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Oman forms office for approving projects with over OMR10m investment

Business Monday 01/February/2016 13:46 PM
By: Times News Service
Oman forms office for approving projects with over OMR10m investment

Muscat: A separate office for speeding up issuing licences for strategic investment projects with investment exceeding OMR10 million was set up by the Ministry of Commerce and Industry.
The office, in coordination with Ministry of Manpower, Ministry of Housing, Ministry of Environment and Climate Affairs, Ministry of Regional Municipalities and Water Resources, Ministry of Tourism, Municipality of Muscat, Municipality of Dhofar and Royal Oman Police, is specialised in following up issuance of licences starting from the strategic projects with initial investment exceeding OMR10 million.
Khamis Al Farsi, Director General of Commerce in the Ministry, said that the office aims to increase the size of private sector investments through the direct contact with officials from different government bodies to facilitate the issuance of investment licences. The office comes as an initial step, which will be expanded in future to include other categories, wishing that everyone cooperate with this office.
The Director General of Commerce invites Omani and foreign investors who have projects that cost over than OMR 10 million to visit the office which was opened recently in the ministry’s main building to facilitate investment procedures.