Oman to speed up licenses for strategic projects
Scheme targeted at investments in excess of $25 million
Oman’s Ministry of Commerce and Industry has set up a separate office to speed up the issuance of licenses for strategic projects worth in excess of $25 million, it has been announced.
Working in coordination with a number of government ministries and municipalities, the office will specialise in following up the issuance of licenses. It will work with government bodies including the Ministry of Manpower, the Ministry of Housing, the Ministry of Environment and Climate Affairs, the Municipalities of Muscat and Dhofar, and the Royal Oman Police.
According to a report by the Times of Oman, citing Khamis Al Farsi, director general of Commerce at the Ministry of Commerce and Industry, the office will aim to increase the size of private sector investments through direct contact with officials from various government bodies, which would help facilitate the issuance of investment licenses.
Setting up the office will be the initial step, and the Ministry’s plan is to expand it in the future to cover other categories, Al Farsi said, adding that he was hopeful for full cooperation with all government parties.
He also invited Omani and foreign investors that have projects worth more than $25 million to visit the office, which was opened recently in the Ministry of Commerce and Industry’s main building.
