Oman advances efforts to combat concealed trade
ONA:The National Team for Combating Concealed Trade held its second meeting yesterday, May 22, at the Ministry of Commerce, Industry, and Investment Promotion in Muscat to review the results of the initial audit phase on commercial registrations.
The session presented findings from a detailed desk audit, revealing notable progress in identifying unauthorized commercial activities, especially those restricted for foreign investors. Officials described these results as a clear sign of Oman's commitment to tackling illegal practices that harm the business environment.
The meeting focused on improving inspection procedures and ensuring strict compliance with laws to prevent illicit trade activities. The team reiterated its collaboration with government entities to implement a comprehensive strategy that fosters a transparent and competitive business climate supporting local and foreign investment.
Nosra bint Sultan al Habsiya, Director-General of Commerce and Chairperson of the National Team, highlighted the importance of enhanced coordination between government agencies and the private sector to detect trade violations. She outlined plans to develop monitoring tools and launch joint awareness campaigns on the risks of concealed trade and its effect on market competitiveness.
Mohammed bin Salem al Hashmi, Director of the Commercial Establishments Control Department and Head of the technical team, said the next phase will focus on refining audit methods and expanding inspections to more governorates with the involvement of all relevant sectors.
This ministerial decision is part of broader efforts to create a conducive business environment by streamlining foreign company registrations and setting clear rules for approvals and permits, in line with the Foreign Capital Investment Law.
The National Team includes representatives from ministries and authorities such as Commerce, Labour, Information, Taxation, the Central Bank, Royal Oman Police, Consumer Protection Authority, and Small and Medium Enterprises Development Authority.
The initiative responds to persistent public calls to curb concealed trade, which poses economic and social challenges across Oman.
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