MUSCAT : His Majesty Sultan Haitham bin Tarik has issued three royal decrees, reflecting Oman’s continued efforts to advance infrastructure, strengthen international economic ties, and encourage foreign investments.
The first decree amends Royal Decree No. 3/2015, granting public utility status to the project for implementing the first part of the railway route linking Al Buraimi Governorate to Sohar Wilayat. This move underscores the Sultanate’s focus on developing integrated transport and logistics networks that align with the goals of Oman Vision 2040.
The second decree ratifies an agreement between the Government of the Sultanate of Oman and the Government of the Kingdom of Bahrain on the elimination of double taxation and the prevention of tax evasion and avoidance with respect to income taxes. The agreement is expected to boost cross-border trade, investment, and economic cooperation between the two Gulf nations.
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The third decree ratifies an agreement between the Government of the Sultanate of Oman and the Government of the Islamic Republic of Iran concerning the mutual encouragement and protection of investments. This step further strengthens Oman’s investment climate by providing legal frameworks that enhance investor confidence and economic collaboration with Iran.
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