Industry & Commerce

Oman has vast natural resources that include petroleum, copper, asbestos, some marble, limestone, chromium, gypsum and natural gas. The people of Oman have been famous for the maritime skills and have long prospered on Indian Ocean trade.

Since the Renaissance in 1970, the governments extensive modernization programme has opened the country to the outside world while preserving its ancient culture and traditions. Oman is actively pursuing a development plan that focuses on diversification, industrialization, and privatization, with the objective of reducing the oil sector's contribution to GDP to 9% by 2020. Oman actively seeks private foreign investors, especially in the industrial, information technology, tourism, and higher education fields. Industrial development plans focus on gas resources, metal manufacturing, petrochemicals, and international transshipment ports.