Fast Economic Facts

GDP (2009):	US$ 53.4 billion
Real GDP Growth Rate	3.6%
Economic sectors' share in GDP	- Services : 49.9%
	- Industry: 48.6%
	- Agriculture : 1.4%
GDP per-capita PPP:	US$ 25,000
Inflation	3.5 per cent

 

Fast Trade Facts

Total merchandise exports (2009):	US$ 30 billion
Major Exports:	Oil and Gas, re exports, animals and animal products, chemical products, minerals and its products, electric systems and equipments, Food Industry and Rubber and plastic products, textiles
Principal export destinations:	China, Thailand, UAE, Japan, Australia (24th)
Total merchandice imports (2009):	US $ 20 billion
Major Imports:	Automobiles and machinery, minerals and its products, food, livestock, and manfactured goods, mechanical and transport equipments
Oman's principal import sources:	UAE, Japan, India, US, Australia (12th)
Major Oman imports from Australia (2009):	Passenger motor vehicles
	Milk and cream
	Live animals
	Meat
	Wheat
Major Oman exports to  Australia (2009):	Refined Petroleum
	Fertiliser, stone, sand and gravel
	Tubes, pipes and construction materials

The Sultanate of Oman is forging confidently ahead towards comprehensive and sustainable development achieving remarkable growth in all areas of its economy in recent years. Oman has been encouraging market-oriented policies and private sector development as the mechanism for prosperity and growth. Oman furthermore encourages foreign capital that enhances the development of the country. There are an ever growing number of reasons and incentives to do business in Oman as such it is no wonder that it is fast becoming a most promising and attractive business market.

Why do Business in Oman?

Current investors and businesses in Oman are enjoying a free market and a very open and healthy economy, there are a number of reasons and incentives why Oman is among the world’s most promising business destinations, including:

• Political stability
• Currency stability
• Excellent Strategic location
• Many nationals can obtain visas upon arrival including Australians
• Grand Arab Free Trade Zone
• Unified GCC Custom Tariff
• WTO membership
• Freedom to transfer capital and profit
• Customs exemption for machines, equipments and raw materials of industry
• No tax for personal income
• 12% tax rate for all businesses including branches and permanent establishments of foreign companies for foreign branches
• Guarantee for Omani origin exports against commercial and political risks.

For further reasons of why to invest in Oman please visit the ‘investment incentives’ section in the Oman Chamber of Commerce & Industry website: Normal 0 false false false EN-AU X-NONE AR-SA MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:Arial; mso-bidi-theme-font:minor-bidi;} http://www.chamberoman.com/En/Content.aspx?SecNo=15

 

Current Business Opportunities

The Omani Centre for Investment Promotion and Export Development (OCIPED) has created a list of the general sectors where there are current investment opportunities. Such areas include Infrastructure, Petroleum, Tourism and Information Technology sectors to name a few. For the current list of investment opportunities click here.

 The Oman Tender Board is an excellent place to search for tender opportuities available: www.tenderboard.gov.om

 

Frequently Asked Questions

OCIPED has created a list of Frequently Asked Questions mostly about investment. These questions and answers are associated primarily with the incentives and benefits of foreign investment in Oman. To see the list please click here.

 

Useful Publications

In 2009 Ernst and Young published a report titled Development in 2009 which gives an insightful overview of the economic, commercial and tax developments for 2009. To view the publication please click here (pdf).

Bayliss Associates under the auspices of the Council of Australian–Arab Relations and the Australian Arab Chamber of Commerce have published a business guide on Oman. The report gives a brief overview on Oman and details important information on the market environment, practical advice on entering the market and highlights the major industry sectors in Oman.  To view this Business Guide on Oman click here (doc).

 

 

 

Useful Contacts

The Omani Centre for Investment Promotion and Export Development, (OCIPED) is a government institution established in 1996, that aims to promote foreign investment in Oman and develop Oman’s export capabilities.

P.O.Box 25 Wadi Kabir, Oman
Tel: (00968) 24812344
Fax: (00968) 24810890
www.ociped.com

The Oman Chamber of Commerce and Industry began operation in 1973. It was established to assist and encourage the private sector to set up and execute industrial, agricultural and commercial development projects. The chamber undertakes wide ranging activities both within Oman and internationally.

P.O. Box 1400
Postal Code 112, Ruwi
Sultanate of Oman
Tel: (00968) 24707674/84/94
Fax: (00968) 24708497 / 24704041
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.chamberoman.com

The Australian Trade Commission (Austrade) is the Australian Government’s trade and investment development organization, which operates under the Australian Department of Foreign Affairs and Trade portfolio. Austrade is well established throughout the Gulf and has a part time office based in Muscat. Please find below Austrade contact details based within the Australian Consulate General in Dubai.

Austrade
Tel: 13 28 78 (Australia only)
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Australian Consulate-General
Level 25, Bur Juman Business Tower
Khalifa Bin Zayed Road
Dubai
Tel: (97 14) 508 7100
Fax: (97 14) 355 1547
Website: www.austrade.gov.au

 

The Ministry of National Economy is the authorized body to propose the development strategy and future trends for the national economy. It prepares the countries development plans and investment programs and is responsible to conduct studies on the regional and international trends and their impact on the national economical policy.

P.O. Box 881 Muscat, Postal Code 100
Sultanate of Oman
Tel. 968- 24698900
Fax 968 - 24698467
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.moneoman.gov.om

The Australia Arab Chamber of Commerce and Industry Inc. (AACCI) was founded in 1975 and operates with the full support of the Department of Foreign Affairs & Trade and Austrade. The Chamber is recognised as the peak business Association for Companies dealing with Arab League Countries.
 

AACCI has an office in each Australian state and their contact details can be found on their website:

Head office contact details are as follows:
AACCI - National Office
C/- Australian Chamber of Commerce & Industry
24 Brisbane Avenue Barton
ACT 2600 Australia
Tel: 61 2 6270 8037
Fax: 61 2 6273 3196 
Website:   www.austarab.com.au  

 

Enquiries

For more information about how to invest or trade in either Oman or Australia, please contact the Australia Oman Business Council: This e-mail address is being protected from spambots. You need JavaScript enabled to view it