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Oman Latest News : Oman not to deal with law breaking 100 foreign companies

Oman not to deal with law breaking 100 foreign companies

Oman's Ministry of Commerce and Industry (MoCI) has suspended 100 foreign investment companies and decided not to deal with them

Oman Latest News : Oman not to deal with law breaking 100 foreign companies

TAS News Service

info@thearabianstories.com

Monday, June 10, 2019

Muscat: Oman’s Ministry of Commerce and Industry (MoCI) has suspended 100 foreign investment companies and decided not to deal with them in all entities associated with the Invest Easy Portal, as they did not comply with the rules and laws of foreign investment.

According to the Oman news agency, the suspension will continue until they adhere to the Foreign Investment Law in force in the Sultanate.

Director General of Commerce Mubarak bin Mohammed Al Dhonai explained that the number of foreign investment companies till the end 2018 stood at 10,392 companies.

He affirmed that the ministry continues to provide facilities to all local and foreign institutions and companies, attract investments to the Sultanate and transfer its services to electronic services that enable the investor to complete his transactions electronically without coming to the ministry.

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