-term value,” Al Balushi said.

OBG said Oman’s recent economic progress has created a more stable investment environment, supported by fiscal discipline, stronger governance and a pipeline of projects spanning financial services, infrastructure, tourism, industry and the energy transition.

The planned launch of the Oman International Financial Centre in 2026 and efforts by the Muscat Stock Exchange to secure emerging-market reclassification could provide further momentum to the country’s investment proposition, the report said.

Jana Treeck, OBG’s Managing Director for the Middle East, said Oman was entering a new stage of economic development characterised by stronger institutions, broader sources of growth and a more mature investment framework.

“This report examines how these trends are converging to create investable opportunities across the sultanate, while highlighting the role of Ominvest as a long-term partner in that transformation,” Treeck said.

The report said Oman’s combination of macroeconomic improvement, targeted reforms and expanding channels for capital deployment was strengthening its position as a long-term investment destination in the Gulf, while regulatory alignment, institutional credibility and disciplined execution would remain important to sustaining growth.