Oman exploring avenues to deepen economic ties with Sri Lanka

OMAN is accelerating its efforts to attract foreign investment and sees growing opportunities for Sri Lankan businesses and professionals in tourism, manufacturing, agriculture and education, according to the country’s Ambassador’s to Sri Lanka.

- 

Ambassador Ahmed Ali Said Al Rashdi said that as part of Oman’s Vision 2040 economic transformation plan, the Sultanate continues to open up its markets in order to attract foreign investors across all sectors.

“Tourism is one of our booming sectors” he added. “In 2024, we welcomed approximately 3.9 million visitors, up from 3.7 million the year before, and the Government expects to increase arrivals by about one million each year.”

To support the growth, Oman plans to expand its infra-structure with six new airports while also upgrading Salalah and Sohar to international standards. Oman is further investing in major hotel developments in partnership with leading global brands.

Sri Lanka’s Santani Group, for instance, has partnered with Oman’s Stateowned tourism developer Omran to build two luxury resorts in Salalah and Jabal Al Akhdar near Muscat.

Foreign investors are now permitted to buy property in selected zones such as Al Mouj, Sultan Haithem City, Al Khuwair Downtown and other designated areas, where several 40 story towers are being planned.

“We are gradually opening more cities for foreign ownership,” the Ambassador said.

“This approach gives investors greater confidence in Oman’s real estate and hospitality sectors”.

Oman has also introduced a 10 year Golden Visa for investors who commit at least $ 500,000, offering residency for their families along with range of additional benefits. “This is the first time in our history that we have such a system,” the Ambassador said.