A Study on Attracting Local And International Investments and Improving an Integrated Logistics System Allows Local Products to Reach Global Markets

Abstract

This paper studies how local non-oil Omani products could reach global markets by attracting local and international investors and improving the integrated logistics system in Oman. Therefore, the scope of this research is investment agencies in Oman, which are the Ministry of Commerce, Industry, and Investment Promotion and the Public Authority for Investment Promotion and Export Development. This study targets the leading logistics companies in Oman, such as Asyad Group. The study used an online survey and direct interview targeting specialists and experts in investment agencies and logistics companies. The results of the research showed that challenges are facing attracting local and international investors in local industries. Those challenges are the lengthy, complicated and costly procedures to obtain permits and licenses for investors, weak promotion of investment opportunities and local products at the international level, weakness of the local market, cumbersome regulations of the government, and so on. All these challenges constitute an obstacle to attracting investments. Findings also vindicate that weaknesses in logistical performance represented by the complex export and import procedures, complications in customs clearance operations, and the weak performance of land, sea, and air transport, which constitutes a barrier to exporting local products to global markets. The primary limitations that the researchers faced in conducting this research. First, there were many complications in collecting information through interviews. Some companies refused to conduct interviews due to preventive measures for the spread of the Coronavirus, which may affect the results.