HH Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, officially inaugurated the inaugural international investment forum, Advantage Oman, organised by the Ministry of Commerce, Industry, and Investment Promotion.

The prestigious two-day event, hosted at the St. Regis Al Mouj Resort in Muscat, convened over 250 senior officials, decision-makers, and regional and international investors, underscoring Oman’s emergence as a premier global investment destination.

In his keynote address, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, highlighted the forum’s significance as a first-of-its-kind strategic platform designed to attract top-tier decision-makers, business leaders, and investors across pivotal sectors. He noted that the event comes at a time of accelerated growth in Oman’s economic and investment spheres, bolstered by positive international indicators.

Minister Al Yousef shared that foreign direct investment (FDI) inflows surged by 16.2% in Q3 2024 compared to the same period in 2023, demonstrating growing investor confidence. Furthermore, Oman’s credit rating was upgraded to BBB- with a stable outlook by Standard & Poor’s, and the national GDP is projected to grow by 3.4% in 2025 – outperforming several global economies and reinforcing the resilience of Oman’s economy.

The event also featured renowned speaker and Editor-at-Large Richard Quest, who had dialogue with H.E. Abdulsalam Al Murshidi, President of the Oman Investment Authority; and H.E. Qais Al Yousef, offering global and regional perspectives on investment and the Sultanate of Oman’s role in shaping future opportunities.

The forum’s first day featured five high-impact sessions exploring global economic megatrends and sectoral opportunities:

• Session One examined transformative global shifts and the influence of technologies such as artificial intelligence, climate tech, and hyperconnectivity, emphasising innovation and sustainability as pillars of competitiveness.

• Session Two, titled The Risk-Reward Equation in a Changing World, underscored the critical role of calculated risk-taking in organisational success, focusing on fostering risk culture and psychological safety.

• Session Three, Business Decisions – Environmental Challenges and Corporate Responsibility, addressed the urgent need for corporate accountability in tackling climate change and biodiversity loss, advocating for solutions like circular economy practices and green technologies.

• Session Four, Creative Leadership in a Rapidly Changing World, showcased how dynamic leadership and creative reinvention are essential for navigating today’s complex business environment.

• Session Five, The Power of Storytelling in Building Brand Trust and Loyalty, explored how businesses can effectively translate data and values into narratives that deeply connect with their audiences.

HH Sayyid Shihab bin Tarik Al Said also toured the forum’s exhibition, which featured a wide array of participants from both government entities and private sector institutions.

Day one also witnessed a high-level discussion on investing in Oman, featuring panelists H.E. Dr. Said Al Saqri, Minister of Economy; Mohammed Al Ardhi, Chairman of the Muscat Stock Exchange; and M.A. Yusuff Ali, Founfer and Chairman of Lulu Group International.

Building on the momentum of the opening day, the second day of the Advantage Oman Forum, organised by the Ministry of Commerce, Industry, and Investment Promotion and led by its investment promotion arm Invest Oman, shifted focus towards deeper engagement with strategic sectors and decision-makers. The day’s agenda emphasised moving from dialogue to action, featuring high-level panel discussions, investor networking sessions, specialised roundtables, and the signing of landmark agreements.

Her Excellency Ibtisam Al-Farooji, Undersecretary for Investment Promotion, addressed investors and delegates, reaffirming Oman’s commitment to facilitating private sector growth through transparent and streamlined engagement. She stated:

“We open the doors to Oman’s most strategic and future-focused sectors, and you will meet the senior government officials directly shaping their development. From renewable energy and green hydrogen to advanced manufacturing, logistics, digital technologies, sustainable tourism, and fisheries—you’ll discover where Oman’s priorities meet global demand. Through the efforts of Invest Oman and our network of partners, we have streamlined procedures, cut red tape, and introduced targeted incentives designed to move from interest to investment—swiftly and transparently.”

The day’s Government-to-Business sessions provided international investors with direct access to senior leaders managing Oman’s most dynamic sectors. Discussions centered around Oman’s strategic advantages—natural endowments, cost competitiveness, geographic positioning, and integrated planning under Oman Vision 2040—and how these strengths are opening new avenues in clean energy, advanced manufacturing, logistics corridors, digital innovation, sustainable tourism, and fisheries.

One of the defining highlights of Day Two was the announcement of a landmark US$565 million clean energy manufacturing agreement. Facilitated by Invest Oman, the deal was finalised between JA Solar Energy – one of the world’s top four manufacturers of high-performance solar cells and modules – and key Omani entities including SOHAR Port and Freezone and Majis Industrial Services S.A.O.C.

The agreement marks a major milestone for Oman’s renewable energy ambitions. Covering 32.8 hectares within the second phase of the SOHAR Freezone, the project is slated to achieve an annual production capacity of 6 gigawatts of solar cells and 3 gigawatts of solar modules. Target markets include Europe, the United States, and domestic consumers, with operations expected to commence in 2025.

This investment aligns squarely with the sustainability and diversification goals laid out in Oman Vision 2040, and it showcases the success of Oman’s strategic investment facilitation model, which included coordinated efforts among government institutions like the Public Authority for Special Economic Zones and Free Zones (OPAZ), the Authority for Public Services Regulation, Oman Electricity Transmission Company (OETC), NAMA Supply, and Majis Industrial Services.

The second day’s activities demonstrated Oman’s proactive commitment to fostering strategic sector growth, accelerating real investment outcomes, and building durable international partnerships. As the Advantage Oman Forum drew to a close, many international CEOs and investors embarked on curated tours across Oman to experience the country’s investment-ready infrastructure, rich cultural heritage, and the practical advantages that position Oman as a distinctive hub for long-term growth and global engagement.

With strong foundations laid and tangible agreements secured, the Advantage Oman Forum has undoubtedly set the stage for a new era of investment-driven economic expansion in the Sultanate.