MUSCAT: The Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) hosted a meeting of governors of the different governorates of the Sultanate of Oman aimed at building partnerships to help advance environmental investments into the country.
In opening remarks, Qais Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion, underlined efforts to develop a strategic partnership with the governorates.
Also present at the meeting, held at the Grand Millennium Hotel Muscat, were Dr Saleh bin Said Masan, the Ministry's Under-secretary for Commerce and Industry; and Ibtisam Ahmed Al Farooji, the Ministry's Under-Secretary for Investment Promotion, among other officials.
The meeting was part of an ongoing effort to foster investment-friendly environments within the governorates and enrich the business landscape. Importantly, they align with the overarching vision of His Majesty Sultan Haitham bin Tarik, which seeks to empower Oman's regions to bolster the national economy and create alluring prospects for environmental investments. Furthermore, these meetings signify a commitment to collaboration and cooperation between pertinent authorities and the governorates, promoting decentralization and thereby bolstering the national economy.
The meeting was a platform for in-depth discussions on an array of subjects, ranging from commerce, industry, standards, meteorology, investment promotion, competition protection, to the prevention of monopolies. The Ministry also laid out its strategies to streamline the investment climate in Oman, making it more attractive to foreign investors and fortifying incentives for businesses and environmental investments.
In addition to the key themes, the meeting delved into the multifaceted topics of local community enterprises, sectors that contribute to governorate development, the governance of popular markets, hypermarkets, and informal trade. Another significant point of discussion was the critical initiatives within the National Program for Investment and Export Development.
Previous meetings have resulted in a spectrum of decisions and regulatory actions. These include the regulation of informal trade, the oversight of cooperative consumer activities, and permissions for the establishment of branches in various governorates throughout the Sultanate of Oman. The coordinative steps also led to the allocation of government lands for various utilizations in the governorates. Furthermore, the list of activities prohibited for foreign investment was revised to be limited exclusively to Omani investors.
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