MUSCAT: A trio of electronic platforms launched by the Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) on Wednesday, will help investor community harness the power of digital technologies to enhance efficiency and embrace innovative ways of conducting business.
‘Oman Business’, ‘Hazm’, and ‘Maroof Oman’ add to a growing list of online platforms and apps rolled out in line with the digital transformation of the Omani business sector. In launching these new platforms, the overarching goal is to digitize all its services, aligning with the government's comprehensive digital transformation agenda, said a key official of the Ministry.
Mubarak bin Mohammed al Dohani, Director General of Commerce and Head of the Digital Transformation Team, highlighted the Oman Business Platform's role in directing investors to a unified business environment. The platform facilitates self-service options for starting businesses, especially catering to investors from outside the Sultanate of Oman. Al Dohani emphasized that the platform's design conforms to international standards, contributing to improving Oman's global competitiveness ranking.
The Oman Business Platform provides an impressive array of 50 electronic services for the business environment. Noteworthy among these is the "Know Your Customer" (KYC) service, allowing foreign investors to register and authenticate transactions seamlessly using biometrics, face recognition, and over 140 verification points. The Investment Guide service offers a business simulator for investors to simulate the process of opening a commercial register, providing a comprehensive overview of required documents, approvals, and fees.
Al Dohani also highlighted the platform's success, with over 800,000 transactions completed between January and November 2023. The platform is seamlessly integrated with 30 government entities for information exchange and 16 entities for licensing purposes, promoting a cohesive and efficient business ecosystem.
In parallel, the Hazm Platform and the Maroof Oman Platform were introduced to ensure the safety of products, streamline customs clearance, and create a legal and regulatory environment for e-commerce, respectively. These initiatives contribute significantly to facilitating, simplifying, and accelerating business processes, further emphasizing the Sultanate's commitment to digital innovation.
As Oman continues its journey towards a knowledge-based economy, these electronic platforms mark a step in aligning with global digital trends, fostering a competitive business environment, and attracting diverse investments. With a strong emphasis on digitalization, innovation, and regulatory compliance, MoCIIP's electronic platforms signal a transformative era for Oman's business landscape, offering a seamless and efficient experience for both local and international investors.
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