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Majlis approves economy panel study on boosting private sector
February 6, 2018 | 9:35 PM
by ONA
Dr. Saleh bin Said Masan, Head of the Economic and Financial Committee and its Rapporteur, presented the report of the study, which explained its objectives in highlighting the reality of the business environment. Photo-ONA
 
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Muscat: A study on obstacles to hindering the growth of private sector and free zones in the Sultanate, conducted by the Economic and Financial Committee, was approved by the Majlis Al Shura on Tuesday.

The study also deals with the incentives required to raise the contribution of the private sector and the free zones to the Sultanate’s Gross Domestic Product (GDP).

The study focused on the most important economic sectors and the desired partnership between the public and private sectors in government policies aimed at diversification of economic resources and the need to review and develop the appropriate legislative and legal system.

Dr. Saleh bin Said Masan, Head of the Committee and its Rapporteur, presented the report of the study, which explained its objectives in highlighting the reality of the business environment and the obstacles that limit its desired role in the economic activity in the country, in the light of the market economy policy adopted by the Sultanate, (Oman 2020), and the successive development plans prepared within its framework. The study also examined the subject of economic, free and industrial zones as the appropriate environmental pillars to attract foreign investments in the Sultanate. It also deals with the labour policies and future requirements of the labour market.



This came during the eighth ordinary session of the third annual sitting (2017-2018) of the eighth term (2015-2019) of Majlis Al Shura, which was held under the chair of Khalid bin Hilal Al Ma’awali, Chairman of Majlis Al Shura.

Majlis Al Shura also approved in its meeting the study of the Health and Environment Committee on private investment in the health sector.

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