Decision Updates Prohibited Activities for Foreign Investment

Muscat:The Ministry of Commerce, Industry and Investment Promotion issued the ministerial decision No. (364/2023), amending some provisions of the ministerial decision No. (209/2020), which defined the list of activities in which foreign investment is prohibited while limiting them to Omani investors only. The decision stems from the partnership between the Ministry and the relevant government entities, as well as the governors of and the municipal councils, to update the list of activities in which foreign investment is prohibited, which was issued in 2020. The Ministry seeks to develop the governorates by involving them in the regulations and the decisions that aim at developing the governorates of the Sultanate of Oman. (ONA)