Oman maps out plan to lift non-oil trade

MUSCAT: The Sultanate of Oman is developing an integrated strategy to improve its business environment, expand domestic production and strengthen the country’s non-oil trade balance, a senior government official said.
The initiative follows Royal directives from His Majesty Sultan Haitham bin Tarik to launch a national programme aimed at making the business environment more attractive to investors and formulate a long-term plan for accelerating non-oil trade growth.
Eng Ghalib bin Said al Maamari, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, said the two directives would support Oman’s competitiveness, improve government services and broaden the country’s production and export base.
Improving the business environment would give the private sector greater scope to invest and expand, while developing industry and strengthening In-Country Value would make Omani products more competitive in international markets, he told the Oman News Agency.
The National Programme to Enhance the Investment-Attracting Business Environment will cover the entire lifecycle of economic activity, including company formation, registration, licensing, permits, approvals, operations, expansion and import and export procedures.
It will also seek to improve coordination among government bodies by connecting digital platforms, sharing data and integrating common approvals and procedures. Government bodies would reduce repeated requests for documents and information already held by other entities.
Al Maamari said the programme would simplify procedures, remove unnecessary requirements and introduce interconnected digital services, reducing the time and cost of completing government transactions.
Its effectiveness would be measured through the private sector’s experience, including shorter processing times, fewer requirements, improved service quality and higher levels of beneficiary satisfaction.
The Ministry of Commerce, Industry and Investment Promotion will work with other government bodies and the private sector to translate the directives into implementation plans, he added.
The long-term non-oil trade plan will focus on developing a more diversified and competitive industrial and export base, allowing Oman to increase exports and capture opportunities in regional and international markets.
Government bodies will examine the structure of imports to identify products that could be manufactured locally on a commercially viable basis. The approach is expected to generate investment opportunities, strengthen domestic supply chains and expand export-oriented industries.
The plan will also seek to increase domestic production, localise economically viable industries and strengthen non-oil exports and re-exports.
Oman will capitalise on its strategic location, ports, infrastructure and logistics capabilities to connect regional and international markets and expand its role as a trade and re-export centre, Al Maamari said.
Authorities will continue working to address challenges facing exporters and help Omani products enter new markets. They will also seek to turn the benefits offered by Oman’s trade agreements into commercial opportunities for domestic companies.
Al Maamari said closer integration between trade, industry and investment policies would help identify opportunities for industrial localisation, attract investment and improve market access for national products.
The strategy is also expected to create opportunities for small and medium enterprises and entrepreneurs to join production, supply and export chains.
The combined measures would support a more competitive industrial and export base, strengthen the international presence of Omani products and advance the objectives of Oman Vision 2040, he added.