Oman announced $9 billion worth of projects involving investors from Asia, Europe, and the Middle East — a sign of how the country is proving more able than some in the region to handle the disruption caused by the Iran war.
They include a slate of 10 deals in the Duqm Special Economic Zone, with a total value of 2.9 billion riyals ($7.5 billion), including a green hydrogen project, and plants making chemicals, electric vehicle battery materials, and steel structures. The investors involved come from China, Germany, Egypt, India, and elsewhere, alongside the government and other local backers.
Separately, Future Fund Oman — an arm of the Oman Investment Authority — announced 105 projects, including ones in the medical technologies, renewable energy, and tourism sectors. They are worth a combined 583 million riyals, with around a third coming from foreign investors. Muscat also continues to pursue financial services: Sultan Haitham this week appointed board members for the International Financial Centre of Oman, which is due to launch later this year.