The United States and Oman have been friends and good partners for many years. The U.S. recognises Oman’s strategic importance for peace, security, and global trade. The relationship has been growing in scope, as proved by the Memorandum of Understanding on Environmental Cooperation, signed in 2006, the bilateral FTA in 2009, and the Science and Technology Cooperation Agreement of 2016.
In 2022, bilateral trade between the two countries was valued at over US$4bn dollars, and the United States is the leading buyer of Oman’s non-oil exports. U.S. investment in Oman spans various sectors. Expanded engagement in the Middle East has been central to U.S. foreign policy for decades. Besides security cooperation, there is plenty of room for expanding economic ties to support economic development and diversification in Oman, creating opportunities for U.S. companies.
Oman Vision 2040 is the Sultanate’s gateway to overcoming challenges, keeping pace with regional and global changes, generating and seizing opportunities to foster economic competitiveness and social well-being, stimulating growth, and building confidence in all economic, social, and developmental relations nationwide.
1st
in Quality of Life Index in Middle East / Arab World
4th
Safest country in the World according to Numbeo ranking
2nd
in Logistics Performance Index for Middle East
0.4 %
jump in FDI in Oman in 2022
1st
in region in terms of contribution of education sector to GDP
8th
lowest corporate tax rate worldwide (15%)
Oman: The Report
Oman: Tale of transformation
Oman’s ability to diversify its economy and empower its young people has cemented the nation as a leading economic powerhouse in the Middle East
17 November, 2023
The US marks Oman as bridge to the Gulf
Oman has become a prime target for American investments in the region based on new incentives and open trade relations
17 November, 2023
New economy shifts to innovation
Revenues gained from the recent rise in oil prices have allowed Oman to pivot away from hydrocarbons towards adding value to its industrial value chain and promote the growth of new innovative sectors
17 November, 2023
Safe haven for American investment
As Oman’s second largest source of FDI, the US is actively promoting increased collaboration based on stable ties and mutual gain
17 November, 2023
Vision of a new age for Oman
The Vision 2040 blueprint has seen Oman take huge strides towards leading the world in manufacturing, logistics and innovation
17 November, 2023
Harnessing the power of local SMEs
Oman’s push to support entrepreneurialism has paid off, with SMEs now accounting for around 26% of Oman’s GDP
17 November, 2023
Turning the keys to unlock local potential
Oman’s wealth fund has put the public sector in the spotlight in its drive to maximize in-country value and economic sustainability
17 November, 2023
Entrepreneurs look upward and outward
As the country opens up to the world, new businesses are charging beyond the local market towards international prospects
17 November, 2023
Redefining boundaries with technology
With tech-related investments of more than $775 million in 2022, Oman stands to lead the world’s fourth industrial revolution
17 November, 2023
New age of connectivity
Oman’s telecommunications sector seen as linchpin in digitization of new industries
17 November, 2023
Oman sets path to greener tomorrow
The nation’s net-zero ambitions are driving green transformation across all segments of its industrial value chain
17 November, 2023
Behind the curtain of Oman’s circular economy
Oman’s goal to become a leader in hydrogen and sustainability is sparking global interest
17 November, 2023
Pioneering the pivot to clean energy
Oman’s oil and gas industry is paving the way for the nation’s diversification plans as it prepares for its energy transition
17 November, 2023
Mining Oman’s wealth
After signing 12 licenses in 2022, Oman readies for a new age of mining development
17 November, 2023
Creative talent shines bright
Industry leaders are pushing Oman’s unique heritage as a competitive advantage in design and tourism
19 November, 2023
Utilizing the power of partnership
As Oman diversifies under Vision 2040, innovators are bringing Oman’s new sectors to the forefront
19 November, 2023
Interviews
Interview with Khamis Saif Al Jabri, Chairman, Vision 2040
“Our journey towards achieving the objectives of the Vision 2040 initiative is ongoing; even if we surpass our set targets, our thirst for development and progress will remain unquenchable.”
02 October, 2023
Interview with Said Mohammed Ahmad Al Saqri, Minister of Economy, Oman
“Oman is set to become a major economic powerhouse for the region and the world beyond.”
30 May, 2023
Interview with HE Abdulsalam Al Murshidi, President, Oman Investment Authority
"We are one of the few global funds with more than one mandate, role, and responsibilities. Our overall mission is to save for future generations and develop the national economy."
30 May, 2023
Interview with Kevin Schafer, Director, The American International School of Muscat
“Many Omanis are graduates of American universities and often inquire about educational opportunities and ways their companies can connect with the American education system.”
30 May, 2023
Interview with Nailesh Kanaksi Khimji, Director, Khimji Ramdas Group
“Oman’s unique identity is shaped by a fusion of different cultures, which makes it a welcoming country for global investors and people with an open mind towards religion, foods and customs.”
30 May, 2023
Interview with Khalid Al Balushi, CEO, TANMIA
“The investment relationship is long standing and well established with USA, and with Oman Vision 2040, there are various new opportunities to be explored in different sectors with the USA.”
30 May, 2023
Interview with Abdulwahab A. Al Maimani, Owner, Abdulwahab’s Office
“While there are high risks associated with new sectors growing here in Oman, this expansion always creates comprehensive economic growth.”
30 May, 2023
Interview with Haitham Salim Al Salmi, CEO, Muscat Stock Exchange
“Oman is a stable harbor for foreign businesses seeking to expand their opportunity horizon”
30 May, 2023
Interview with Tariq Ali Al-Amri, CEO, Oman Environmental Services Holding Company (be’ah)
“Our drive to create a circular economy for all dimensions of industry will present new opportunities and enhance the level of cooperation between be’ah and international players.”
30 May, 2023
Interview with Salim Nasser Al Aufi, Minister of Energy and Minerals, Oman
“We need to make energy affordable and accessible to everyone and make it as clean as possible using the technologies available today.”
30 May, 2023
Interview with Badar Al Kharusi, Chairman, Minerals Development Oman
“If we look back 10 years from now, we want to see that we have created a mining industry that is comparable to the local oil and gas industry or emerging industries such as logistics and tourism.”
30 May, 2023
Interview with Naif Al Awaid, Group CEO, Kunooz Oman Holding
“We need to acquire best practices to create an attractive environment for mining companies and investment.”
30 May, 2023
Interview with Steve Phimister, Managing Director, Petroleum Development Oman
“We are now growing our energy system by increasing sustainability in the oil and gas industry, addressing our existing emissions and investing in new technologies to utilize new forms of energy.”
30 May, 2023
Interview with Walter Simpson, Managing Director of CC Energy Development
“The three following things are valuable to us as a business: being a low-cost producer, having a low environmental footprint and being valued by the communities we work with.”
30 May, 2023
Interview with Abdulrahman Al-Yahyaei, CEO, The Oman Energy Association
“American companies are welcome to enter Oman and introduce any technologies that can benefit and accelerate projects, especially in green hydrogen and new energies.”
30 May, 2023
Interview with Fouad Eid, Vice-President of Europe, Middle East and Africa, ChampionX
“It is crucial that we grow knowledge and visibility of Oman as an exciting and essential investment destination in the USA.”
30 May, 2023
Interview with Interview with Said bin Hamoud Al Maawali, Minister of Transport, Communication and Information Technology, Oman
“Oman has always tried to be on the right side of history when it comes to conflicts and has worked hard to ensure that we properly manage our relations with other nations; we see ourselves as a beacon of peace.”
30 May, 2023
Interview with Said Abdullah Al Mandhari, CEO, ITHCA Group
“There is a big opportunity to expand the number of data centers, cables and other required facilities in Oman because demand is high and requirements for data capacity are always increasing.”
30 May, 2023
Interview with Talal Bin Said Marhoon Al-Mamari, CEO, Omantel
“Oman has a clear vision and long-term strategy that is being executed through well-orchestrated and solid programs and planned milestones.”
30 May, 2023
Interview with Safa Al Salmi, General Manager, MADA
“The quantum computing market could be worth several billion dollars in the coming years as it becomes more commercially viable.”
30 May, 2023
Interview with Ahmed Al Musalmi, CEO, Sohar International Bank
“The banking sector’s extensive presence across the country, both physically and digitally, has substantially contributed to developing the economy.”
30 May, 2023
Interview with Emile Hoogsteden, CEO, SOHAR Port and Freezone
“By 2050, SOHAR Port and Freezone will be a fully functional integrated industrial logistics port complex with net-zero carbon emissions; we aim to be the best place in the GCC and the rest of the world for manufacturing green goods.”
30 May, 2023
Interview with Braik Musallam Al Amri, Chairman, Salalah Port Services Company
“If American businesses relocate their factories to Oman, they save money. It’s as simple as that.”
30 May, 2023
Interview with Salim Al Thuhli, CEO, Khazaen Economic City
“Khazaen Economic City’s mandate is to attract foreign direct investment in the following major sectors: logistics, pharmaceuticals, food and beverage, sustainability and technology.”
30 May, 2023
Interview with Husam Baqawir, Founder and CEO, Invest
“My personal vision is to make it normal for Omani SMEs, companies and projects to move from the local market to the international market.”
29 May, 2023
Interview with Bader Al Zidi, CEO, and Jan Michael Holzberg, Commercial Director, Vodafone Oman
“The Vision 2040 initiative has been a leapfrog in terms of digitization that came at just the right time.”
29 May, 2023
Interview with Mr. Salim Al Zeidi, CEO, Shine Mark
“The Vision 2040 program represents an incredible opportunity for investors and those looking to join the market to study what products and services are in demand.”
29 May, 2023
Interview with Hamad Humud Al Qasabi, Former CEO, Public Establishment for Industrial Estates
“Currently the number of American investors in the country is limited, but there is huge potential to grow the number of US businesses exporting products from Oman to the region and to the USA.”
29 May, 2023
Interview with Dawood bin Salim Al Hadabi, CEO, Public Establishment for Industrial Estates (Madayn)
“We wholeheartedly welcome American businesses to tap into Oman’s market and contribute to its growing economy.”
29 May, 2023
Interview with Naif Al Abri, President, Civil Aviation Authority
“We enjoy an excellent relationship with the USA both politically and diplomatically, and we can become even closer through partnerships in the aviation industry.”
29 May, 2023
Interview with Mohamed Ahmed, CEO, SalamAir
“The following five to ten years will be critical for the airline, Oman and the region.”
29 May, 2023