Commercial Registration Fees Cut Down Opens New Horizons for foreign investors in Oman

OCCI
OCCI

Muscat: The Oman Chamber of Commerce and Industry affirmed that the decisions of the Cabinet meeting chaired by His Majesty Sultan Haitham bin Tarik, regarding the reduction of commercial registration fees for foreign investors and equate them with Omani investors, according to specific regulations to be determined by the authorities concerned. It will open great horizons for foreign investors, which will encourage them to establish various projects that supplement the national economy and enhance the economic activity of the Sultanate of Oman.

Faisal bin Abdullah Al-Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, said: “The decision constitutes a positive factor for the Omani investor in addition to Omani business owners in terms of cooperation with foreign investors, which in turn contributes to the establishment of commercial partnerships between Omani investors and business owners and their counterparts from brotherly and friendly countries.”.

His Excellency explained that providing facilities to foreign investors will make the Sultanate of Oman witness a large and attractive economic movement, as the Sultanate of Oman has an economic environment capable of attracting investments, and it also encourages investors to invest in the various governorates of the Sultanate of Oman due to its elements, such as the strategic location of the Sultanate and the presence of ports, airports and economic zones in the Sultanate. Which plays an important role in attracting investors.

His Excellency appreciated the Council’s decisions on exempting the declining companies from providing temporary insurance (bid guarantee) as a condition for entering the tender, indicating that the decision will facilitate business owners to direct financial liquidity to develop their companies until the name of the company for which the tender has been awarded is announced without holding back its funds for a long period. The decision encourages competitiveness and motivates Omani business owners to enter into competition in various tenders that contribute to the development of their companies by awarding tenders to them. On the other hand, it opens the door for them to engage in various projects that give them various experiences for development.

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