MoCIIP, Madayn sign agreement to facilitate investment

Muscat: To facilitate investment related procedures, licences and approvals for the investors and business owners through Madayn’s Masar Service Centres in the various industrial cities, an agreement was signed by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) with the Public Establishment for Industrial Estates (Madayn) on Tuesday.

The agreement was signed by Dr. Saleh Said Masan, Commerce and Industry Undersecretary and Hilal Hamad Al-Hasani, Chief Executive Officer of Madayn.

Commenting on the agreement, Ibtisam Ahmed Al-Farooji, Director General of Investor Services at Madayn, stated that this agreement comes along the lines of the efforts undertaken by the two bodies to attract and localise investments, simplify investment procedures, strengthen cooperation in common competences, and consequently contribute to achieving comprehensive and sustainable economic and social development in coordination with the relevant bodies.

“In this regard, Madayn established Masar Service Centre to deliver a variety of services in a fast and effective manner to achieve an attractive investment environment for local and foreign investors. With this in mind, efforts are being made to offer comprehensive services within Madayn’s industrial cities including road, electricity, water and sewage networks,” Al-Farooji said.

Al Farooji elaborated that as per the signed agreement, all investment related services offered by the Ministry of Commerce, Industry and Investment Promotion will be provided through Masar Service Centres in Madayn’s various industrial cities.

“This agreement is fundamental to achieve the objectives of Masar Service Centre as it presents a platform that brings together several government bodies to facilitate procedures for the investors to obtain required approvals, permits and licenses for their projects under one roof and within a specific timeframe,” she added.

Masar aims at enhancing a flexible, easy and transparent dealings between the business community and the government, and providing a reliable and secure environment for the companies to conduct day-to-day transactions with the concerned bodies.

The signing ceremony was attended by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion.