Cybersecurity investment targeted with 6 strategic projects - Muscat Daily

Monday, June 15 12:07 AM Subscribe E-paper Cybersecurity investment targeted with 6 strategic projects 14 JUN 2026 BY OUR CORRESPONDENT Muscat – Cybersecurity is being positioned as a key engine of economic diversification, with a new government report identifying six high-potential investment opportunities and outlining an ambitious roadmap to establish the sultanate as a regional hub for digital security and innovation. According to the report titled ‘Cybersecurity Market and Investment in the Sultanate of Oman 2026’, cybersecurity has evolved beyond a defensive necessity into a strategic growth sector capable of attracting investment, fostering innovation and creating high-value employment. Among the flagship opportunities is an artificial intelligence-powered Security Operations Centre (AI SOC) planned in Muscat with an estimated investment of US$10mn. The facility is expected to serve between 200 and 400 organisations and tap into a global market projected to reach US$93.75bn by 2030. The report also proposes establishing a quantum cybersecurity centre requiring investments of US$5mn to US$15mn, targeting a market forecast to expand from US$1.5bn in 2023 to US$8.8bn by the end of the decade. Other projects under consideration include a US$19.5mn Cybersecurity-as-a-Service (CaaS) platform aimed at supporting more than 141,000 small and medium enterprises, regional cyber firewall laboratories in Muscat and Suhar serving the Middle East and East Africa, a data recovery and secure electronic device disposal laboratory, and development of the domestic cyber insurance industry. The report highlights Oman’s competitive investment environment, citing incentives such as full foreign ownership for eligible projects, corporate tax exemptions of up to 25 years in free and industrial zones, zero personal income tax, unrestricted repatriation of capital and profits, and free trade agreements with the United States and Singapore. It also points to streamlined licensing procedures and specialised economic zones that support technology-driven industries. Looking ahead, Oman’s 2026–2030 strategy seeks to strengthen the country’s cybersecurity ecosystem through strategic pillars focused on capacity building, market development, investment promotion, partnerships, digital trust and sector integration. The report also forecasts steady market expansion, with Oman’s cybersecurity market expected to grow from US$135.33mn in 2025 to US$146.12mn in 2026 before reaching US$214.27mn by 2031, representing a compound annual growth rate of 7.97%. Growth is expected to be driven by Vision 2040 initiatives promoting ‘security by design’ across public sector projects, increased digitalisation by businesses, and data residency requirements that are encouraging investment in domestic data centres, sovereign cloud infrastructure and managed security services. Flagship projects: $10mn AI Security Operations Centre (AI SOC) $5mn–$15mn Quantum cybersecurity centre $19.5mn Cybersecurity-as-a-Service (CaaS) platform Regional cyber firewall labs Data recovery and secure electronic device disposal lab Development of domestic cyber insurance industry Work begins on iconic Muttrah Square project CONTINUE READING