Oman: Majlis A'Shura reviews law to boost GCC industrial integration
Chaired by Ahmed bin Saeed al Sharqi, the meeting discussed the government-referred draft law which aims to unify industrial legislation across the Gulf bloc. Ministry officials said the proposed law is intended to stimulate industrial growth, enhance sectoral contribution to national income, attract investment and foster regional integration.
The regulation also aims to support harmonisation of industrial policies among GCC countries, encourage innovation and promote localisation of advanced technologies to strengthen competitiveness in the sector.
Committee members emphasised the need to ensure the legislation reflects Oman's local industrial context and aligns with existing national laws and regulations.
The committee also reviewed and approved two final reports during the meeting. The first addressed the state of local industries in the sultanate, assessing challenges and opportunities in the sector and its alignment with the National Industrial Strategy and Oman Vision 2040. The report recommended better policy coordination and introduction of incentive packages to support industrial growth.
The second report evaluated the competitiveness and appeal of Oman's business environment, identifying key structural obstacles and offering strategic proposals to improve the sultanate's investment climate in line with diversification goals.
Both reports were developed following consultations with experts and stakeholders from relevant sectors, in accordance with Article 59 of the Law of Council of Oman, which allows the shura to make recommendations on matters of public interest.
The committee also adopted its suggestions on Ministry of Commerce, Industry and Investment Promotion's 2023 annual report, in line with Article 55 of Law of Council of Oman, which mandates annual reporting by service ministers and allows parliamentary review and questioning.
Additionally, the committee reviewed a draft amendment to the GCC Common Customs Law, continuing its efforts to support legislative coordination in the region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
35 minutes ago
- Gulf Business
UAE fines 40 domestic worker recruitment offices for violations in H1
The Ministry of Human Resources and Emiratisation (MoHRE) has taken administrative and financial measures against 40 domestic worker recruitment offices in the UAE during H1 2025. This follows the confirmation of approximately 140 The ministry said it would not show leniency toward any recruitment office found to have committed legal or administrative violations. MoHRE warned that repeated non-compliance with regulations could lead to tougher penalties, including the potential cancellation of operating licences. In a statement on social media platform, X, MoHRE said the action comes as part of ongoing efforts to regulate the domestic labour market, boost the competitiveness and performance of recruitment offices, and respond promptly to complaints from employers and families. As part of our ongoing efforts to monitor the performance of domestic worker recruitment offices, ensure their compliance with applicable regulations and legislation, and respond swiftly to complaints from employers and families regarding the operation of these offices, 40… — وزارة الموارد البشرية والتوطين (@MOHRE_UAE) 'Continuous monitoring is carried out using both field-based and digital systems to detect and address violations, and to ensure offices are adhering strictly to applicable legislation,' the ministry said. The majority of violations were related to failure to refund full or partial recruitment fees within the legally mandated two-week period. This refund should be issued when a domestic worker is returned to the recruitment office or is reported to have stopped working. Other infringements included failure to clearly display ministry-approved service package prices to customers. MoHRE says its equipped to deal with violations MoHRE affirmed that its inspection and monitoring systems were fully equipped to deal with violations seriously and transparently, and reiterated its commitment to hearing complaints from employers. The ministry encouraged the public to report any negative practices through its digital platforms or by calling the Labour Claims and Advisory Call Centre at 80084. It also urged customers to work only with licenced recruitment offices to avoid the risk of fraudulent or unprofessional conduct. Compliant domestic worker recruitment offices praised Despite the violations, MoHRE praised the majority of domestic worker recruitment offices for complying with regulations and providing competitive services at reasonable prices. These practices, it said, support the growth and leadership of the domestic worker services sector in the UAE.
Zawya
an hour ago
- Zawya
NBO empowers businesses in Oman with seamless merchant payment solutions
Muscat: The National Bank of Oman (NBO) continues to support business owners through an integrated suite of merchant payment services designed to simplify payment acceptance, processing, and enhance customer convenience. The Bank offers a full spectrum of merchant payment solutions, including Point of Sale (POS) terminals, an E-Commerce Payment Gateway and Merchant QR Codes. These services cater to a wide range of businesses, applicable to all registered and licensed entities such as home and microbusinesses, retail stores, corporate entities, small and medium-sized entities (SMEs) and government entities. Commenting on this, Dr Ali Al Shekaili, Assistant General Manager – Head of Digital and E-Channels at NBO, said, 'As Oman's economy becomes increasingly digital, we believe it is essential to equip every business with the means to thrive. Our merchant payment solutions reflect this belief by helping businesses accept payments securely while staying competitive, connected and ready for what comes next.' The POS terminals support local and international card schemes including Visa, MasterCard, American Express, UnionPay, Discover and Diners Club. The features include POS system integration with electronic cash registers, kiosks, and vending machines. In addition, it supports converting transactions to Easy Payment Plans, paying in local currency with Dynamic Currency Conversion, paying using rewards points and real-time data synchronisation as sales data from the POS is automatically reflected in the enterprise resource planning (ERP) system, ensuring accurate inventory levels, financial records and reporting. The E-Commerce Payment Gateway supports 3D secure online payments and offers a secure and seamless checkout experience. The solution offers link payments, recurring payments, and batch payments options, as well as smart routing of transactions through a single application programming interface. E–commerce payment gateways are compatible with ERP systems, websites and mobile apps. The Merchant QR code allows customers to scan, pay and complete transactions instantly. This solution is particularly well-suited for home and microbusinesses. No terminal is required, and merchants can simply use the Merchant Static QR provided by the bank to complete transactions, providing a contactless, easy-to-use alternative to traditional payment methods. NBO's merchant payment solutions are designed to enhance accessibility and efficiency for businesses at every level. For more information, contact MerchantHelpDesk@ access the Merchant Application Form and Merchant E-Commerce Form via or contact the Call Centre on 24770000
UAE Moments
4 hours ago
- UAE Moments
Netflix & Shahid Launch Middle East's 1st Joint Subscription
In a strategic industry first, Netflix and MBC Group's Shahid have teamed up to introduce a single joint subscription package for the Middle East and North Africa (MENA), available now via MBCNOW. This ground‑breaking bundle, launched initially in Saudi Arabia, delivers Netflix's full global library—series, films, documentaries, live events, gaming—alongside Shahid's rich Arabic-language dramas, films, documentaries, and MBC's linear TV channels. Subscribers can now enjoy this hybrid package through MBCNOW, the entertainment hub launched by MBC earlier in 2025. Shahid continues as a standalone service, but the Netflix‑Shahid bundle is exclusively offered via MBCNOW. Netflix has never before offered a region-specific bundle with a local OTT service like Shahid. The deal sets a new precedent in cross-platform partnerships. Viewers get the best of both worlds—Netflix's global content (e.g., Squid Game) and Shahid's award-winning Arabic titles and live TV channels—all accessible under one roof. Consumers save over 21% compared to subscribing separately to both services. The joint subscription will be immediately available in Saudi Arabia at major retailers and online platforms. Rollout across the GCC and wider MENA region is slated for after the summer, with specific launch dates pending. MBCNOW was launched in February 2025, aiming to converge MBC's broadcast channels, Shahid, and now Netflix into one entertainment ecosystem. This milestone marks a pivotal moment in MENA's streaming landscape—merging global reach with regional storytelling in one accessible, cost-effective bundle.
