Joint meeting aims to develop investment environment in Oman

Muscat: The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) organised a joint meeting with governors to complete the efforts made to develop the investment environment in the governorates of the Sultanate of Oman and work to develop the overall business environment.

During the meeting, the initiatives undertaken by the Ministry in the sectors of trade and industry, specifications and standards, investment promotion, competition protection and monopoly prevention were discussed, and the measures taken by the Ministry to facilitate the investment environment in the Sultanate of Oman and promote it to attract more foreign investments and improved incentives for the business and investment environment.

The meeting discussed a number of topics, including local community companies and the sectors they include to contribute to the development of governorates and the governance of traditional markets, and a review of the initiatives of the National Program for Investments and Export Development “Nizhar” in addition to discussing the issue of hidden trade.

These meetings emphasise the joint work and integration of the competent authorities with all governorates to achieve decentralization, which will contribute to strengthening and advancing the national economy, and involving their Highnesses, Excellencies, and Excellencies the governors in the decisions and regulations that the ministry is working on during the coming period, and learning about the governors’ visions to revitalize the governorates in all sectors.

His Excellency Qais bin Muhammad Al-Yousef, Minister of Trade, Industry and Investment Promotion, said: “These meetings come in implementation of the royal directives so that the governorates have a fundamental and pivotal role in economic development and creating an attractive investment environment by providing facilities and services provided in the governorates, continuing joint meetings, and enhancing cooperation and coordination between various government agencies.”

The meeting was attended by their Excellencies the Undersecretaries and a number of Ministry officials.