business · SCMP

Chinese Firms Show Strong Interest in Oman's International Financial Centre

SCMP · 1 SOURCESabout 4 hours ago2 MIN

Summary

Chinese firms have shown very strong interest in investing in Oman as they seek to tap the lucrative Middle East market while minimising risks, an Omani official said. Banks, asset managers and law firms from China have been contacting the International Financial Centre Oman every day to inquire about establishing operations in the free-standing legal zone in Muscat, the Omani capital. The centre is scheduled to open by early next year.

Key Points

International Financial Centre Oman will open in Muscat, the Omani capital, by early next year
Chinese banks, asset managers and law firms are contacting the centre daily about setting up operations
Al Hussain al-Qalhati, associate director for business development, confirmed very strong interest from Chinese investors
Chinese direct investment in Oman rose from 887.3 million to 901.5 million Omani rials between end of last year and end of Q1 this year
A PwC survey found 86 per cent of Chinese enterprises were planning to expand operations in the Middle East

Why It Matters

Oman remains neutral towards Iran, Israel and the United States amid the economically destabilising war launched by the US and Israel in late February, making it an attractive safe haven for Chinese companies seeking proximity to Middle East clients . The trend reflects China's broader strategy to diversify its economic footprint in the region, with Oman's stability and neutrality providing a strategic advantage over neighbouring Gulf states.