MUSCAT : Oman is the first country to abolish minimum capital for investment, according to the country’s Minister of Commerce, Industry and Investment Promotion.

Addressing the media on Sunday, His Excellency Qais Mohammed Al Yousef said Oman welcomes investors with open arms. “We are the first country to abolish minimum capital for investment. We welcome investors to come to our country and we make sure they get all the support needed,” he said.

Speaking about the government’s focus on removing hidden trade the Minister had this to say: “What worried us about hidden trade is that the expatriate carries out commercial work in the name of an Omani citizen, and after his departure, the greatest burden falls on the Omani.”

The Minister also said the Sultanate has reduced the commercial registration fees for foreign investors.

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