Latest news with #CommercialAgenciesLaw
Muscat Daily
17-05-2025
- Automotive
- Muscat Daily
MoCIIP reviews hypermarket practices, vehicle pricing gaps
Muscat – Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has completed two studies aimed at enhancing consumer protection and competitiveness in Oman's retail and automotive sectors. The first study reviewed practices in the hypermarket and consumer cooperative sectors. It recommended allocating land to cooperative societies under the usufruct system in coordination with Ministry of Housing and Urban Planning. MoCIIP is also finalising an incentive package to support these cooperatives. To bolster e-commerce, the study proposed a dedicated digital platform and creation of a specialised e-commerce zone. A commercial complex for the zone is currently under development by Oman Investment Authority. Additionally, new regulations governing e-commerce were issued under Ministerial Decision No 499/2023. Measures to support small and medium enterprises include the rollout of enterprise resource planning and accounting systems by Authority for Small and Medium Enterprises Development. Seasonal promotions and discount campaigns have also been introduced to stimulate retail activity. The second study addressed pricing discrepancies in vehicles and spare parts between Oman and other GCC states. Consumer Protection Authority is expanding its price monitoring efforts and conducting regular cross-border price comparisons. To improve services in the automotive sector, MoCIIP aims to attract regional headquarters of car manufacturers by highlighting Oman's industrial and investment potential. A key recommendation, now included in the revised Commercial Agencies Law, requires authorised dealers to provide complete after-sales services – including spare parts and warranties – for all vehicles sold in the sultanate. 'These two studies are part of a broader series of regulatory and market assessments conducted in 2024,' a ministry official said. 'These include a study to strengthen the pharmaceuticals and medical supplies sector, an analysis of brand pricing differences locally and regionally, and ongoing work on anti-dumping practices.'
Times of Oman
05-04-2025
- Business
- Times of Oman
Ministry takes steps for regulating commercial agencies
Muscat: The number of new, renewed and cancelled commercial agencies during 2024 amounted to some 2,043. This included registration and renewal of hundreds of commercial agencies in addition to inspection campaigns to ensure compliance with the provisions of the Commercial Agencies Law No. 26 / 77. The Secretariat of the Commercial Registry at the Ministry of Commerce, Industry and Investment Promotion pointed out that it included 458 new agencies, 944 renewed agencies, 413 agencies with expired validity due to non-renewal and expiry of the term set forth in the Commercial Agencies Law. Yaqoob bin Shayikh Al Dhabouni, Head of the Division of Registration of Commercial Agencies at the Ministry of Commerce, Industry and Investment Promotion, said that the ministry accords due attention and care for regulating the commercial agencies sector and ensures the necessity for compliance of the local agents with renewal and updation of their agencies through Oman Business Platform as to ensure transparency in the market and the flow of goods pursuant to the applicable laws. He said that the Ministry closely follows the compliance of the agents with the provisions of the law. The necessary legal actions would be taken against the violators of the provisions of the law, he added. He also called on investors to benefit from the facilities offered to ensure compliance with the law and avoid the stipulated penalties.
