Invest Easy Portal to be changed to ‘Oman Business Portal’: MoCIIP

Muscat: The Ministry of Commerce, Industry and Investment Promotion (M0CIIP) is holding its yearly press conference to review its performance in 2022 and unveils plans for the current year.

The meeting will cover the ministry’s initiatives and endeavors in commerce, industry, standards and specifications, investment promotion, competition protection and anti-monopoly efforts. It will also emphasize the Ministry’s partnership with public and private sector entities to streamline the investment environment in the Sultanate of Oman and promote it to encourage foreign investments, in addition to highlighting improved incentives for business and investment.

The Ministry aims to create a business atmosphere that promotes a knowledge-based economy and an attractive investment climate by providing the necessary facilities and raising the quality of services provided.

During the media meeting, the ministry will highlight its participation in the G20 forum and display the new brand identity of the Omani product.

Highlights:

The Invest Easy platform witnessed the launch of more than 20 new services in 2022.

A study was conducted to review the differences in the prices of vehicles and spare parts, in addition to study of the competition in the retail sector.

The number of people with investor residence card holders reached 1,600 as of March 2023, and the number of automatic licenses increased by 66.4% to 203,591 in 2022 compared to 135,038 in 2021.

The request for new commercial signboards has been listed under one service called “license request for commercial activities” with a fee of 15 Omani Rials, to be paid once when submitting the application.

The name of Invest Easy Portal will be changed to ‘Oman Business Portal’, which will be a comprehensive platform for providing all kinds of electronic services in an ideal business environment.

The volume of trade between the Sultanate of Oman and its various countries reached more than RO 40 billion, an increase of 41 percent, and the total merchandise exports of the Sultanate of Oman were more than RO 25 billion until December 2022.

The total transactions completed through the Invest Easy platform reached more than 989,000 in 2022, an increase of 23.1 percent compared to 2021.

There was an increase in the contribution of domestic trade to the GDP from most economic activities at current prices, including the services sector by 9.7%. The contribution of the manufacturing and industries sector to the GDP in September 2022 was around RO 3.5 billion. The industrial sector grew by 28.6%, while the manufacturing sector grew by 65.6%.

Investing in the private education sector

The Ministry has launched a package for private education-relaed online services through ‘Invest Easy portal’, in cooperation with the Ministry of Education and the municipalities sector in various governorates.

The online services available on the Invest Easy portal for the private school education sector (private schools) include the following:

Registration of a private school for early education (kindergarten)

Private schools.

Private international schools.

Foreign schools (for communities)

The private school for early education (kindergarten – the Holy Quran School).

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