MUSCAT : Speaking during a session of the Shura Council, the Minister stated that the government had identified cases where individuals exploited open investment channels, prompting a review and the implementation of new mechanisms, including mandatory Omanisation and project-specific licensing requirements.

“When the door to investment was opened, some individuals exploited the available facilities, and therefore, they were reviewed and new mechanisms were put in place,” he explained, adding that the mechanisms aim to streamline foreign investments and ensure alignment with national development goals.

Addressing the Council, His Excellency stated that new regulations require each foreign investment to obtain an individual license, with capital requirements aligned with the nature and scale of the project. A key component of the new mechanism is the mandatory Omanisation for every commercial registration.
The session also reviewed the ministry’s ongoing initiatives in industrial growth, investment attraction, and digital transformation. Discussions covered the contribution of public and private sectors to Oman’s gross domestic product, evaluations of free trade agreements, and updates on the “Nazdaher” programme.

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