Muscat: The Ministry of Commerce, Industry, and Investment Promotion has announced the implementation of new enhancements and facilitation measures for a variety of services offered to investors and entrepreneurs via the Oman Business Platform.
This initiative is a pivotal part of the ministry's strategy to simplify, streamline, and accelerate business transactions by revising procedures and minimizing the required documentation.
The primary objective of these enhancements is to simplify the services related to commercial activities, thereby saving time and effort for investors and business proprietors. This, in turn, enables beneficiaries to finalize their transactions more swiftly and efficiently, thereby improving the business climate in Oman and drawing in both local and international investments.
The scope of these improvements encompasses a range of services, including commercial registration, updating information in the commercial registry, and the transfer of ownership of the commercial registry. Furthermore, there have been significant improvements made to the applications for licenses and the registration of companies under the Foreign Capital Investment Law. These updates have included the streamlining of procedures and the reduction of the conditions required, thereby enhancing the user experience and facilitating faster and more effective transaction processing. In essence, these measures bolster the investment environment in Oman and attract further investments.
The ministry reaffirms its dedication to continuously evaluate and enhance the services provided, taking into account the feedback and requirements of investors, with the goal of offering a comprehensive and user-friendly experience that supports economic development and contributes to sustainable progress.
It is worth noting that during the first half of 2024, the Oman Business Platform facilitated the completion of 487,300 transactions.
