Oman

Guided by the foreign policy principle “Friends of all, enemies of none”, the Sultanate of Oman is often often characterized has a haven of peace in a turbulent region. Despite its heavy reliance on revenues from oil and gas, Oman is actively striving to expand its economic base and diversify its revenue streams, with a particular focus on sectors such as manufacturing, technology, and tourism, among others.

To this extent, this nation of fewer than 5 million is also developing incentives for foreign investors, including tax benefits and labor incentives. Against the backdrop of the country’s political stability and positive macroeconomic environment, however, Oman still faces challenges, including vulnerability to  global energy price fluctuation, dependence on foreign workers and a significant debt burden.