Chinese firms keen on investing in Oman’s International Financial Centre: official
Chinese firms have shown “very strong interest” in investing in Oman – across the Strait of Hormuz from Iran – as they aim to tap the lucrative Middle East market while minimising risks, an Omani official said. Banks, asset managers and law firms from China were getting in touch every day to ask about setting up in the International Financial Centre Oman, a free-standing legal zone in the…
Chinese businesses are showing significant interest in investing in Oman's International Financial Centre, according to an Omani official. The country's proximity to Iran and its status as a neutral zone in the region have attracted banks, asset managers, and law firms from China. The International Financial Centre Oman, located in the capital Muscat, is set to open by early next year.
The centre aims to provide a safe and convenient location for Chinese professional service companies serving clients in the Middle East. Oman's neutrality towards major global powers, including Iran, Israel, and the US, has been a key factor in its appeal to Chinese investors. Moreover, Oman's 20-year-old free-trade agreement with the US and its tax exemptions lasting up to 50 years have further incentivized Chinese firms.
However, some experts note that Oman's level of development falls short of that of the UAE, and the country is also geographically farther from the Gulf.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
