MUSCAT: The Ministry of Commerce, Industry and Investment Promotion signed yesterday (Tuesday) an agreement with the Public Establishment for Industrial Estates – Madayn with the objective of presenting a framework for cooperation to facilitate investment related procedures, licenses and approvals for the investors and business owners through Madayn’s Masar Service Centres in the various industrial cities. 

The signing ceremony was attended by His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, and the agreement was signed by His Excellency Dr. Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, and Hilal bin Hamad Al Hasani, Chief Executive Officer of Madayn.

Commenting on the agreement, Ibtisam bint Ahmed Al Farooji, Director General of Investor Services at Madayn, stated that this agreement comes along the lines of the efforts undertaken by the two bodies to attract and localise investments, simplify investment procedures, strengthen cooperation in common competences, and consequently contribute to achieving comprehensive and sustainable economic and social development in coordination with the relevant bodies. 

“In this regard, Madayn established Masar Service Centre to deliver a variety of services in a fast and effective manner to achieve an attractive investment environment for local and foreign investors. With this in mind, efforts are being made to offer comprehensive services within Madayn’s industrial cities including road, electricity, water and sewage networks,” Al Farooji said.

Al Farooji elaborated that as per the signed agreement, all investment related services offered by the Ministry of Commerce, Industry and Investment Promotion will be provided through Masar Service Centres in Madayn’s various industrial cities. “This agreement is fundamental to achieve the objectives of Masar Service Centre as it presents a platform that brings together several government bodies to facilitate procedures for the investors to obtain required approvals, permits and licenses for their projects under one roof and within a specific timeframe,” she added.

Masar aims at enhancing a flexible, easy and transparent dealings between the business community and the government, and providing a reliable and secure environment for the companies to conduct day-to-day transactions with the concerned bodies. It is worthwhile mentioning that Madayn inaugurated Masar Service Centres in Al Rusayl and Suhar Industrial Cities last year, and is currently working on inaugurating Masar Service Centres in all the industrial cities during the current year.