The tenure of the board of directors of the Oman Chamber of Commerce and Industry (OCCI) is extended for a period of six months. During this period, a new structure of the chamber will be introduced, and a new set-up will come up in its place. The period of this current board was extremely crucial given the issues it dealt with and it’s role in meeting the requirements of the changes and transition to a new era.
This was the time when the Sultanate of Oman as well as the entire world saw a huge economic crisis accompanied with a drop in oil prices, followed by the coronavirus pandemic and the implications of its preventive measures. During this extraordinary time, the OCCI played a pivotal role in representing the private sector and defended its interests wherever required. This is first line of defence of the interests of the private sector which helped many companies from going bankrupt.
During this challenging time, the OCCI continued to discuss every issue faced by the private sector entities and ensured that they would never bear the brunt of the extraordinary economic conditions. There was no pressing issue for which the OCCI’s current board of directors and its committees did not made efforts. They also worked for mobilising more investments from wherever they could to keep adding to the economic sector of the country. The chamber is now itself in the phase of transition.
This is the phase which requires that proper study and analysis is made to bring a new system and introduce a new structure. The OCCI should also be a part of the restructuring process as it understands the requirements and challenges it faces in defending the interests of the private sector. The time elections are scheduled to be held is the period of summer vacation when many will be holidaying outside the country. Therefore, it will be worthwhile to schedule these elections till the end of the year.
This will also give sufficient time to do some deliberations over its role, strengths, and weaknesses. A serious discussion is required before the process of bringing a new set-up.
It is important to highlight the role played by the OCCI as a bridge between the public and private sectors. To be more effective in future, it needs more teeth. A set of new powers, if given, it would emerge as more effective body in boosting the commerce and industrial sectors in the country. During the process, we should look into the contribution of the chamber to these sectors in the past. The experience and the lessons learnt in the past are an asset which should be utilised while giving it a new shape. There has always been a talk about a new structure of the OCCI. We must build it over the previous experience and lessons learnt during the course. We should remember that the chamber would play an extremely important role in the coming phase of economic development of the country.
The initiatives taken in the Sultanate of Oman for democratisation of its institutions have drawn accolades from everywhere. The institutions like OCCI play crucial complementary role for the government. But it requires sufficient powers to do more in an effective manner. The OCCI is the backbone of the efforts being made for industrial and commercial development of the country.
Since the chamber has representation of all industrial and commercial sectors, more powers will make it beneficial for the economic growth of the country. After all we have goals of Oman’s Vision 2040 ahead of us. For this all institutions should be empowered enough to play their role.
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