Oman is on the cusp of a revolutionary economic era as it confidently moves toward its “Vision 2040.” Investing in agritech and aquaculture improves food security, creates export opportunities, and boosts GDP. Oman is well-positioned to draw foreign capital because of its strategic location, sound governance, and aggressive investment policies.
Despite the longstanding economic pillars of traditional industries like oil and gas, innovation and diversification are key to the future. This blueprint identifies five high-impact sectors with the potential to draw foreign direct investment (FDI), generate highly skilled employment, and establish Oman as a regional leader in sustainable development.
Precision Agritech And Aquaculture
There are plenty of chances to innovate in agriculture. Through the utilisation of advanced technologies in hydroponics, vertical farming, and aquaculture, Oman has the potential to revolutionise its agricultural industry. At a compound annual growth rate (CAGR) of 6.2%, the aquaculture market alone is expected to increase from USD 676.26 million in 2025 to USD 913.56 million by 2030. Agritech and aquaculture investments improve food security, create export opportunities, and boost GDP.
Renewable Energy And Green Hydrogen
Oman is positioned as a potential leader in renewable energy due to its abundance of solar and wind resources. By 2030, the country aims to produce one million tonnes of renewable hydrogen, increasing to five to eight million tonnes by 2050 as part of its green hydrogen strategy. With its significant FDI opportunities, this ambitious plan is in line with global trends towards decarbonisation. Oman can increase economic resilience by diversifying its energy exports and luring foreign investments by leveraging renewable energy.
Health And Longevity Innovation Ecosystems
Oman’s ageing population and rising health consciousness present a chance to establish itself as a centre for innovative healthcare. Investments in wellness ecosystems, specialised medical services, and telemedicine can meet the needs of local populations. Oman’s pharmaceutical industry is expected to grow significantly, reaching a value of about USD 303 million by 2024. Building a strong healthcare system not only raises living standards but also draws foreign direct investment, which boosts Oman’s competitiveness internationally and creates high-skilled jobs. Agritech and aquaculture investments improve food security, create export opportunities and boost GDP.
Smart Digital Services And SaaS
The wave of digital transformation offers Oman the opportunity to take the lead in Software as a Service (SaaS) and intelligent digital services. Through the development of cybersecurity frameworks, cloud solutions, and software products tailored to specific regions, Oman can export its expertise to clients in the GCC. This industry promises to create jobs in the tech sector and produce high-value exports. Putting money into digital services makes Oman a regional tech hub that draws in foreign capital and promotes innovation-driven economic expansion.
Eco-friendly And Niche Manufacturing
Globally, there is a growing interest in sustainable manufacturing methods. Oman can profit from this trend by creating innovations that are suitable for the desert, modular housing options, and environmentally friendly building materials. These goods align with Oman Vision 2040’s emphasis on sustainable development, as they meet domestic demand and possess significant export potential. In addition to supporting sustainable development and drawing foreign direct investment in green technologies, eco-friendly manufacturing expands Oman’s export portfolio.