Latest news with #businessenvironment
Zawya
28-05-2025
- Business
- Zawya
Oman: Ministry of Economy highlights steps to enhance business climate
Muscat: As part of its review of the proposal titled 'Competitiveness and Attractiveness of the Business Environment in the Sultanate of Oman,' the Economic and Financial Committee of the Shura Council hosted on Tuesday Dr. Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy, along with a number of specialists from the ministry. The study aims to support economic development efforts, enhance the business environment in line with Oman Vision 2040, attract investment, and diversify sources of national income. The meeting took place during the Committee's 12th session of the second annual convening (2024–2025) of the Council's tenth term, chaired by Ahmed Said Al-Sharqi, Chairman of the Committee, and attended by members. At the outset, the Undersecretary delivered a visual presentation covering global economic trends and challenges, as well as the performance of Oman's economy, including growth in both oil and non-oil sectors. The presentation also highlighted the Ministry of Economy's key efforts to improve the business climate and attract investment, outlining the main challenges facing foreign investment. The presentation identified the key pillars for enhancing Oman's investment environment, including streamlining procedures, reducing costs, offering flexible and accessible financing options that meet current global developments and investment needs, and introducing government incentives and initiatives that support and encourage investment. The meeting addressed several core topics, most notably the strategies, plans, and economic policies under the Tenth Five-Year Plan aimed at improving Oman's business environment and boosting competitiveness. It also reviewed major initiatives and projects driving economic growth and enhancing investment appeal in the Sultanate. Discussions included the latest statistics and data on Oman's business environment competitiveness in comparison with other GCC and regional countries. The meeting also touched on current efforts and future plans to strengthen Oman's global investment appeal and create a competitive work environment. Participants discussed the role of the National Competitiveness Office in improving Oman's rankings in global competitiveness indices, assessing its achievements, and examining its contributions in addressing economic challenges and proposing solutions to improve the national business environment. The meeting further explored major challenges facing the business environment in Oman, proposed measures to enhance its competitiveness and global appeal, and the ministry's insights regarding the Foreign Capital Investment Law following its implementation. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
27-05-2025
- Business
- Times of Oman
Ministry of Economy highlights steps to enhance business climate
Times News Service Muscat: As part of its review of the proposal titled 'Competitiveness and Attractiveness of the Business Environment in the Sultanate of Oman,' the Economic and Financial Committee of the Shura Council hosted on Tuesday Dr. Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy, along with a number of specialists from the ministry. The study aims to support economic development efforts, enhance the business environment in line with Oman Vision 2040, attract investment, and diversify sources of national income. The meeting took place during the Committee's 12th session of the second annual convening (2024–2025) of the Council's tenth term, chaired by Ahmed Said Al-Sharqi, Chairman of the Committee, and attended by members. At the outset, the Undersecretary delivered a visual presentation covering global economic trends and challenges, as well as the performance of Oman's economy, including growth in both oil and non-oil sectors. The presentation also highlighted the Ministry of Economy's key efforts to improve the business climate and attract investment, outlining the main challenges facing foreign investment. The presentation identified the key pillars for enhancing Oman's investment environment, including streamlining procedures, reducing costs, offering flexible and accessible financing options that meet current global developments and investment needs, and introducing government incentives and initiatives that support and encourage investment. The meeting addressed several core topics, most notably the strategies, plans, and economic policies under the Tenth Five-Year Plan aimed at improving Oman's business environment and boosting competitiveness. It also reviewed major initiatives and projects driving economic growth and enhancing investment appeal in the Sultanate. Discussions included the latest statistics and data on Oman's business environment competitiveness in comparison with other GCC and regional countries. The meeting also touched on current efforts and future plans to strengthen Oman's global investment appeal and create a competitive work environment. Participants discussed the role of the National Competitiveness Office in improving Oman's rankings in global competitiveness indices, assessing its achievements, and examining its contributions in addressing economic challenges and proposing solutions to improve the national business environment.
Zawya
22-05-2025
- Business
- Zawya
Kuwait pushes diversification, private sector growth
KUWAIT CITY - Minister of Commerce and Industry Khalifa Al-Ajeel said the government is working hard to implement ambitious economic policies aimed at restructuring the national economy, achieving diversification, facilitating the business environment, expanding participation, and raising the efficiency of the State's financial management. Al-Ajeel made the statement at the opening of the New Kuwait Economic Strategy 2025 Conference the Kuwait Direct Investment Promotion Authority (KDIPA) organized Wednesday in cooperation with The Business Year Group. KDIPA Director General Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah attended the event, with the participation of a group of economic leaders in and outside Kuwait. According to Al-Ajeel, the government recently implemented a set of laws in light of these economic policies, such as the Public Debt Law, which aims to rationalize financing tools and support the financial sustainability of the State; as well as the Real Estate Developer Law, which will propel the real estate, banking and investment sectors to new stages of growth and development. He cited the initiatives and projects that were launched recently, like the Smart License Project, Office Licenses Merger System, and amendment of the Companies Law, which reflect policies to develop and improve the business environment in the country. He emphasized that 'these government reforms are manifested in the economic indicators of the country.' He explained that before the adoption of these reforms, the gross domestic product (GDP) witnessed a remarkable four percent growth in non-oil sectors, indicating a real beginning in terms of diversifying sources of income and reducing dependence on traditional resources. He stated that 'the government is looking forward to improving these rates in 2025 and the coming years. We have a historic opportunity to move Kuwait to a new phase of growth, productivity and partnership.' Regarding foreign investment, he revealed that Kuwait has adopted measures to improve the investment environment, raise the level of transparency and strengthen legal frameworks, which contributed to a 20 percent increase in foreign direct investment inflows last year. He pointed out that the country has witnessed many international investments in different sectors such as technology, renewable energy, and infrastructure, reflecting the extent of foreign investor confidence in Kuwait as a stable and ambitious investment hub. He added that mega strategic projects like Zour Refinery, Mubarak Al-Kabeer Port and Kuwait National Railway, along with the development of smart cities and infrastructure, not only strengthen the economic structure of the country, but also establish a sustainable economy based on innovation, diversity and partnerships between the private sector and the government. He said 'The noble directives of His Highness the Amir Sheikh Meshal Al- Ahmad Al-Jaber Al-Sabah are considered the compass that guides all of us in formulating the economic policies of the State. His Highness has repeatedly emphasized that Kuwait is now facing a historic responsibility that requires serious action to build a resilient and globally open economy based on knowledge and innovation, led by the private sector, supported by the State, and confidently keeping pace with rapid regional and global developments.' He believes that the challenge today does not lie in formulating visions; but in transforming them into reality through cooperation between the public and private sectors, developing national competencies, and strengthening Kuwait's position as an influential economic and investment hub in the region. 'The government looks forward to the future with confidence and treats challenges as opportunities to move assertively toward building a new Kuwaiti economic model -- one that believes in partnership, embraces modernity, and invests in people above all else,' he concluded.
Zawya
21-05-2025
- Business
- Zawya
Kuwait: Minister Al-Ajeel, Gov't to implement economic policies to restructure nat'l economy
KUWAIT -- Minister of Commerce and Industry Khalifa Al-Ajeel affirmed on Wednesday that the government is working to implement ambitious economic policies aimed at restructuring the national economy, achieving diversification and facilitating the business environment. This came in a speech delivered by Minister Al-Ajeel during the opening of the "Kuwait New Economic Strategy 2025" conference, organized by the Kuwait Direct Investment Promotion Authority in cooperation with The Business Year Group. The one-day conference brings together a select group of economic leaders and decision-makers from various sectors. In light of these policies, a set of laws and legislation recently implemented by the government were issued, such as the Public Debt Law, which aims to rationalize financing tools and support the country's financial sustainability, as well as the Real Estate Developer Law, which will propel the real estate, banking, and investment sectors to new levels of growth and development, he added. He pointed to qualitative initiatives and projects that were recently launched, such as the "Smart License" project, the "Office Licenses Merger" system, and amendments to the Companies Law, as these policies are directly reflected in developing and improving the business environment in Kuwait. The minister emphasized, "These government reforms have had an impact on all of the country's economic indicators." Prior to any of these reforms, the GDP had witnessed a notable 4 percent growth in non-oil sectors, indicating a real beginning in diversifying sources of income and reducing reliance on traditional resources. He pointed out that the country has witnessed a significant influx of international investments into sectors such as technology, renewable energy, and infrastructure, reflecting the extent of foreign investor confidence in Kuwait as a stable and ambitious investment hub. Minister Al-Ajeel stressed that the government looks to the future with confidence, treats challenges as opportunities, and is confidently moving toward building a new Kuwaiti economic model, one that believes in partnership, champions modernity, and invests in people above all else. Speakers at the conference addressed a number of economic and strategic topics, including national efforts to revive stalled projects and accelerate the implementation of major development projects such as the Al-Zour Refinery, the National Railway, and Mubarak Al-Kabeer Port, thus strengthening infrastructure and consolidating the foundations of sustainable development. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Free Malaysia Today
17-05-2025
- Business
- Free Malaysia Today
US business chamber welcomes M'sia's Q1 economic performance
The American Malaysian Chamber of Commerce said long-term investment decisions by American companies are driven by Malaysia's global competitiveness and ability to adapt to evolving business models. (AP pic) PETALING JAYA : Malaysia's 4.4% economic growth in the first quarter of 2025 reflects resilience and a stable business environment, according to the American Malaysian Chamber of Commerce (Amcham). In a statement to Bernama, Amcham CEO Siobhan Das said the US business community continues to see Malaysia as a strategic regional hub, with current momentum supporting a positive investment outlook. She also emphasised the importance of longstanding US-Malaysia ties, noting that more American investments are expected, alongside growing Malaysian investments in the US. The US has been Malaysia's third-largest trading partner since 2015, with total trade between the two countries surging 29.9% to RM324.91 billion last year. Das said that while economic indicators like GDP are useful, long-term investment decisions are driven by Malaysia's global competitiveness and ability to adapt to evolving business models. 'Strong GDP growth boosts confidence, but what matters most to US multinationals is the ease of doing business – streamlined operations, minimal bureaucracy, and clear, consistent regulations,' said Das. 'Flexibility and regulatory simplicity are essential, especially when companies need to adjust production quickly,' she said. Bank Negara Malaysia (BNM) announced yesterday that the economy grew 4.4% in Q1 2025, supported by strong household spending, a favourable labour market and government policies. BNM governor Abdul Rasheed Ghaffour said growth was also driven by steady investment and exports, particularly in the electrical and electronic sector and tourism. Last month, the US announced tariffs on goods imported from some 60 countries, set at varying rates. Malaysia was slapped with a 24% tariff on most of its exports to the US. The tariffs were subsequently paused for 90 days to allow for trade negotiations. However, a 10% blanket duty remains in place on almost all imports into the US. On Thursday, investment, trade and industry minister Tengku Zafrul Aziz said discussions between Malaysia and the US regarding the latter's tariffs were progressing well.
