Muscat: The Ministry of Commerce, Industry and Investment Promotion (MoCIIP), in collaboration with the Ministry of Labour, Royal Oman Police, and the Tax Authority, continues to roll out the “Distinguished Companies” initiative, a national program celebrating corporate excellence and innovation across the Sultanate.

The initiative underscores Oman’s commitment to nurturing a vibrant, competitive, and innovative private sector that serves as a key driver of national growth. By recognizing companies with superior institutional, financial, and administrative performance, the program fosters a culture of excellence while encouraging businesses to adopt modern governance and operational best practices.

Mubarak bin Mohammed Al-Duhani, Director General of Planning at MoCIIP and Head of the Supervisory Team for Distinguished Companies, stated that the initiative reflects the ministry’s vision of building a flexible and competitive private sector rooted in governance, innovation, and sustainability. He noted that “Distinguished Companies” go beyond recognition, they inspire enterprises to enhance efficiency, generate quality employment for Omani youth, and strengthen their role in the nation’s economic development.

According to Al-Duhani, 5,109 companies have been classified as “distinguished” out of 352,622 registered private firms. Their exports amounted to RO 5.9 billion, 63.8% of total private sector exports — while employing 140,881 Omani nationals, accounting for 40% of the citizens working in the private sector.

Tariq bin Nasser Al-Harasi, Director of the Distinguished Companies Project, explained that classification is determined through an electronic system evaluating performance on multiple criteria such as company age, revenues, exports, Omanization levels, branch networks, and compliance with regulations. He noted that recognized companies benefit from several privileges including participation in shaping trade policies, streamlined procedures, and enhanced investor confidence.

Private sector leaders have welcomed the initiative as a milestone in Oman’s economic evolution. Mustafa bin Ahmed Salman, Board Member of the Oman Chamber of Commerce and Industry, praised the program for “cementing the private sector’s pivotal role in sustainable development and investment attraction,” adding that it encourages innovation, efficiency, and regional competitiveness.

Several top-performing companies, including Vale Oman, Gulf Agency Company (Oman), Oman Flour Mills, and Ansar, have been recognized in Category (A), the highest classification. Executives from these firms reaffirmed their commitment to innovation, sustainability, and national talent empowerment. Nasser bin Sulaiman Al Azri, CEO of Vale Oman, emphasized that the recognition reflects the company’s alignment with national industrial goals and its ongoing investments in technology and local value creation.