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5 Best Businesses to Consider in Oman

Oman's robust economy provides a perfect platform for investors to start businesses. If you are an investor planning to start a company and thinking of taking a company registration license in Oman, then it's the right time to start. Here are a few best businesses in Oman one can consider to start their entrepreneurial journey.

  • Oil and Gas: Oman is primarily dependent on the oil and gas industry, which accounts for nearly 60% of the economy. Oman exports most of the Oil to countries across the globe. Oman has sufficient gas reserves to serve the local market and meet the needs of international clients. With its significant oil reserves, Oman can increase the Oil production and reach a daily output of 1 million barrels per day of crude Oil. There is a high demand for oil and gas produced from Oman in the global market. Many companies are flourishing in Oman, primarily linked with the Oil and gas sector. There are secondary services that also benefit from the Oil and gas industry, such as drilling, hydraulic fracturing, chemicals, etc. 
  • Logistics and Transportation Services: Oman has laid out a detailed plan for improving connectivity, which would benefit the logistics and transportation sector. Due to its strategic location, the sea ports give ready access to emerging Asian markets along the busy maritime trade route. Recently, there has been an emphasis on improving the road network across the country, which would connect Oman with bordering countries in the GCC. Oman has signed agreements with GCC countries, which freely allows the movement of goods to other members of GCC. International private players are making significant investments making it a good business in Oman. The foreign investment in the logistics and transportation services is helping to shape the infrastructure of the country. If you plan to register an Oman company in logistics and transportation, then it is the right time.
  • Digital Programs: The Sultanate of Oman is digitizing the economy and driving digital transformation across different sectors with an aim to make the processes transparent and more straightforward for the individual. It has designed a milestone-based roadmap for Digital transformation with a 2030 digital vision plan. The digital vision plan offers best business opportunities for firms working on next-generation technology to enter Oman's market as there is increasing demand for such services. Upon the successful testing and launching, they can be marketed quickly across the other GCC countries.
  • Agriculture: Agriculture production in Oman primarily includes dates, vegetables, and fruits. Oman is adapting advanced farming technologies, which will help meet the country's domestic demand. It is trying to reduce its dependence on exports from foreign countries and become self-sustainable to meet its domestic requirements. Hence, the Government of Oman is pushing landowners and farmers to adopt modern technologies, which would result in much better productivity and could become best business opportunity in Oman. Apart from these, the Government has updated regulations, provided loans at much lower interest rates, and run campaigns promoting locally made products, boosting the agriculture sector in Oman.
  • Travel and Tourism: Oman has become a top tourist destination in the Middle East. It also underwent a turbulent phase during COVID-19. However, the Government has launched many schemes and incentives that have helped travel and tourism business owners make their businesses more sustainable. The efforts are rejuvenating the economy and setting the stage for increased travel spending, which will result in an overall economic contribution to the economy. 

These are few suggestions of good business that have significant potential in Oman. There are many other sectors which Government of Oman are promoting to make it less dependent on Oil and Gas sector. Hence, these sectors offer lot of opportunities for the investors. We at Gryffin Capitalist can provide detailed quotes for Oman company registration costs, which would help you make a conscious decision.
 

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Jenny Doe

Jenny is an award-winning SEO consultant who specializes in using branded PR to maximize SEO results for clients by building E-A-T and has an extensive background in niche affiliate and technical SEO.