Discussion session reviews objectives of foreign capital investment law

Oman Tuesday 22/November/2022 21:51 PM
Discussion session reviews objectives of foreign capital investment law

Muscat: The Ministry of Commerce, Industry and Investment Promotion in cooperation with the Oman Economic Association organised at the Diplomatic Club a discussion session on the Foreign Capital Investment Law and its Executive Regulation.

The session is organised within the support of the views and proposals aimed to improve the investment environment in the Sultanate.

The session discussed reviewed the objectives of the foreign capital investment law, promulgated by Royal Decree No. 50/ 2019, which objective included showcasing the Sultanate of Oman as an investment destination capable of attracting foreign capital, boosting the Sultanate’s competitiveness in international indices and making simple the procedures and licences necessary for commencement of foreign investment in the Sultanate through the Investment Services Centre at the Ministry of Commerce, Industry and Investment Promotion.

The session came within the rapid changes witnessed in the business environment and within the government efforts aimed to create legislative environment attractive to investment in all fields and which serves the objectives of the Sultanate’s future outlook and boosts the competitive of the national economy at the world level.

Dr. Khalid bin Said Al Ameri, Chairman of Oman Economic Association said that the session came within requirements of the upcoming stage and for keeping abreast of the changes which occur in the business environment  since issuance of the foreign capital investment law in 2019.

He said that the Oman Economic Association would cooperate with the government sector and the private sector and assigns experts and provde the opinion on the varous economic issues and exchange information with other associations and entities. It also contributes to regulation of the rules and ethics of economic consultations profession among other issues.