Oman Verifies 27,000 Business Records in Hidden Trade Campaign

Oman Suspends Violating Firms as Hidden Trade Crackdown Expands

Muscat:  The Ministry of Commerce, Industry and Investment Promotion announced the completion of the second phase of implementing the decision to combat hidden trade, targeting small and medium enterprises holding the “Riyada” card.

The Ministry stated that the phase included verifying data of 27,288 commercial records, issuing 409 administrative commitments against violating entities and temporarily suspending 45 records pending status correction. A total of 696 establishments adjusted their status in line with requirements, achieving full completion of the phase’s targets.

This phase builds on earlier efforts focused on raising awareness, improving compliance and strengthening coordination among regulatory entities, contributing to a more effective regulatory framework.

The National Team for Combating Hidden Trade continues to coordinate efforts among relevant authorities, enhance data exchange and support enforcement measures in line with legal frameworks.

Nasra bint Sultan Al Habsi, Director General of Trade at the Ministry and Head of the National Team, said that the results reflect the effectiveness of regulatory policies in improving compliance and enhancing transparency in the market.

She added that these efforts support the sustainability of economic activities and strengthen investor confidence, while aligning with the objectives of Oman Vision 2040.

Rashid bin Mohammed Al Saidi, a member of the National Team and representative of the Small and Medium Enterprises Authority, said that targeting “Riyada” card holders reflects efforts to support SMEs and ensure compliance with regulations.

Mohammed bin Salem Al Hashmi, Director of the Department of Control over Commercial Establishments, affirmed that the Ministry will continue to enhance monitoring tools, intensify awareness campaigns and enforce legal measures to reduce violations and support a fair business environment.