Construction
As the second-largest driver of non-hydrocarbons growth and the sector that employs the greatest number of people, construction plays a key role in the development of Oman’s economy. While 2017 proved to be a difficult year for the industry, forecasts suggest a return to growth in 2018 and 2019 on the back of higher oil prices and a government-supported diversification plan. For domestic contractors, high Omanisation requirements and stiff competition from international peer companies remain long-term concerns, though clear land legislation and efforts to streamline the permitting process are supporting the overall business environment.
