Muscat: The government has paid much attention to the private sector and it believes that privatisation and partnership are an economic necessity and a priority for achieving the future vision of the Omani economy and raising the wheel of development, according to His Excellency Darwish bin Ismail Al Balushi, Minister Responsible for Financial Affairs.

The minister also praised the new Royal decrees issued by His Majesty Sultan Qaboos bin Said on Monday promulgating Laws of Bankruptcy, Public-Private Partnership, Privatisation and Foreign Capital Investment.

“The government has paid much attention to the private sector and has been the focus of its attention since the dawn of the Blessed Renaissance, the Minister said. 

“The establishment of the Public Authority for Privatisation and Partnership is a step forward to allow the private sector to move market forces and competition, improve operational efficiency, provide financing needs, encourage foreign investment, and attract technical expertise.