Oman’s free zones attracted $4bn in investments last year

Growing Oman appeal

$4.1bn invested in zones

325 investments agreements

Private businesses invested OR1.6 billion ($4.1 billion) in Oman’s free zones, economic zones and industrial cities last year, highlighting the sultanate’s growing appeal as a regional business hub.

The sultanate signed a total of 325 investment agreements across six major jurisdictions, Oman Daily Observer, a local news outlet, reported, citing a report by Duqm Economist Magazine. 

The magazine is published by the Public Authority for Special Economic Zones and Free Zones (Opaz), which oversees special economic zones and free zones across Oman.

The report, however, does not provide comparative figures from previous years for comparison.

The special economic zone at Duqm led the investments, securing OR1.15 billion in private sector funding. Sohar free zone followed in second place, attracting OR712.5 million in business investments.

Other key investment destinations included Salalah free zone with OR567.8 million, Khazaen Economic City securing OR80.99 million, and Al Mazunah free zone with OR745,000 in investments.

The Public Establishment for Industrial Estates (Madayn), responsible for developing and managing industrial cities throughout Oman, recorded OR244.81 million in private investments, contributing to the country’s industrial development strategy and economic diversification efforts.

Oil currently accounts for about 55 percent of the Omani economy, so private sector investment is an important part of the Gulf state’s bid to diversifying its revenue streams. The International Monetary Fund released its latest GDP data this week. The fund said real GDP in Oman rose by 1.7 percent last year and is set to grow by 2.3 percent in 2025 and 3.6 in 2026.

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