Oman, also known officially as the Sultanate of Oman, is an Arab country in south west asia on the south east coast of the Arabian Peninsula.  Interestingly, it borders the U.A.E on the northwest, Saudi Arabia on the west and Yemen in the south west. It has a coast which is formed by the Arabian sea on the south and east and the Gulf of Oman on the northeast.

During a business meet organized by the Kerala Chamber of Commerce, the Chairman of the Oman Chamber of Commerce and Industry said that Oman provided a lot of opportunities for foreign investments. There were certain strategic investments in which the ownership could go to 100 % !

Another attractive feature is that not only does the corporate tax not exceed 12% but also that there is no tax for the first five years! Oman has a free trade agreement with the U.S. that helps the country to undertake export activities to the U.S. without customs duty. There is a free trade zone in Salalah and Sohar industrial area, which means that there are also a lot of facilities to the investors.

Oman, being a member of the Great Arab Trade Zone, also facilitates export of locally manufactured products to 18 Arab countries without custom duty. Because it is a member in the Indian Ocean Rim Association for Regional Cooperation, there are a lot of openings for entrepreneurs in widening markets.

Tourism constitutes less than one per cent of the GDP of Oman at present. This is the most potential area of opportunity in Oman where entrepreneurs are invited to start resorts and hotels.

Given so much potential for the opportunities in Oman, it remains to be seen who will capitalize on this market.