Muscat: The Shura Council's Economic and Financial Committee welcomed HH Dr. Adham Turki Al Said, Chairman of the Omani Chamber of Commerce and Industry's (OCCI) Economic Committee, along with several specialists from the chamber.
The meeting was part of the Committee's ongoing examination of a proposal on the competitiveness and attractiveness of Oman's commercial environment, which is intended to support economic development efforts and improve the investment climate in line with Oman Vision 2040.
The meeting took place during the Committee's 13th session of the second annual convening (2024-2025) of the Council's tenth term, chaired by Ahmed Said Al Sharqi, the Committee's chairman, and attended by other committee members.
Discussions focused on the readiness of Oman's commercial and investment climate, as well as the major elements influencing its competitiveness and attractiveness.
The Committee also looked at OCCI's opinions on the Foreign Capital Investment Law (50/2019) following implementation, as well as the adequacy of current incentives and resources to help investors overcome challenges.
The meeting examined the Chamber's role in evaluating Oman's business climate, with a focus on recent research and their conclusions regarding the country's competitiveness and attractiveness as an investment location.
Key challenges were identified, along with possible solutions and recommendations to improve Oman’s international corporate position.
The members highlighted the necessity of enhancing the innovation and entrepreneurship climate by supporting startups and enabling their expansion into foreign markets.
They also emphasized the necessity of effective international marketing of Oman's investment prospects through organized marketing campaigns, as well as the strategic significance of economic diversification, particularly by empowering industries such as tourism and the digital economy.
