Muscat – The Ministry of Commerce, Industry and Investment Promotion (MoCIIP), in collaboration with Muscat Municipality, unveiled three key services on the Oman Business Platform: the rental contracts service, the financial reports service, and the interactive guide for trade names.

The initiative aims to streamline business processes, encourage investment, and bolster economic activity by fostering a business-friendly environment aligned with international best practices. These efforts are part of a broader strategy to enhance cooperation between government and private entities.

The launch ceremony, held under the patronage of Sayyid Saud bin Hilal al Busaidi, Governor of Muscat, was attended by several dignitaries, including Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, and senior officials from MoCIIP and Muscat Municipality.

Digital Transformation in Focus

During the event, Dr. Saleh bin Saeed Masan, Undersecretary for Commerce and Industry, highlighted the Ministry’s ongoing digital transformation efforts. He noted that the Oman Business Platform now integrates with 32 government agencies for data exchange and 14 entities for licensing procedures.

Dr. Masan explained that the newly launched rental contracts service simplifies the process of registering and terminating rental agreements through a single platform, in alignment with the issuance of economic activity licences. Additionally, the financial reports service enables companies to submit annual financial data electronically, while the interactive guide for trade names facilitates the selection and registration of trade names.

“These services are designed to expedite and simplify business procedures, enhancing the overall ease of doing business in Oman,” he said.

Advancing Digital Integration

His Excellency Ahmed bin Mohammed Al Humaidi, Chairman of Muscat Municipality, emphasised that these digital services represent a significant step towards innovation in Oman’s business sector. The rental contracts service, in particular, automates and digitises the entire process, reducing paperwork, minimising errors, and promoting transparency.

“This initiative aligns with the government’s directives to simplify processes and ensure digital integration with relevant entities,” Al Humaidi added, highlighting its potential to save time and effort while providing real-time data for judicial and administrative purposes.

Comprehensive Digital Ecosystem

Mubarak bin Mohammed Al Duhani, Director General of Planning at MoCIIP and Head of the Digital Transformation Team, outlined the Ministry’s efforts to establish a fully integrated digital ecosystem. The Oman Business Platform, which connects with 35 government agencies and the Oman Chamber of Commerce and Industry, has facilitated over 122,000 transactions by the end of Q3 2024, marking a 17.43% increase from the previous year.

The platform supports several ongoing initiatives, including services for intellectual property, competition protection, standardisation, and an investment dashboard, with many already operational and others in development.

Promoting Investment and Growth

Nasra bint Sultan Al Habsi, Director General of Commerce at MoCIIP, noted that by the end of Q3 2024, the Oman Business Platform had registered 446,792 commercial records. She reiterated the Ministry’s commitment to expanding electronic services to create a conducive environment for investors and businesses.

This landmark launch reflects Oman’s dedication to fostering a vibrant, digitally-driven economy that attracts investment and supports sustainable growth.

© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).