ECONOMY : How Oman’s Economic Growth Attracts Foreign Investments


Muscat: Oman Chamber of Commerce and Industry (OCCI) has floated a specialized economic study aimed to promote the Sultanate’s competitiveness status, regionally and internationally. The study will focus on the ease of doing business and attracting investment, besides explaining the challenges facing entrepreneurship and devising scholarly solutions for the same.

The study fits with the government’s plans to activate the business sector and speed up economic diversification at a time the Sultanate is embarked on developing procedures to meet the expectations of business persons and investors. The overall aim is to keep pace with the rapidly changing national and international economic scenario, besides adding flexibility in doing business.

To this effect, Eng. Ridha Juma Al Saleh, Chairman of the OCCI, said that the study will cover the laws, legislations and procedures in the Sultanate. It will highlight the competitiveness, ease and clarity of the statutes from a regional and international point of view, he said, adding that the study will explain the incentives linked to investment across different economic sectors, as well as the Sultanate’s infrastructure (airports, seaports, etc) readied to offer services to the private sector.

Eng. Ridha explained that the study will discuss the fees, taxes vis-à-vis market volume and economic activity—all with a view to formulating the most ideal template and ways to promote the Sultanate’s international “To Do Business” ratings.

ECONOMY : How Oman's Economic Growth Attracts Foreign Investments

Eng. Ridha affirmed that the study will provide a clear understanding about the role of government and private parties in developing and improving the investment and ease of doing business climate. It will take into account all competitiveness enabling factors that might improve investment attraction and raise the Sultanate’s status in international ratings, he added.

Eng. Ridha called upon companies to come forward, conduct the study and submit it to the OCCI in accordance with the requirements stated in the announcement, bearing in mind the need to provide durable solutions that could sustain the business environment and attract investments for a long time.