On Behalf of

Business & Finance Club - Finance & Investment - Muscat: The Directorate General of Economic Statistics implements more than 12 economic surveys a year. The interval differs from one survey to the other as some of them are conducted annually, others are quarterly or monthly.

       The National Economy Ministry represented by  the Directorate General of Economic Statistics launched this April the annual survey of foreign investment which highlights the volume of direct and indirect foreign investments of foreign companies in the Sultanate and the Omani direct and indirect investment abroad.

        The foreign investment survey is being jointly undertaken by the Ministry of National Economy, the Ministry of Commerce and Industry, and the Central Bank of Oman. The objective is to create a comprehensive database that will help create sound economic policies, and contribute to Oman's economic growth.

     The survey also aims at unifying the standards for measuring the volume of foreign investments in line with the international standards such as those adopted by the IMF and World Bank. It also aims at highlighting the contribution of foreign investment in the current and future growth of the national economy.

     It also aims at identifying the distribution of the foreign investment in the Sultanate economic sector wise therefore highlighting its impact on the different sectors. It also highlight the sources of foreign investment or the geographic distribution, country wise to ensure diversifying the sources when making investment decision.

    It will also avail the required data on the impact of the foreign investment on the Omani economy in terms of labour, exports, imports, international services and the debts of the private sector. It also aims at highlighting the type of investment to ensure creating the required front and back links to develop the other sectors not of interest for the foreign investment.

    The survey covers 555 installations in the Sultanate. The sample of the survey covers three categories. The first category includes all the important installations of direct foreign investment. The second category includes instillations with investment in the portfolio and registered at MSM. The third category includes all the installations with other investments. The last one is the most important because it includes the 100% Omani installations with businesses aboard in the form of loans or investments or others.

     The aim of this survey is to collect data to prepare the national accounts such as the DGP. For the first time, the Ministry will issue its quarterly GDP in the fixed rates. This step is very advanced in the level of the country's region.

     The Ministry also collects prices from the different markets of the Sultanate to prepare the inflation indicators on monthly basis.

     The inflation indicator in the Sultanate is prepared as per the best international practices.

It should be noted that the Ministry of National Economy has shown interest in the analytical statistics as they provide additional services for all users in official, academic or private sectors levels.

      In a bid to improve the statistical practice, a new department was crated namely  'the statistical methodology and analysis' to ensure constant development of the statistical methods and keep pace with the best international practices and classifications.