Workshop reviews Foreign Capital Investment Law
The Ministry of Commerce, Industry and Investment Promotion is working to keep pace with regional and global developments in the investment sector and to strengthen the Sultanate of Oman's position as an attractive hub for regional and international investments. This is being pursued through the development of a flexible legislative framework, well-considered incentives, and the assurance of sustainable economic growth.
In line with these efforts, the ministry, in collaboration with the Oman Chamber of Commerce and Industry, organised a workshop to evaluate and review the Foreign Capital Investment Law. The initiative is part of ongoing efforts to enhance the investment environment and attract foreign direct investment (FDI).
The workshop addressed key challenges and opportunities associated with the implementation of the law. Discussions included a review of incentives and facilitations offered to investors, aimed at generating quality employment opportunities and expanding the economic base, while also addressing existing legal gaps and attracting more high-value investments.
The session also reviewed a number of initiatives implemented in recent years, such as the launch of the 'Invest in Oman' Lounge, the reduction of commercial registration fees for foreign investors, the removal of minimum capital requirements, and the introduction of the Investor Residency Programme, which offers streamlined entry paths for investors.
Nesima bint Yahya al Balushiyah, Director-General of the Investment Services Centre at the ministry, affirmed the ministry's commitment to reviewing and improving the investment environment in line with global economic trends. She reiterated the aim of enhancing the business climate to position Oman as a preferred destination for investors.
Tahira bint Sultan al Amriyah, Director of the Business Environment Facilitation and Development Department at the Investment Services Centre, highlighted the importance of the workshop in identifying potential improvements to the business environment and addressing legislative gaps in line with market requirements and national human resource development goals.
She stressed that developing the business environment requires integrated efforts with other government entities to ensure a seamless and encouraging experience for foreign investors. — ONA
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