Oman Launches Reforms to Boost Private Investment and Trade

Post by : Raina Nasser

Oman’s National Programme for the Development of the Private Sector and Foreign Trade, known as Nazdaher, has announced a wide range of reforms and projects aimed at making the country a more attractive destination for private investment and trade. The initiative supports Oman Vision 2040 by strengthening the private sector’s role in sustainable economic growth.

Khalid bin Said al Shuaibi, President of Nazdaher, said the programme’s goal is to create a strong private sector capable of competing locally and globally while integrating more effectively with international trade systems.

Phase One Success (2021–2023): The first phase focused on attracting both local and foreign investors. Nazdaher developed tools such as the National Investment Matrix to measure investments’ impact and streamlined procedures through platforms like Invest Oman, the National Investment Strategy, and the Investment Incentives Guide. Key achievements include securing RO 11 billion in targeted investments and advancing projects like the Ladayn Polymer Park, which attracted $160 million in investments to boost domestic plastic production and downstream industries.

The programme also helped secure RO 1.5 billion in investments for large-scale projects in Al Duqm and Suhar, including the Jindal Shadeed iron and steel complex and the United Solar polysilicon plant. A portfolio of 37 investment opportunities worth RO 828 million is now being promoted via Invest in Oman.

Nazdaher expanded into emerging sectors like culture and creative industries, producing three major projects and 12 initiatives aimed at developing creative skills, trade, infrastructure, and financing frameworks.

Phase Two Focus (2024–2025): The next phase will focus on private sector development, foreign trade, local value chains, and international competitiveness. Plans include developing sectoral clusters in aluminium, minerals, fisheries, agriculture, and cold-chain logistics. The programme also emphasizes standards, trade-support platforms, and governance frameworks for family businesses.

Nazdaher has also launched Oman’s Unified National Promotional Identity under Royal Patronage, showcased internationally at the World Economic Forum in Davos. This initiative, along with capacity-building workshops, aims to enhance Oman’s global investment and trade presence.

Overall, Nazdaher is transforming Oman into a competitive, investor-friendly economy while aligning projects and policies with the goals of Oman Vision 2040.