Oman's economy set to grow 3.4% in 2025
The robust growth projection follows a surge in foreign direct investments (FDI) into the country and an upgrade in the country's credit rating.
Foreign direct investment (FDI) inflows grew by 16.2 per cent in Q3 2024 compared to the same year-ago period, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, said.
Additionally, the Sultanate's credit rating was upgraded to ' BBB- ' with a stable outlook by Standard & Poor's, the minister said, addressing the 'Advantage Oman Forum' in Muscat on Sunday, April 27.
The event, organised by the Ministry of Commerce, Industry, and Investment Promotion to highlight the country's position as a promising investment destination, brought together over 250 prominent figures, including senior officials, decision-makers, and regional and international investors.
The minister said the forum marked a first-of-its-kind strategic event for Oman, attracting top decision-makers, business leaders, and investors across key sectors.
The event is organised in the backdrop of Oman experiencing significant growth in economic and investment fields, supported by rising international indicators.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
9 hours ago
- Khaleej Times
Abu Dhabi's non-oil trade surges as diversification drive gains pace
Abu Dhabi is pressing ahead with its diversification agenda, as new trade data highlight a remarkable expansion in its non-oil sector. According to the Abu Dhabi Chamber of Commerce and Industry (ADCCI), the emirate issued 10.3 per cent more certificates of origin between June 2024 and June 2025, a clear sign of widening export activity and the growing competitiveness of local industries. Certificates of origin — official documents confirming the national origin of goods — are crucial for exporters, as they allow products to qualify for preferential tariffs and smooth access to international markets under bilateral and multilateral trade agreements. The strong momentum in certifications reflects Abu Dhabi's growing role in global commerce and the success of its strategies to empower the private sector. The Chamber said that chemicals, metals, and engineering industries were the most prominent beneficiaries, while small and medium-sized enterprises (SMEs) are increasingly making inroads into new markets, supported by specialised training, matchmaking initiatives, and digital export platforms. This surge in export activity coincides with an exceptional performance in overall non-oil foreign trade. During the first half of 2025, Abu Dhabi's non-oil trade reached Dh195.4 billion, up 34.7 per cent from Dh145 billion a year earlier. Non-oil exports jumped 64 per cent to Dh78.5 billion, re-exports grew 35 per cent to Dh36 billion, and imports rose 15 per cent to Dh80 billion. This trajectory stands in sharp contrast to global trade trends, with the World Trade Organisation (WTO) estimating world merchandise trade growth at just 1.75 per cent over the same period. Officials say the results reflect not only Abu Dhabi's robust infrastructure and logistics but also its ability to adapt quickly to shifts in global supply chains. 'Certificates of origin are gateways to broader opportunities and vital tools for elevating the private sector's contribution to Abu Dhabi's economic growth,' said Shamis Al Dhaheri, second vice chairman of ADCCI. He added that the Chamber will continue to facilitate exports and expand international partnerships to enable SMEs and large firms alike to tap global markets efficiently. Analysts said the data indicate Abu Dhabi's diversification drive has gathered real momentum. 'Far from being overshadowed by oil, the emirate's non-oil trade is now one of the clearest signals that its economic transformation is on track, resilient and globally competitive,' they said. The dynamism in Abu Dhabi mirrors the wider UAE's trade boom. Across the federation, non-oil trade for the January–June 2025 period hit Dh1.7 trillion ($462.8 billion), almost double the value recorded five years ago. The UAE has set a target of reaching Dh4 trillion by 2031, though government leaders now expect this milestone to be achieved several years earlier if current momentum continues. Comprehensive Economic Partnership Agreements (Cepas) with India, Indonesia, Israel, Turkiye, Cambodia and Georgia have already boosted bilateral trade, while further deals are under negotiation. Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, described the emirate's progress as evidence of 'long-term planning, decisive policy execution, and a commitment to enabling the free exchange of goods, services, and innovations.' He emphasised that Abu Dhabi is working to entrench its position as a global hub by streamlining trade procedures, enhancing customs systems, and investing heavily in digitalisation. Abu Dhabi Customs has been instrumental in this transformation. Director-general Rashed Lahej Al Mansoori noted that reforms and partnerships have accelerated clearance times and reduced trade bottlenecks, while digital inspection systems and integrated customs platforms are improving efficiency. Strategic assets such as Khalifa Port and the expanded cargo facilities at Abu Dhabi International Airport have reinforced the emirate's standing as a logistics and re-export hub serving the Middle East, Africa and Asia. Global headwinds have not slowed Abu Dhabi's trajectory. WTO data show that merchandise trade volumes grew just 1.2 per cent in 2023, with forecasts suggesting only modest recovery in 2025. Yet Abu Dhabi has managed to grow non-oil trade more than twenty times faster than the global average in the first half of this year. Analysts say this is strengthening the emirate's appeal as a safe harbour for investors seeking both stability and opportunity. The International Monetary Fund (IMF) forecasts that the UAE's non-oil sector will expand by more than 4 per cent in 2025, buoyed by manufacturing, investment inflows and tourism. Abu Dhabi's Industrial Strategy aims to more than double the size of its manufacturing base to Dh172 billion by 2031, further embedding industry and advanced technology into its economy.
Gulf Business
15 hours ago
- Gulf Business
UAE hotels full this summer: What's driving the tourist surge
Image credit: WAM/Website The UAE is witnessing an exceptional summer tourism season, drawing in residents and international visitors with a vibrant mix of cultural, heritage, and entertainment offerings across its seven emirates. Despite the intense summer heat, the country has successfully positioned itself as a year-round destination thanks to innovation, safety, and world-class hospitality. Read- The UAE's success in transforming the typically slow summer travel period into a thriving tourism window is underpinned by robust promotional campaigns, attractive hotel packages, seasonal discounts, and expansive indoor entertainment options, Image credit: WAM/Website Soaring numbers, strategic planning Preliminary data shows hotel occupancy rates across the UAE have climbed to between 60 per cent and 70 per cent during July and the first half of August, a strong indicator of growing demand. The increase is seen as a direct result of government efforts to build smart tourism infrastructure, enhance visitor experiences, and promote the UAE as a safe and inclusive destination. Sheikh Dr Saeed bin Tahnoon bin Mohammed Al Nahyan confirmed that the country is enjoying a 'distinguished summer tourism season,' crediting the UAE's modern infrastructure, cultural openness, and exceptional public services for its growing global appeal. He attributed this progress to the vision of the UAE leadership, led by the President Sheikh Mohamed bin Zayed Al Nahyan, whose policies emphasise innovation, security, and quality of life for both citizens and visitors. Festival of experiences All across the UAE, cities are buzzing with summer events that offer a balance of tradition and modernity. Family-friendly festivals, shopping promotions, and cultural showcases have become key attractions for both regional and international travelers. In Abu Dhabi, highlights included the 21st Liwa Dates Festival, which drew nearly 144,685 visitors, alongside the Historic Dalma Race Festival, and the 6th IMMAF Youth World Championships, where over 1,000 athletes from 60 countries competed. Dubai's Summer Surprises, running until August 31, features an exciting mix of shopping, raffles, entertainment, and live performances, appealing to a wide audience of all ages and nationalities. Meanwhile, Sharjah's Summer Promotions have added a commercial boost to the season, attracting residents and tourists with family-centric events and retail experiences that reflect the emirate's cultural identity. Image credit: WAM/Website Safety first, always One of the UAE's strongest tourism pillars is its unwavering commitment to safety and public well-being. The nation consistently ranks high in global indices for personal security and community satisfaction. This reputation reassures families and international travelers alike, encouraging longer stays and repeat visits. Sheikh Dr. Saeed stressed that the UAE's appeal lies in its ability to offer peace of mind. 'From nightlife to intercity travel, the sense of security is unmatched,' he said. 'It's a destination where people from all cultures feel welcome, respected, and safe.' This sense of comfort is further enhanced by smart infrastructure, reliable public services, and efficient connectivity across all emirates. Looking ahead: A sustainable tourism vision The UAE's summer tourism momentum aligns with its broader vision for sustainable development. Authorities continue to invest in intelligent systems, eco-friendly initiatives, and inclusive programming to ensure long-term tourism growth that benefits both the economy and society. With its unique blend of heritage, innovation, and hospitality, the UAE is proving that even the hottest months of the year can deliver cool, memorable experiences.
Khaleej Times
4 days ago
- Khaleej Times
Pakistan Business Council Sharjah building economic bridges between Pakistan and UAE
In the heart of the United Arab Emirates' cultural capital, a new chapter of economic cooperation is being written and at the center of it stands the Pakistan Business Council Sharjah (PBCS). Sharjah, the second-largest emirate, is celebrated worldwide for its rich cultural heritage, bustling trade networks, and thriving economy. It is also home to one of the UAE's most vibrant expatriate communities: Pakistanis who have played a key role in shaping the emirate's commercial, educational, and healthcare sectors. Recognising the strength and potential of this community, the Sharjah Chamber of Commerce and Industry (SCCI) took the visionary step of welcoming the PBCS under its umbrella, creating a formal platform for Pakistani entrepreneurs, investors, and professionals to excel. Since its establishment, PBCS has moved swiftly from vision to tangible results. It has become a powerful connector, linking Pakistani businesses to Sharjah's opportunities and enabling Emirati investors to explore the untapped potential of Pakistan's markets. Through trade delegations, high-profile networking forums, and investment roadshows, PBCS has opened doors for collaboration across sectors ranging from manufacturing and technology to agriculture and services. PBCS has signed key agreements and partnered with international business councils to strengthen trade corridors between Pakistan and the UAE. From cultural festivals like Mango Festival to industry exhibitions, PBCS has highlighted Pakistan's craftsmanship, innovation and business potential on Sharjah's global stage. PBCS offering mentorship, training, and advisory services, the council has become a lifeline for small and medium-sized Pakistani enterprises seeking to establish themselves in the UAE. PBCS has gone beyond business by building trust, unity, and pride within the Pakistani diaspora, ensuring they are recognised not just as residents, but as partners in Sharjah's growth story. The leadership of PBCS has made it clear that their mission is not just to facilitate trade, but to build a legacy of mutual prosperity. With Sharjah poised for even greater economic expansion and Pakistan eager to strengthen its export footprint, PBCS stands ready to transform potential into performance. As the UAE and Pakistan celebrate decades of friendship, the Pakistan Business Council Sharjah is proving that with vision, collaboration, and commitment, communities can shape economies, and economies can shape the future.
