logo
Challenges facing the Foreign Capital Investment Law discussed

Challenges facing the Foreign Capital Investment Law discussed

Observer10-05-2025
Muscat - The Ministry of Commerce, Industry and Investment Promotion,
in cooperation with the Oman Chamber of Commerce and Industry, organized a workshop to evaluate and review the Foreign Capital Investment Law, to enhance the investment environment and attract foreign direct investment.
The session discussed the most prominent challenges and opportunities facing the implementation of the law, in addition to reviewing the incentives and facilities provided to investors to create quality job opportunities and expand the economic base, while working to close existing legal loopholes and attract more quality investments.
The episode also reviewed many initiatives implemented over the past years, such as the opening of the 'Invest in Oman' lounge, the reduction of commercial registration fees for foreign investors, the abolition of the minimum capital requirement, and the Investor Residency Program, which provides special pathways to facilitate investor entry.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oman plans to attract OMR40 billion worth of industrial investments
Oman plans to attract OMR40 billion worth of industrial investments

Times of Oman

time2 hours ago

  • Times of Oman

Oman plans to attract OMR40 billion worth of industrial investments

Muscat: The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) is working on the execution of the Industrial Strategy 2040 and expects to increase the contribution of the industrial sector to over OMR11.6 billion by 2040. Also, the strategy is working to attract industrial investments of OMR40 billion with focus on the green industries and advanced technologies. The MoCIIP said that the manufacturing sector in the Sultanate of Oman is one of the key pillars of economic diversification efforts, as it reduces reliability on oil revenues and boosts the in-country value (ICV), besides increasing employment opportunities. The Ministry said that economic indicators show a strong performance as the manufacturing sector grew by 7.45% in 2024 to over OMR3.6 billion (at fixed prices), representing a 9.4% share of contribution to the gross domestic product (GDP). The manufacturing sector continued with its positive performance to register additional growth of 5.4% in the first quarter of 2025 compared to the same period in 2024. Regarding the foreign trade, the Ministry said that exports of non-oil goods of Oman grew by 7.2% between January and May 2025, compared to the same period in 2024, to reach OMR2.7 billion. Growing competitiveness The UAE, KSA and India, topped the list of countries importing Omani products, which shows the growing competitiveness of the national industries in the regional and international markets. The number of Omani nationals working in the industrial sector reached over 57,000 in 2024. Khalid bin Saleem Al Qasabi, Director General of industry at MoCIIP, said that the advance performance of the sector reflects the success of the industrial policies, mainly through the programmes and initiatives the ministry has launched to support industrialists and localisation of the supply chains and development of the incentives system. He said that the Ministry continues with the implementation of a package of strategic projects associated with the Industrial Strategy 2040, in addition to the plan of increasing local content in the industrial sector. He further said that the first half of 2025 saw the launch of the advanced automation centre for boosting the transformation towards the Fourth Industrial Revolution and delivery of 262 initiatives to 14 partners within the implementation plan of the Industrial Strategy 2040 among other achievements. - ONA

Manufacturing sector growth strengthens Oman's in-country value
Manufacturing sector growth strengthens Oman's in-country value

Observer

time3 hours ago

  • Observer

Manufacturing sector growth strengthens Oman's in-country value

MUSCAT: Oman's manufacturing sector remains a cornerstone of economic diversification, helping reduce reliance on oil, boost in-country value, and create jobs. The Ministry of Commerce, Industry and Investment Promotion continues to implement the Industrial Strategy 2040, aiming to raise the sector's contribution to over RO 11.6 billion by 2040, attract RO 40 billion in industrial investments, and focus on green industries and advanced technologies. Economic indicators show robust performance, with the sector growing 7.45 per cent in 2024 to over RO 3.6 billion at constant prices, representing 9.4 per cent of GDP. Growth continued into 2025, with a 5.4 per cent rise in Q1 compared to Q1 2024, reflecting strong industrial activity and an attractive investment climate. Non-oil commodity exports increased 7.2 per cent between January and May 2025, reaching RO 2.7 billion. The UAE, Saudi Arabia, and India remained the top markets for Omani goods, underlining their competitiveness in regional and global markets. Engineer Khalid bin Salim al Qassabi, Director General of Industry. In 2024, the industrial sector employed more than 57,000 Omanis, highlighting efforts to build local talent and increase Omanisation rates. Engineer Khalid bin Salim al Qassabi, Director General of Industry, said the sector's strong performance reflects the success of government policies and ministry-led initiatives to support manufacturers, localise supply chains, and offer incentives. He noted that the sector is now a hub for innovation and modern technology, attracting both domestic and foreign investors. He added that key strategic projects under the Industrial Strategy 2040 include the 'Local Content Plan in the Industrial Sector – Manufacturing,' aimed at increasing local procurement, strengthening supply chains, and supporting SMEs. Achievements in H1 2025 include the launch of the Advanced Automation Centre for Industry 4.0, delivery of 262 initiatives to 14 partner bodies, cooperation agreements with UNIDO and GOIC, and completion of strategic studies on national industrial development. In addition, 20 factories were assessed under the Smart Industrial Readiness Index (SIRI), and 55 new factories were granted National Product Identity Certificates. — ONA

Labour ministry discusses private sector challenges in Dhofar
Labour ministry discusses private sector challenges in Dhofar

Muscat Daily

time3 days ago

  • Muscat Daily

Labour ministry discusses private sector challenges in Dhofar

Salalah – The Ministry of Labour held a meeting on Wednesday at the Sultan Qaboos Youth Complex for Culture and Entertainment in Salalah to discuss key challenges facing business owners in Dhofar governorate. Organised as part of Work Forum 2025, the meeting was attended by representatives from the Oman Chamber of Commerce and Industry and the private sector. Titled 'Strategic Dialogues and Shared Visions with the Private Sector for a Sustainable Labour Market', the session focused on improving labour market tools and reviewing facilities provided to private enterprises. The discussions also covered recent regulatory developments, including updates to the labour law aimed at enhancing market stability and aligning with global standards. H E Dr Mahad bin Saeed Ba'awin, Minister of Labour, said the current phase demands faster progress in addressing existing challenges and taking advantage of emerging opportunities. He stressed the importance of supporting national human resources through employment initiatives implemented in cooperation with the private sector. Dr Ba'awin underlined the growing contribution of Dhofar's private sector, particularly in tourism, and called for expanding training programmes and entrepreneurial support in areas such as artificial intelligence and innovation. Participants also reviewed mechanisms to streamline procedures for small and medium enterprise owners, how to access available support to launch new projects, and strategies for advancing Omanisation and improving the national labour market environment.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store