Friday, March 29, 2024 | Ramadan 18, 1445 H
clear sky
weather
OMAN
25°C / 25°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

TBY, MoCI discuss plans, innovative financial options

1090870
1090870
minus
plus

Recently, The Business Year (TBY) met Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry (MoCI), to discuss the Sultanate’s current milestones and the preparations being made by the ministry for 2018.


The main topics of discussion included the Sultanate’s aim to maintain 2.5 per cent GDP growth, the setting of cost-effective energy tariffs to meet Tanfeedh’s manufacturing plan, growth in industrial estates, and the introduction of REITs and other innovative financial options.


Government plans include easing regulation for international investors through the newly drafted FDI Law, increasing competition throughout multiple sectors of the economy, restructuring government finance, the privatisation of electricity distribution, upgrading investment platforms such as the Bayan one-stop service and the eVisa process, increasing port efficiency to reduce handling costs in Suhar and Salalah, the 100 Omani CEO Programme, which aims to prepare a new generation of leaders, oil storage, energy security and logistics in Duqm, imports, exports, and re-exports to and from Iran, an increase is tourism relations with neighbouring markets and Eastern Africa, affordable housing projects, an increase in food security, and increasing investment in cybersecurity.


All of these topics are expected to be addressed by the government in the coming months and are expected to deliver results, as prioritised in Tanfeedh’s strategy to further diversify the economy and lower dependence on oil and gas.


SHARE ARTICLE
arrow up
home icon