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Muscat: The volume of trade exchange between the Sultanate of Oman and the countries of the world amounted to more than OMR 40 billion until December 2022, registering an increase of 41 percent.
The Ministry of Commerce, Industry and Investment Promotion announced this in their annual media meeting wherein the achievements of the past period and announcements regarding the plan for the current year are reviewed.
The Ministry clarifies that the name of the "Invest Easy" portal will be changed to "Oman Business Portal''. This is comprehend and provide all electronic services in the commercial business environment. It was also stated that, “The total transactions completed through the “Invest Easy” platform amounted to more than 989,000 transactions during the year 2022, an increase of 23.1 percent compared to 2021.”
The Ministry stated that the total number of investment opportunities available through the "Invest in Oman Hall" has reached 38 and that the registration procedures for 9 other opportunities are being completed.
It was also announced that, the commercial registration fees will be reduced for the foreign investors in order to treat them on par with Omani investors as per the royal directives
The application of the fee reduction comes as a continuation of the efforts made by the government to enhance the investment environment in the Sultanate of Oman and to facilitate the procedures for starting a business This is in addition to providing incentives and facilities for foreign investors to encourage them to establish various projects that support the national economy and enhance economic activity. It will also contribute to establishing business partnerships between Omani investors and business owners and their counterparts from foreign countries.
Noting that the volume of foreign investment in the Sultanate for the year 2022 amounted to more than 1.7 billion, an increase of 2.1% over the previous year.
