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$15 billion Oman-Kuwait petrochemicals deal
Foreign investments in the Sultanate of Oman reached a record high of 32.2 billion rials by the end of the first quarter, an increase of 8.7% compared to the same period, with nearly 63 million rials in new investments. Additionally, Oman Housing Bank launched a digital platform to facilitate mortgage applications. The Sultanate continues to enhance its diplomatic presence through an agreement to establish the headquarters of the European Union Mission. Furthermore, the Omani-Kuwaiti petrochemicals project, valued at $15 billion, is the largest joint venture between two Gulf countries. Electronic certification is contributing to the expansion of digital services across various sectors, and the plastic bag ban remains in effect in the Sultanate, with the possibility of electronic fines being revoked in Muscat.
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