Muscat: The Ministry of Commerce, Industry and Investment Promotion has issued a decision on the system of functioning of the Grievance Committee stated in the Foreign Capital Investment Law.
The decision seeks to provide assurances for the protection of foreign investment projects. It comes at a time world countries are competing to attract foreign investments and granting them incentives and security.
The Committee investigates grievances filed against decisions issued by the Ministry of authorities concerned within the context of the above-mentioned foreign capital investment law.
In this context, a grievance has to be submitted to the committee after 60 days from the date the defendant is notified or made fully aware of the claim. The procedure should be communicated through a standard model comprising all information and documents.
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