MoCI shifts to global standards of ISIC4

MUSCAT: In a bid to keep pace with the world shift to the International Standard Industrial Classification of All Economic Activities (ISIC4), the Ministry of Commerce and Industry (MoCI), in collaboration with the Ministry of Manpower and Muscat Municipality, will shift to version 4 of ISIC instead of ISIC3.1. This helps in implementing the main aim of “Invest Easy” portal, which is to implement the best international practices in commercial registration. This classification has been also used as base for building the licence system at “Invest Easy” portal.

This classification has been used by the Ministry of Commerce and Industry for the first time in 2006 with the implementation of the version ‘1’ of the One Stop Station. The shift to version ‘4’ of ISIC is expected to place the Sultanate at equal bar with the rest of the world countries as the upgrading is international and not local. Using the same version of the standard classification by the public organisations will facilitate e-linking of these organisations together. From the technical point, the licence system of “Invest Easy” portal completely relies on this calcification. The licence is defined according to certain activities, therefore when the activities are standard among all public organisations, it will help in integrating the e-system and identifying the activities done by each organisation. — ONA