MUSCAT : Oman is moving to create a more investor-friendly business environment while accelerating the growth of its non-oil economy under directives from His Majesty Sultan Haitham bin Tarik.

The directives call for the establishment of the National Programme for Enhancing the Business Environment to Attract Investment, alongside a long-term plan aimed at strengthening the Sultanate’s non-oil trade balance.

H.E. Eng. Ghalib bin Saeed Al Maamari, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, said the two tracks complement each other by improving government services, enabling private-sector growth and strengthening Oman’s productive and export capabilities.

He said the business environment programme will cover the entire journey of investors and business owners, from company establishment, registrations, licences, permits and approvals to expansion, operations, imports, exports and other commercial, industrial and investment procedures.

The programme will also seek greater integration between government entities through improved data exchange, interconnected digital platforms and streamlined approvals. It aims to reduce the need for businesses to repeatedly submit documents or information already available with another government authority.

According to H.E. Al Maamari, the approach will focus on simplifying procedures, eliminating unnecessary requirements, re-engineering services and developing integrated digital solutions that reduce the time, effort and cost involved in completing government transactions.

The Ministry will coordinate with other government bodies and the private sector to address challenges faced by investors and businesses. The programme’s success will be assessed through improvements in the ease of doing business, shorter processing times, fewer requirements, better service quality and beneficiary satisfaction.

On the long-term plan for the non-oil trade balance, H.E. Al Maamari said Oman will focus on building a more diversified and competitive production, industrial and export base and making greater use of opportunities in regional and international markets.

The plan will include an in-depth assessment of Oman’s import structure to identify goods that could feasibly be produced locally. Such localisation could create new investment and industrial opportunities, strengthen domestic supply chains and increase local added value.

Efforts will also focus on expanding export-oriented industries, improving the competitiveness of Omani products, increasing non-oil exports and re-exports and capitalising on Oman’s strategic location, ports, logistics infrastructure and connectivity with international markets.

H.E. Al Maamari said the Ministry and relevant authorities will continue working to remove obstacles faced by exporters, help Omani products enter new markets and maximise the benefits available under Oman’s trade agreements with partner countries.

He noted that closer integration between trade, industry and investment policies would help turn import substitution opportunities into industrial projects while supporting national products in reaching overseas markets.

The initiatives are also expected to create wider opportunities for small and medium enterprises and entrepreneurs to participate in production, supply and export chains as Oman localises industries and expands its productive base.

H.E. Al Maamari said the Ministry, working with relevant authorities and the private sector, will seek to translate the Royal directives into sustainable economic results through a more efficient business environment, easier government services and a stronger industrial and export sector.

For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.