Muscat: In light of the Royal Directives issued by His Majesty Sultan Haitham Bin Tarik to initiate the Incentivisation Programme, the Financial Services Authority (FSA) of the Sultanate of Oman is scheduled to convene a press conference on Sunday, August 11th, 2024, at the Crowne Plaza Muscat. The purpose of this press conference is to reveal the intricacies of the newly launched Incentivisation Programme for the Capital Market.
Participating Key Stakeholders:
- National Programme for Fiscal Sustainability and Financial Sector Development (Estidamah)
- Ministry of Commerce, Industry and Investment Promotion
- Muscat Stock Exchange (MSX)
Focus of the Program:
This initiative is crafted to provide a variety of incentives to companies aiming to:
- Establish or transition to public joint-stock companies and list them on the MSX
- Establish a presence in a new "promising companies market" within the MSX
- Convert limited liability companies into closed joint-stock companies
Expected Outcomes:
Through the provision of these incentives, the program is set to:
- Foster the development of Oman's capital market
- Offer a broader spectrum of financing instruments tailored to the needs of various company types, including small and medium enterprises (SMEs)
- Contribute to the sustainable growth of participating companies
- Create new financing avenues to bolster company competitiveness, expansion, and development
Looking Forward:
The forthcoming press conference is anticipated to illuminate the specific details of the program's three pathways and the incentives provided under each. This announcement marks a pivotal moment for Oman's capital market and is expected to stimulate increased investment and growth among participating companies.
Possible Future Considerations:
- Assess the potential impacts of the program on different company sizes (SMEs vs. larger corporations).
- Examine the program's alignment with Oman's overarching economic development objectives.
- Investigate the potential challenges and opportunities that may arise during the program's implementation.
