Doing Business in Oman Guides. Middle East. Learn from the Oman Small Business Ideas and Opportunities – a short guide for entrepreneurs. And get information about Oman Franchise & Middle East Business Opportunities and other small business and SME entrepreneurship news. The Oman Government has embarked on an economic diversification policy that lays emphasis on agriculture, fisheries, tourism, mining, public utilities and manufacturing industries that use local raw materials and products, help in maximizing value addition and are export oriented. Although the non-oil sectors contribution to GDP has been steadily increasing over the years, Oman‘s dependence on oil is likely to continue in the years to come.
Doing Business in Oman Guide
With limited energy reserves, Oman is focused on diversifying its economy away from oil and gas production. The long-term ‘Oman Vision 2020’ development plan highlighted the need fort he Omani economy to diversify through a process of Omanization, industrialization and privatization. The largest single industrial investment target is the port city of Sohar, near the UAE border. It has witnessed approximately $14 billion in government investment alone in the financing of several industrial projects, including a refinery, polypropylene plant, steel rolling mill, a fertilizer plant, and an aluminum smelter. In addition to industrialization efforts, Oman is aggressively marketing itself as an upscale, environmentally conscious tourist destination. Learn more from Oman Business Guide provided by ExportGov from the US Government.