Shura Council committee holds discussion on Oman's business environment

Times of Oman

a day ago

Muscat: The Economic and Financial Committee of the Shura Council hosted HH Dr Adham Turki Al Said, Chairman of the Economic Committee at the Oman Chamber of Commerce and Industry (OCCI), and a number of specialists from the Chamber.
The meeting was part of the Committee's ongoing study of a proposal concerning the competitiveness and attractiveness of Oman's business environment, aimed at supporting economic development efforts and enhancing the investment climate in alignment with Oman Vision 2040.
The meeting took place during the Committee's 13th session of the second annual convening (2024–2025) of the Council's tenth term, chaired by Ahmed Said Al Sharqi, head of the Committee, with the attendance of other committee members.
Discussions were held on the readiness of Oman's business and investment environment, and the key factors affecting its competitiveness and attractiveness.
The Committee also reviewed OCCI's views on the Foreign Capital Investment Law (50/2019) post its -implementation, as well as the adequacy of current incentives and facilities provided to overcome obstacles facing investors.
The meeting explored the role of the Chamber in assessing Oman's business climate, highlighting recent studies and their findings on the competitiveness and appeal of Oman as an investment destination.
Key challenges were addressed, along with potential solutions and recommendations aimed at enhancing Oman's global business standing.
The members stressed the importance of improving the innovation and entrepreneurship environment by supporting start-ups and facilitating their expansion into international markets.
They also emphasized the need for effective international promotion of Oman's investment opportunities through organized marketing campaigns, and underlined the strategic importance of economic diversification, particularly by empowering sectors such as tourism and the digital economy.