Oman

Several leading Omani banks have recently moved ahead with plans for large bond issues, with this underscoring the broader confidence in the banking sector at a time of sustained high oil prices and positive economic growth.

In an effort to meet rising domestic demand and keep the cost of imports to a minimum, Oman is looking to boost its production of natural gas. However, the levels of investment necessary to exploit the Sultanate’s difficult-to-tap reserves, means that margins may be squeezed until gas prices rise – something analysts are already predicting.

The recent opening of two hypermarkets in Oman, adding more than 33,000 sq metres of shopping space, has been a welcome boost to the retail sector, alongside new moves to protect the rights of consumers.

Oman is pushing ahead with plans to deploy a nation-wide rail network, with this excepted to boost the economy by expanding logistics capacity and linking up the Sultanate’s ports and production centres.

The Omani government is taking steps to ensure greater food security, identifying self-sufficiency in production and cost stabilisation as its major goals. With food costs on the rise throughout the region, officials hope new strategies will curb price volatility and assuage public concern over rising living expenses.

Oman’s real estate sector is slowly regaining momentum after more than a year of reduced activity. The increase in demand is being seen in a number of sectors whilst oversupply in others has resulted in weaker take-up, although this could soon be overcome as the impact of a massive government investment programme starts to be felt more acutely.