MUSCAT: The Ministry of Commerce, Industry and Investment Promotion has reviewed its operational action plan for 2022 at the annual media meeting.
The most important projects in this action plan include programs, initiatives and targeted investment sectors that contribute to the development of investments, raising GDP and focusing on economic files.
The Minister of Commerce, Industry and Investment Promotion said at the meeting that the private sector has a vital role to play in supporting Oman’s economic growth, facilitating and encouraging direct import and export through ports and providing raw materials for factories, food and basic materials.
Read More
- His Majesty Sultan Haitham to pay official visit to France on Sunday
- India’s new Ambassador to Oman presents credentials copy to Foreign Minister
- CPA raids illegal site run by expats, seizes over 3,000 prohibited goods in Oman’s North Batinah
- Oman’s OPAZ board reviews governance reforms, Madayn Vision 2040 updates at third meeting of 2026
- His Majesty Sultan Haitham sends condolences to Venezuela President over earthquake victims
HE Qais bin Mohammed al-Yousef, Minister of Trade, Industry and Investment Promotion, indicated that the ministry is seeking to develop short and long-term executive plans. These plans would frame the future work with the completion rate in 11 initiatives reaching 100 percent implementation by the Ministry in 2021.
His Excellency said in his speech, “The Sultanate of Oman is ready to invest after the completion of the infrastructure and the launch of the economic stimulus plan. There is obvious presence of investment opportunities in the industrial sector, as well as the launch of 17 opportunities in the tourism sector. There is also potential in the improvement of Oman’s credit rating and the presence of qualified Omani cadres.
With the inauguration of ‘Invest in Oman’ lounge, foreign ownership is allowed which would have a positive impact on the growth of FDI volume by 7% and 44% increase in new records.
