OCCI discusses the investment environment in Oman

Muscat: The Oman Chamber of Commerce and Industry organizes Ramadan evening under the title (Developing the investment environment in the Sultanate of Oman). Difficulties and challenges facing the business sector and investors in various fields.

It was sponsored by His Excellency Qais bin Muhammad Al-Youssef, Minister of Commerce, Industry and Investment Promotion, in the Invest in Oman hall at the headquarters of the Civil Aviation Authority. The evening discussed a number of axes, represented in the powers of the Ministry of Commerce and Industry, investment promotion and the ministry’s investment directions to strengthen the national economy and develop the gross domestic product, in addition to mechanisms to address the challenges of the private sector and improve the investment environment, and the results and plans of the industrial sector laboratories.

Ahmed bin Salem Al Rasbi, Director General of Investment Services at the Ministry of Commerce, Industry and Investment Promotion, explained that the Invest Hall in Oman received, during the period from February 27 to April 9 of this year, more than 1,000 visitors from different nationalities in countries of the world, indicating that the hall provides 38 different investment opportunities. In addition, 20 new services were launched on the Invest in Oman platform.

Ahmed Al Rasbi indicated that the name of the “Invest Easy” portal will be changed to “Oman Business Portal” to be a comprehensive portal that provides all electronic services to the Sultanate of Oman in the commercial business environment. For his part, Hussain bin Jamea Al-Ishaq, Chairman of the Committee of Commerce at the Oman Chamber of Commerce and Industry, touched in his paper on The retail trade sector, its importance, the challenges it faces and the opportunities available in it, pointing out that the contribution of direct retail trade in the Sultanate to the GDP is estimated at RO 3.5 billion, as it provides job opportunities of up to 300,000 jobs, which represents 80% of government sector jobs and 15% of the total jobs in the Sultanate of Oman.

Hussain bin Jamea explained that the goals that the retail sector seeks to achieve in the future in the Sultanate of Oman are to achieve a contribution of 10 billion Omani riyals in the national economy before 2040, provide three times the current job opportunities (more than one million job opportunities), and contribute to revitalizing and increasing the revenues of other economic sectors in addition to Assistance in attracting investments to the Sultanate of Oman according to Vision 2040.

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