Which industries offer the most tenders in Oman?

The government has been proactively encouraging an investor-friendly space, administering policies to diversify the economy besides the Oil and Gas sector. Now, there are several growing sectors offering profitable and incentivized opportunities for foreign investors.  

The nations’s economic growth is marked by its flourishing industries, each having a plethora of tender opportunities in Oman. For companies planning to expand their footprint in the region, identifying sectors that regularly offer tenders is important. Whether you’re aiming at large-scale projects or niche markets, understanding Oman’s tender opportunities landscape can give you the edge. It has a very dynamic economy with local as well as global growth opportunities. With 100% foreign ownership nationwide, quick and seamless business setup, no personal income tax, political and economic stability and custom exemptions make Oman a business-friendly economy allowing a variety of investment opportunities for foreign investors. 

This blog highlights the key industries that dominate tender opportunities in Oman and throws light on the trends driving these opportunities -

Oil and Gas Industry

The oil and gas sector remains Oman’s topmost industry, significantly contributing to the country’s economy. As the nation continues its exploration and production efforts, the industry produces several tenders in Oman on a yearly basis. A few Oil and Gas Industry trends for tenders that are observed is that the focus is moving towards sustainable development in Oman energy. Businesses generating eco-friendly solutions, renewable energy integration, and carbon capture technologies are experiencing rising demand. 

Why the Oil and Gas Industry is still dominant - 

• Projects like enhanced oil recovery (EOR) and gas extraction initiatives create consistent demand for services, including drilling, pipeline construction, and maintenance.
• Businesses are invited to bid on contracts for the construction of refineries, storage facilities, and distribution networks.
• With the rise in use of modern and upgraded technologies, tenders for digital transformation, AI-driven monitoring, and automation solutions are on the rise.

Construction and Infrastructure

The construction industry is another supporting pillar of Oman’s economy, providing a plethora of tender opportunities. Contracts in residential, commercial, and industrial infrastructure constantly charge this sector. To bid perfectly, companies must adhere to strict rules & regulations and other technical criteria, exhibiting their expertise in large-scale projects are one of the core tender requirements in Oman in the construction sector.

Key Focus Areas - 

• Urban Development: Housing projects, shopping malls, and smart city initiatives create demand for construction services.
• Transport Infrastructure: Road networks, railways, ports, and airports require expansive investment, which leads to significant tenders in Oman.
• Tourism Infrastructure: As part of Oman’s Vision 2040, tourism infrastructure requirements like luxury resorts and heritage site development are growing.

Environmental Services and Sustainability

As the world actively moves towards sustainable energy, Oman is also following suit. The country is investing in renewable energy projects, like solar and wind energy, to multiply its energy sources and reduce carbon emissions. Oman has set a 2050 net-zero carbon emissions target. 

Inestors have the opportunity to participate in expansive renewable energy projects, technology development, and grid integration services. Oman’s dedication to use renewable energy presents a promising space for those looking to invest in the growing economy. The Sultanate is actively following sustainable development goals, making environmental services a flourishing industry for tender opportunities. Oman is seeking companies that provide energy-efficient and eco-friendly solutions. Businesses aiming at reducing carbon footprints and improving renewable energy adoption are expected to see increased opportunities.

Major Tender Areas - 

• Waste Management: Tenders for advanced and unique waste collection, recycling, and disposal solutions are becoming more frequent.
• Water Resources Management: Companies are invited to bid for desalination plants, irrigation systems, and water conservation initiatives.
• Renewable Energy Projects: Oman’s dedication to diversifying its energy mix has resulted in tenders for solar farms, wind energy projects, and green hydrogen production.

Mining and Minerals

Oman’s mining industry offers vast opportunities, supported by the country’s rich deposits of copper, limestone, gypsum, clay, silica, ornamental stones, building materials and chromite. The mining sector is the foundation of the country’s economic diversification strategy. With supportive regulatory frameworks and considerable untapped reserves, the mining industry provides expansive opportunities to investors in exploration, extraction, and processing. Oman’s dedication to sustainable mining practices guarantees long-term viability and environmental responsibility. It is estimated that the mining sector in Oman will contribute US$779 mn GDP by 2030. The government’s efforts to encourage local and international investment in mining are paving the way for tender opportunities.

What Drives Tenders in Mining?

• Exploration Activities: Companies are invited to bid on contracts for geological surveys and resource assessments.
• Processing Facilities: The development of smelting and processing plants generates tenders for equipment, labor, and technology providers.
• Export and Logistics: Tenders for port facilities, transport infrastructure, and export logistics are common in this sector.

Energy and Power Sector

While the oil and gas industry leads energy production, Oman’s wider energy sector offers several tenders for power generation, transmission, and distribution. The integration of renewables into the national grid aligns with the country’s dedication to sustainable development in Oman’s energy and power ector, boosting opportunities in this sector.

Tender Opportunities - 

• Power Plants: Construction and maintenance of gas-fired and renewable energy plants
• Transmission Lines: Projects involving high-voltage transmission lines and substations
• Smart Grids: Tenders for advanced grid management solutions and smart metering technologies

Tourism and Hospitality

Tourism in Oman is experiencing a boost, thanks to its rich cultural heritage, breathtaking landscapes, and a stable political environment. With Oman’s Vision 2040 highlighting tourism as a key catalyst for growth, the tourism and hospitality sector is witnessing significant investments. It aims to attract more tourists by enhancing the infrastructure, promoting heritage sites, and developing classy luxury resorts. Development of luxury, adventure and eco-friendly experiences are top tourism priorities. Foreign investors can benefit from this dynamic market through investments in hotels, tour operations, and other related services, thereby contributing to the sector’s expansion. Investments in the nation’s tourism sector will boost through joint ventures.  

Tender opportunities - 

• Luxury Resorts and Hotels: Projects for design, construction, and management.
• Cultural and Heritage Sites: Development and restoration of museums, forts, and other historical landmarks.
• Eco-Tourism Initiatives: Tenders focusing on sustainable tourism infrastructure.

Healthcare and Pharmaceuticals

Oman’s healthcare sector is growing at warp speed, driven by population growth and increasing demand for quality medical services. As the government invests enormously in healthcare infrastructure, companies in this sector can benefit from an abundance of tender opportunities.

Key Tender Areas - 

• Hospital Construction and Renovation: Contracts for building high quality, high tech and modern  medical facilities.
• Medical Equipment and Supplies: Obtaining advanced diagnostic tools, surgical instruments, and pharmaceuticals.
• Digital Healthcare Solutions: Tenders for telemedicine platforms, electronic health records, and AI-based diagnostics.

Oman’s favorable location, investor-friendly policies, and dedication to economic diversification make it a hub for tender opportunities. The country’s aim to encourage innovation and sustainability ensures that industries are constantly growing, creating new ways for businesses to flourish. It is loaded with opportunities across industries like oil and gas, construction, environmental services, mining, energy, healthcare, and tourism. These sectors not only enhance the country’s economy but also provide immense potential for businesses looking to expand.

As you explore Oman’s tender opportunities, partnering with accomplished organizations like Khimji Ramdas can streamline your application process, ensuring compliance with tender requirements in Oman and increasing your chances of success.