Latest news with #NationalTeamforCombatingConcealedTrade
Observer
22-05-2025
- Business
- Observer
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.
Zawya
05-05-2025
- Business
- Zawya
581 companies in Oman audited by team to combat concealed trade
Muscat: The National Team for Combating Concealed Trade has conducted audits on 581 commercial companies across three key governorates: Muscat, Dhofar, and North Al Batinah. This initiative is part of ongoing government efforts to combat concealed trade and enhance the business environment in Oman. The audits resulted in administrative actions against 410 violating establishments, while 77 companies complied with audit requirements by submitting necessary documents such as bank statements and lease agreements, raising the compliance rate to 13.2%. These governorates were selected based on high commercial record density, with Muscat registering 20,244 records, North Al Batinah 16,094 records, and Dhofar 10,290 records. Nasra bint Sultan Al Habsi, Director General of Commerce at the Ministry of Commerce, Industry, and Investment Promotion and Chairperson of the National Team for Combating Concealed Trade, emphasized that the campaign aims to eliminate illegal trade practices, enhance economic integrity, and increase tax revenues by addressing misuse of licenses and professions. The audit covered 106 regulated activities, including sectors restricted from foreign investment, except for 20 exempted activities. Some service sectors, such as dental clinics and pharmacies, are permitted for foreign investment after five years of establishment. Exempted activities include tailoring, vehicle repair, hairdressing, laundry services, flower sales, and pet care services. The National Team is implementing Ministerial Decision No. 412/2023 in collaboration with Royal Oman Police, Ministry of Labor, Consumer Protection Authority, Central Bank of Oman, Tax Authority, and SME Development Authority. Al Habsi highlighted that concealed trade negatively impacts the national economy, leading to increased commercial fraud, labor market distortions, unfair competition, and tax evasion. The team is actively monitoring the implementation of the decision through periodic evaluations, identifying activities requiring regulation, reviewing performance reports, handling complaints, and conducting field visits to ensure compliance. The campaign began with organisational framework development, specialised team formation, coordination meetings, and performance indicator establishment, followed by inspection campaigns and media awareness initiatives. The first visual presentation explaining the implementation mechanisms was prepared in November 2023, followed by the launch of an electronic form for public reporting of concealed trade cases in October 2023. Future steps will focus on continuing awareness campaigns, publishing periodic audit statistics for transparency, and monitoring the ministerial decision's implementation. The second meeting of the National Team will be held to review achievements, discuss challenges, and implement measures to strengthen enforcement and achieve campaign objectives. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
03-05-2025
- Business
- Times of Oman
581 companies in Oman audited by team to combat concealed trade
Muscat: The National Team for Combating Concealed Trade has conducted audits on 581 commercial companies across three key governorates: Muscat, Dhofar, and North Al Batinah. This initiative is part of ongoing government efforts to combat concealed trade and enhance the business environment in Oman. The audits resulted in administrative actions against 410 violating establishments, while 77 companies complied with audit requirements by submitting necessary documents such as bank statements and lease agreements, raising the compliance rate to 13.2%. These governorates were selected based on high commercial record density, with Muscat registering 20,244 records, North Al Batinah 16,094 records, and Dhofar 10,290 records. Nasra bint Sultan Al Habsi, Director General of Commerce at the Ministry of Commerce, Industry, and Investment Promotion and Chairperson of the National Team for Combating Concealed Trade, emphasized that the campaign aims to eliminate illegal trade practices, enhance economic integrity, and increase tax revenues by addressing misuse of licenses and professions. The audit covered 106 regulated activities, including sectors restricted from foreign investment, except for 20 exempted activities. Some service sectors, such as dental clinics and pharmacies, are permitted for foreign investment after five years of establishment. Exempted activities include tailoring, vehicle repair, hairdressing, laundry services, flower sales, and pet care services. The National Team is implementing Ministerial Decision No. 412/2023 in collaboration with Royal Oman Police, Ministry of Labor, Consumer Protection Authority, Central Bank of Oman, Tax Authority, and SME Development Authority. Al Habsi highlighted that concealed trade negatively impacts the national economy, leading to increased commercial fraud, labor market distortions, unfair competition, and tax evasion. The team is actively monitoring the implementation of the decision through periodic evaluations, identifying activities requiring regulation, reviewing performance reports, handling complaints, and conducting field visits to ensure compliance. The campaign began with organisational framework development, specialised team formation, coordination meetings, and performance indicator establishment, followed by inspection campaigns and media awareness initiatives. The first visual presentation explaining the implementation mechanisms was prepared in November 2023, followed by the launch of an electronic form for public reporting of concealed trade cases in October 2023. Future steps will focus on continuing awareness campaigns, publishing periodic audit statistics for transparency, and monitoring the ministerial decision's implementation. The second meeting of the National Team will be held to review achievements, discuss challenges, and implement measures to strengthen enforcement and achieve campaign objectives.
