MUSCAT: A report from PricewaterhouseCoopers has confirmed that the Sultanate of Oman has taken important measures to improve the business climate and attract investments.

The consulting firm also noted that the decision of the Ministry of Commerce, Industry and Investment Promotion regarding the amendment of some articles of the executive regulations of the Foreign Capital Investment Law has enhanced opportunities to attract foreign investment in the country. The law had become effective as of April 4.

In a new report published on PwC website, it was stated that the decision included facilities related to the procedures for registering foreign investment projects, licensing requirements, the benefits available for specific projects, the allocation of land for investment purposes, and the inspection of projects by the competent authority.

The report also indicated that the decision included allowing the Ministry of Commerce, Industry, Industry and Tourism for individuals, institutions and companies inside and outside Oman to promote investment opportunities, attract foreign investors and encourage them to invest in Oman.

According to the report, the decision is likely to provide great opportunities for foreign investors, by expanding the role of encouraging and attracting foreign investment, which is limited to government bodies.

The amendments that were introduced and included in the decision are part of the various steps taken by the Oman government to improve the business climate in the country, in order to make it more attractive for foreign investors to come and invest in Oman. All of which this will eventually contribute to achieving the economic development goals of the Sultanate.