Latest news with #OmanBusinessPlatform
Zawya
10 hours ago
- Business
- Zawya
Business Platform project to boost Oman's investment appeal
MUSCAT- Prominent Omani firms are among a total of 12 local and international consortiums that have been qualified by the Ministry of Finance to compete for the government's prestigious contract to develop and operate the Oman Business Platform (OBP) project – a vital government e-services platform - via the Public Private Partnership (PPP) route. In the fray at this stage of the competitive bidding process are consortiums led by: Al Madina, Bahwan CyberTek, Bahwan Engineering, Business Gateways, NELTA, Nortal, PwC, Quilix, Solutions by STC (Saudi Telecom Company), SSL Software Systems, Tata Consultancy Services and World CloudTurksat. They were shortlisted from among a total of 30 companies that sought to prequalify for this first-ever initiative to build and operate a digital hub designed to deliver seamless, efficient, and integrated government services. The Ministry of Finance, in its exclusive capacity as the orchestrator of PPP projects, is overseeing the procurement process on behalf of the project owner, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). The project is one of several flagship initiatives unveiled under the latter's Digital Transformation Programme 2021-25. Launched originally as a One-Stop-Shop in 2003, the Oman Business Platform has undergone a succession of upgrades and enhancements – technological and qualitative – to serve as the government's principal digital vehicle for engagement with investors and the wider business community. 'The Oman Business Platform plays a crucial role as the central hub for business registration data in Oman, serving over 50 million records and supporting more than 36 government and private entities. This platform is vital for ensuring smooth e-government services across the country. On an average day, it handles 250,000 web service requests, processes 10,639 tasks and supports more than 50 online services and licensing-related services,' the Ministry of Finance explained in a backgrounder on the initiative. The successful vendor will be granted a 7-year contract (extendable by 1+1 year renewal periods) to operate the platform against a payment structure that includes 'both a fixed component and one or more variable components possibly related to platform revenue growth and/or transaction volume growth'. The Platform Operator will be required to enhance the platform's capability to deliver seamless, efficient, and integrated government services. 'As a digital hub for the community, the platform's enhancements will prioritise user engagement and streamlined service delivery. The vision includes refining user interfaces and improving backend systems to ensure a responsive and accessible digital environment for all users, ranging from local Omani businesses to international investors and the general public,' the Ministry of Finance added. In the next stage of the procurement process, the qualified contestants will be invited to submit proposals outlining their respective strategies for building and operating the platform. An award is anticipated before the end of this year.
Observer
4 days ago
- Business
- Observer
Business Platform project to boost Oman's investment appeal
MUSCAT, JUNE 5 Prominent Omani firms are among a total of 12 local and international consortiums that have been qualified by the Ministry of Finance to compete for the government's prestigious contract to develop and operate the Oman Business Platform (OBP) project – a vital government e-services platform - via the Public Private Partnership (PPP) route. In the fray at this stage of the competitive bidding process are consortiums led by: Al Madina, Bahwan CyberTek, Bahwan Engineering, Business Gateways, NELTA, Nortal, PwC, Quilix, Solutions by STC (Saudi Telecom Company), SSL Software Systems, Tata Consultancy Services and World CloudTurksat. They were shortlisted from among a total of 30 companies that sought to prequalify for this first-ever initiative to build and operate a digital hub designed to deliver seamless, efficient, and integrated government services. The Ministry of Finance, in its exclusive capacity as the orchestrator of PPP projects, is overseeing the procurement process on behalf of the project owner, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). The project is one of several flagship initiatives unveiled under the latter's Digital Transformation Programme 2021-25. Launched originally as a One-Stop-Shop in 2003, the Oman Business Platform has undergone a succession of upgrades and enhancements – technological and qualitative – to serve as the government's principal digital vehicle for engagement with investors and the wider business community. 'The Oman Business Platform plays a crucial role as the central hub for business registration data in Oman, serving over 50 million records and supporting more than 36 government and private entities. This platform is vital for ensuring smooth e-government services across the country. On an average day, it handles 250,000 web service requests, processes 10,639 tasks and supports more than 50 online services and licensing-related services,' the Ministry of Finance explained in a backgrounder on the initiative. The successful vendor will be granted a 7-year contract (extendable by 1+1 year renewal periods) to operate the platform against a payment structure that includes 'both a fixed component and one or more variable components possibly related to platform revenue growth and/or transaction volume growth'. The Platform Operator will be required to enhance the platform's capability to deliver seamless, efficient, and integrated government services. 'As a digital hub for the community, the platform's enhancements will prioritise user engagement and streamlined service delivery. The vision includes refining user interfaces and improving backend systems to ensure a responsive and accessible digital environment for all users, ranging from local Omani businesses to international investors and the general public,' the Ministry of Finance added. In the next stage of the procurement process, the qualified contestants will be invited to submit proposals outlining their respective strategies for building and operating the platform. An award is anticipated before the end of this year.
Arabian Stories
4 days ago
- Arabian Stories
His Majesty Sultan Haitham greets citizens, residents on Eid Al Adha
Muscat: In a statement issued by the Department of Public Relations and Security Media, the ROP informed the public that vehicles will be strictly prohibited from parking on both sides of the road extending from Al Shomoukh Fort in the Wilayat of Manah to the Sultan Qaboos Mosque in the Wilayat of Nizwa. This restriction will be in effect on the morning of Friday, June 6, 2025. Authorities have called on all drivers to comply with the directive and cooperate with on-ground police personnel to ensure public safety and prevent traffic disruptions. Read More His Majesty Sultan Haitham greets citizens, residents on Eid Al Adha His Majesty extends Eid Al Adha greetings to leaders across the Islamic world His Majesty the Sultan pardons 645 inmates on the occasion of Eid Al Adha Muttrah Square project takes flight as tender reveals iconic makeover 12 companies qualify to compete for Oman Business Platform project under public-private partnership
Gulf Business
29-04-2025
- Business
- Gulf Business
New rule for businesses in Oman: Here's what you need to know
Image credit: Getty Images The Ministry of Commerce, Industry and Investment Promotion ( Mandatory social insurance registration As reported by Read- Council of ministers' decision supports foreign investment This regulation follows a Council of Ministers' decision to reduce commercial registration fees for foreign investors and treat them similarly to Omani investors—provided they meet the requirement of hiring at least one Omani employee. Fee reductions and digital alerts On June 18, 2023, MoCIIP announced the fee reductions for foreign investment companies via its digital platforms. Eng. Ammar bin Sulaiman Al Kharousi, Director General of the Investment Services Centre at MoCIIP, noted that the commercial register now includes an alert informing investors of the employment condition one year after registration. Improving the investment environment Al Kharousi also highlighted ongoing efforts to make Oman more attractive to investors by addressing challenges faced by both local and foreign businesses. Hiring Omani nationals is expected to contribute to local economic development and improve the labor market. Enforcement through Oman Business Platform As of April 1, 2024, MoCIIP has implemented administrative restrictions on transactions through the Oman Business Platform for foreign investors who fail to meet the employment obligation within a year of registration. A grace period of 30 days—subject to extension—is granted for companies to rectify non-compliance. If the employed Omani is later dismissed, the obligation is automatically re-applied electronically, enabling MoCIIP and the Ministry of Labour to monitor compliance more effectively. Simplified investment procedures Oman's investment sector has recently undergone several reforms, allowing foreign investors to own 100 per cent of their businesses and invest in over 1,700 commercial and industrial activities. The government has also streamlined procedures by reducing, canceling, or merging 836 services.
Zawya
18-04-2025
- Business
- Zawya
Oman records nearly 14% rise in commercial registrations in 2024
Muscat: The Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) has revealed during its annual media briefing in Muscat that the cumulative number of commercial registrations in Oman increased by 13.96% in 2024, reaching 441,773 compared to 2023. The ministry highlighted a 3.6% growth in the contribution of domestic trade to Oman's GDP in 2024, amounting to over 19 billion OMR. Service activities accounted for 46.5% of the GDP. Additionally, foreign direct investments exceeded 30 billion OMR by the end of 2024, marking an increase of 4.58 billion OMR compared to the previous year. Investments in the manufacturing sector reached over 2.4 billion OMR. Oman's total trade volume with global markets exceeded 40.9 billion OMR in 2024, with commodity exports reaching 24.2 billion OMR. The ministry continues to enhance its presence in regional and global markets, focusing on GCC countries, East Asia, Africa, the Indian subcontinent, the USA, Europe, and China to promote economic diversification. In 2024, the ministry implemented 41 initiatives, completing 29, and plans to carry out 15 initiatives in 2025 across trade, industry, investment services, competition protection, and standardization sectors. Through Oman Business Platform, 827,129 transactions were processed in 2024, a 15.1% increase compared to 2023, alongside over one million automatic licenses issued since April 2021. Requests for trademarks, patents, copyrights, and industrial designs totaled 12,675 in 2024. The Sanad Service Centers completed over 1.2 million electronic transactions via 913 centers. The ministry continues to implement specialized programs targeting sectors such as wholesale and retail, construction, and manufacturing, in collaboration with the National Employment Program, Ministry of Labour, and local companies. Oman employed 18,437 citizens in these sectors in the second half of 2024. The Invest in Oman platform showcased 68 investment opportunities and processed 90 projects, with 40 valued over 1 billion OMR localized. By February 2025, Oman had issued Investor Residency Program cards to 3,407 investors from over 60 countries. The ministry also launched initiatives to improve trust in conformity assessment outputs and adopted over 1,000 new standards to boost product competitiveness internationally. Efforts to combat concealed trade were advanced alongside "Oman Exports," which connects local companies to global markets and promotes non-oil exports. During the briefing, the ministry unveiled the 'Najd Agricultural Area Guide' to attract investment in food security, 'Ishrak Window' for investor participation in reviewing regulations, and 'Tijara Channel' for enhanced public engagement. It also announced the first "Advantage Oman Forum" on April 27-28 to explore investment prospects globally and locally. The event was attended by officials including Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammed Al-Yousef and other high-ranking representatives. © Muscat Media Group Provided by SyndiGate Media Inc. ( Times of Oman
