MUSCAT: The Ministry of Commerce, Industry & Investment Promotion has launched the ‘Fast Track’ initiative, which is considered one of the main initiatives of the Invest in Oman program (the National Investment Program). The aim of this program is to accelerate the completion of a number of investment projects by supporting these projects and ensuring the proper progress of work.

Meetings are held on a weekly basis in the presence of Her Excellency Asilah bint Salem Al Samsamiah, Undersecretary for Investment Promotion and Chair of the Technical Committee of the National Investment Program and with the participation of Their Excellencies the members with competence, through which a decision is made to move forward with the implementation of the project.

Her Excellency the Undersecretary said, “Fast Track is an initiative through which we have sought to speed up the pace of completion of a number of investment projects that have come a long way during the last period and need support by providing licenses, allocating lands, signing the usufruct right, allocating or connecting energy, in addition to requests for tax exemptions.”

The first phase targeted 39 investment projects, where the executive position of 27 investment projects was completed by 100%, the total value of these projects amounting to 2,779 billion dollars, represented in the sectors of renewable energy, industry and mining, tourism, logistics and food security.