MUSCAT: Increasing expat work permits will adversely impact the local economy, according to the Chairman of Board of Directors of Oman Chamber of Commerce and Industry (OCCI).
In a statement issued, His Excellency Redha Juma Mohamed Ali Al Saleh also pointed out that business owners will incur heavy losses. “In light of the ongoing Covid-19 pandemic, the decision to increase the work permit fees for expats will negatively affect local economic activity. Business owners will incur great losses and this situation may cause consumer concern in terms of high costs of goods and services,” he said.
Last week, the Ministry of Labour said it will increase the expat work permit fee from May.
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According to Al Saleh, in order to create more job opportunities to Omani youth, the government should expat the local economy “by encouraging and attracting investments in various economic sectors, which will produce more work fields and in different specialties.”
“We must be aware that we are heading towards uneasy economic conditions, what we have seen in terms of lifting subsidy for basic services, applying a value-added tax, lower oil prices, the repercussions of the Covid-19 pandemic, and the huge losses it caused in various economic fields and continues to this day. We must work towards reducing the complications to develop an economy managed by Omani youth,” he added.
