Over 24,000 licences approved via Invest Easy and Sanad

Muscat: The Invest Easy portal and Sanad have seen 24,664 submissions for automatic licence approval since the launch of the service on April 4 until June 2021, according to the Ministry of Commerce, Industry and Investment Promotion (MoCIIP).

The top 10 countries that utilised the new automatic licence approval service include Oman, India, Iran, Pakistan, Yemen, Syria, Bangladesh, UAE, Egypt and Iraq.

A number of investors and businessmen, who obtained the automatic licences praised the new service. They believed that this would enhance the growth and diversification of the economy.

Said bin Nasser Al Maeini said, “It is an efficient service launched by MoCIIP, in cooperation with the other government entities concerned. It allows investors to obtain a unified licence in under 24 hours."

Al-Maeini was certain that this service would facilitate local and foreign investments in Oman.

Suleiman bin Nasser Al Siyabi, another investor, shared a similar view. He called on officials and decision-makers in the government and private sector to speed up electronic transformation.

"Electronic services have become a primary requirement among investors to identify investment opportunities in Oman," he added.

A businessman, Azhar bin Salem Al Saadi stressed that such electronic services present Oman as a suitable environment for commercial and investment activities.

He said that in addition to attracting private investments, the automatic licence approval service also supports Omani exports in foreign markets.

An investor can, via this service, obtain approvals of more than 1,500 economic activities, constituting 88 per cent of all economic activity, across the sectors of agriculture and animal husbandry, fishing, manufacturing, repair and installation of machinery, equipment, devices, electrical supplies, water, construction, maintenance and repair of vehicles, and wholesale and retail, transportation and warehousing.