The Ministry of Commerce, Industry, and Investment Promotion (MOCIIP) launched a few investment opportunities in the tourism and waste management sectors at Oman Convention and Exhibition Center today.
Asila bint Salem al Samsamiya, Undersecretary, MOCIIP, said that six investment opportunities in the tourism sector will be offered to the tune of RO974 million, while 12 opportunities worth RO528 million will be offered in the waste management sector.
The announcement was made in the presence of Salem bin Mohammed al Mahrouqi, Minister of Heritage and Tourism, officials, ambassadors, and representatives of several private sector companies, businessmen, and investors.
This launch is part of the ministry’s initiatives to find investment opportunities in various sectors, in partnership with the Muscat National Development and Investment Company (ASAS), the Omani Tourism Development Company (Omran), the Omani Environmental Services Holding Company (Bee’ah), and the Jabal Busher Heights Real Estate Development Company, where some investment opportunities are available for feasibility studies. and market assessment studies.
According to Omran Group, the most prominent tourist projects under development are Madinat al Irfan, Hay al Sharq with a total area of 1.6 million sqm, and Musandam Adventure Project with an area of 275,000 sqm, and the Yiti tourism project with an 11 million sqm.
Through these initiatives and plans, the ministry aims to attract qualitative investments in the sectors of economic diversification, create an appropriate environment for the success and development of all investments, and empower the private sector to invest.
The investment opportunities will also be published through the Invest in Oman platform, and those wishing to invest can enter via https://investinoman.om/ and register. They can also access 72 other investment opportunities on that platform.
The Sultanate has made many facilities to bring investment to the Sultanate of Oman, including updating the foreign capital investment law, allowing 100% ownership, and many incentives and guarantees for the foreign investor.
An investor residence program for investment in the Sultanate was launched for periods ranging from 5 to 10 years, subject to extension as per procedures.