Even now, the sultanate’s economy and state revenue are still heavily dependent on oil and gas exports. As in other Gulf states, projects in Oman are heavily financed by public funds. Due to the decline in government revenues following the oil price collapse, there is an increasing tendency in the region towards more involvement of the private sector in project financing via public-private partnerships (PPP). This development offers Swiss companies interesting investment opportunities.
Even if the oil price recovers, the sultanate is aware that its oil reserves are slowly coming to an end, and this circumstance is forcing Oman to rapidly diversify its economy. The focus here lies heavily on the petrochemical and metal production sectors, with logistics and tourism among the other future industries.