Muscat: In complementation of the efforts made by the government to enhance the role of the private sector in developing the national economy, the Council of Ministers meeting chaired by His Majesty Sultan Haitham bin Tarik on Sunday decided to cut down commercial registration fees for foreign investors and equate them with Omani investors.
The move is to encouraging the establishment of businesses, attract more investments and increase competitiveness in government tenders by providing an opportunity for a larger number of companies.
This will be done according to specific regulations to be determined by the authorities concerned.
On the other hand, the Council of Ministers also approved exempting companies contesting tenders from providing temporary insurance (the bidding guarantee submitted as a condition for entering the tender).
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