MUSCAT – The Ministerial Resolution No. 364/2023 amends some provisions of Ministerial Resolution No. 209/2020 defining the list of activities in which foreign investment is prohibited, and limited to Omani investors only.
The new prohibited activities are as follows:
• Operating poultry hatcheries – except for projects with large production capacity
• Beekeeping, honey and beeswax production
• Marine fishing activity
• Slaughtering and preparing poultry, rabbits and birds except for projects with large production capacity
• Printing activity using photocopiers and computers and other office machines such as photocopiers or thermal copiers
• Activity of transporting and selling non-potable water
• Renting cranes operated by a worker
• Activity of renting other construction machinery and equipment operated by a worker
• Renting construction or demolition equipment operated by a worker
• Wholesale activity of live livestock, except for projects with large production capacity
• Wholesale activity of fish and marine animals
• Wholesale activity of fish products
• Retail activity in stores specializing in meat and meat products
• Retail activity in stores specialized in fish and other seafood and its products
• Retail activity in stores specializing in natural herbs
• Retail activity in stores specialized in medicinal herbs
• Retail activity in stores specializing in birds, pets, ornamental fish and their accessories
• Towing activity, towing vehicles
• Activity of buying and selling land and real estate
• Activity of managing and renting owned real estate or leased (residential and non-residential)
• Building management activity (owned or leased)
• Property valuation activity
• Building management activity (based on a fee or contract)
• Real estate owners associations management activity
• Pet care services activity
The decision has been issued in partnership between the Ministry and the concerned government agencies, the governors and the municipal councils to update the list of activities in which it is prohibited to engage foreign investment.
The issuance of this decision is consistent with Article 14 of the Foreign Capital Investment Law issued by Royal Decree No. 50/2019, which stipulates ‘a list of activities in which it is prohibited to engage foreign investment’ shall be issued.
The decision added 25 activities within those designated for Omani investors only. The activity of ‘specialized rehabilitation centers’ and ‘rehabilitation houses’ were canceled from the list where the foreign investor can invest in, bringing the total number to 96 activities for Omanis.
As per the decision, the Omani investor can invest in all activities in which foreign investment is prohibited to ensure that projects and activities related to the national identity and Omani heritage are not affected. This list will be updated according to the circumstances of each stage to keep pace with economic developments.
The decision seeks to strike a balance between bringing in qualitative investments and encouraging entrepreneurs’ projects in light of the priority that the government attaches to empowering small and medium enterprises that enhance the Omani economy.
Article 3 also indicated that everything that contradicts this decision or contradicts its provisions shall be repealed, and Article 4 of the decision confirmed that it shall be implemented on the day following the date of its publication.