Invest Easy portal gains popularity

Muscat: As many as 137,333 transactions were carried out electronically through the Invest Easy portal last year. These transactions were made for new registrations, renewal of commercial registries, addition of activities and changes in trade names, licenses for imports and certificates of releases and origins, according to a press release.
The ministry said that there were 15,588 e-transactions recorded in Muscat governorate, 25,884 in North Bathinah, 18,143 in Al Buraimi governorate and 19,255 in Al Dhahirah governorate. There were 168,20 e-transactions carried out in South Al Sharqiyah governorate, 17,159 in Al Dakhliya, 9,682 in Dhofar, 6,716 e- transactions in North Al Sharqiyah, 2,766 in South Al Batinah, 4,184 in Musandam and 1,128 in Al Wusta governorate. Only nine transactions were made in the General Authority for Investment Promotion and Export Development.
The ministry has pointed out that investors’ preference to use electronic services contributes to the increase in the number of transactions, speedy completion of applications, clarity in the procedures and updation of a company's entire data electronically. This also saves time and efforts as well as increases confidence among investors. The Invest Easy portal currently provides 78 services round the clock through the link www.investeasy.gov.om or though the Arabic domain of Invest Easy.
The ministry also said that the portal can detect illegal transactions, like entering incorrect information about investors and forged bank statements. Also it can uncover people who have registrations to practice hidden commercial activities, which are considered wrong practices and have negative implications on the local economy.
This portal is one of the best systems in the world in terms of commercial registration. It is innovative in processing the registration and carrying out follow-up. It has the ability to deliver all data and statistics on the movement of commercial registration in the Sultanate to the officials and decision makers of the country, through a single window.
The Ministry of Commerce and Industry urges investors to abide by the law and cooperate with government agencies to end the practice of hidden trade. The portal "Invest Easy" can block any company and the owner of the company will not be able to do any transaction with the government organisations linked with the system.