MUSCAT: Oman has made significant strides in strengthening competition protection and curbing monopolistic practices, fostering a fairer business environment and boosting economic stability. Over the past five years, the number of recorded anti-competitive practices has dropped to just 14, reflecting the country’s commitment to fair market competition and consumer protection.
Ahmed bin Salem al Rasbi, Director General of the Competition Protection and Anti-Monopoly Centre at the Ministry of Commerce, Industry, and Investment Promotion, highlighted Oman's efforts to align with international best practices. "The Ministry has enhanced cooperation with global organizations such as the World Trade Organization (WTO), the European Union (EU), and the United Nations Economic and Social Commission for Western Asia (ESCWA) to strengthen competition regulations and prevent monopolistic behavior," he stated.
International partnerships have helped Oman improve key competition indicators. According to a recent ESCWA report, the Sultanate has advanced in several areas, including competition law enforcement, anti-monopoly measures, and compliance with international trade agreements. Additionally, Oman has refined its legal frameworks to facilitate mergers and acquisitions, attracting greater investment and boosting economic integration.
To further reinforce market competitiveness, the Ministry of Commerce, Industry, and Investment Promotion has been actively modernising its regulatory tools. In the first half of 2024 alone, authorities reviewed 169 cases related to competition protection. The Ministry is also rolling out digital services to streamline regulatory procedures, making it easier for businesses to comply with competition laws.
Legislative updates have played a key role in ensuring fair competition. The government has adopted modern technologies to analyse commercial data, detect anti-competitive behavior, and implement corrective measures. Studies conducted by the Ministry have resulted in actionable policies, with 80% of recommendations being implemented.
Oman’s Competition Protection and Anti-Monopoly Centre is responsible for monitoring market practices, investigating complaints, and enforcing trade regulations. The Center currently has 20 active investigations into foreign imports, some of which have resulted in final duties amounting to RO 1.5 million. Additionally, over 10 cases involve local industries suspected of engaging in monopolistic behavior. The Center also evaluates economic concentration requests and examines merger and acquisition deals to prevent excessive market dominance.
"The Ministry is committed to ensuring a transparent and competitive market," Al Rasbi affirmed. "We have put in place strict policies to combat monopolies, monitor market trends, and publish periodic reports on competition levels."
Oman’s enhanced competition framework is expected to create a more dynamic business environment, drive innovation, and improve the quality of goods and services. By reinforcing anti-monopoly measures and embracing digital transformation, the country is strengthening investor confidence and laying the foundation for sustainable economic growth. — ONA
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