Steps taken to boost ease of doing business in Oman highlighted

Business Wednesday 08/March/2017 23:06 PM
By: Times News Service
Steps taken to boost ease of doing business in Oman highlighted

Muscat: Panelists highlighted the steps taken to improve the ease of doing business in the Sultanate at a meeting yesterday.
They were talking at an event organised by the Ministry of Commerce and Industry in cooperation with the Implementation and Follow-up Support Unit at the Ministry’s headquarters.
Ease of Doing Business Index is a classification published by the World Bank.
The event was organised as part of the initiatives of the newly-created Finance & Investment sub-sector – one of five focus areas identified for priority development as part of the government’s National Programme for Enhancing Economic Diversification (Tanfeedh).
Represented on the panel were officials of the Unit tasked with improving the business environment Unit in Sultanate, as well as specialists drawn from various stakeholder organisations, including the Capital Market Authority, Ministry of Legal Affairs, and a number of legal and business consultancy firms.
The panelists gave an overview of the measures being considered by the Sultanate to help safeguard the interests of small investors. In this regard, the Ministry’s ‘Invest Easy’ portal was cited as an example of the superior standards and international practices embraced by the government in facilitating the speedy and convenient registration of new companies. Serving as a ‘One Stop Shop’ for new investors, the portal processes all of the applications for commercial licenses and permits requires by new businesses to set up operations in Oman.
It coordinates the processing of these applications and requisites with the government ministries and agencies concerned.