Muscat: The ‘Invest in Oman’ hall, which is set to be inaugurated on Monday, is expected to serve as the one-stop shop for foreign investors who are looking for opportunities in the Sultanate of Oman.
The hall is expected to provide a boost to the business environment as it will introduce the prospective investors to the investment environment, incentives, industrial, free and economic zones.
Set up by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) the ‘Invest in Oman’ hall is aimed at attracting foreign investments to the Sultanate of Oman.
The ‘Invest in Oman’ hall will be inaugurated by Sultan bin Salem Al Habsi, Minister of Finance, in the presence of dignitaries and a large number of investors from inside and outside Oman.
The establishment of the ‘Invest in Oman’ hall aims to stimulate climate for local and foreign investors. It will be the first reference for the investor through which he can complete all procedures and requirements for establishing, operating and finalising investment procedures in Oman.
The hall will contribute in serving as a bridge between the government and private sectors. It will provide a national database for investors with an integrated and researched investment map, to help Oman emerge as one of the best investment destinations.
A number of project and investment opportunities will be presented at the inauguration ceremony of the ‘Invest in Oman’ hall. Details of each project, in addition to procedures and licences related to doing business will be highlighted. The proposed projects will be supported by an electronic platform that would track the progress. There will also be a call centre that would work to receive inquiries and complaints.
A new website ‘Invest in Oman’ was recently launched. It was designed to comply with the requirements and data of investment marketing.
Ibtisam bint Ahmed Al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion, said: “The ministry is working to facilitate and develop the business environment to enhance the position of the Sultanate of Oman as a fertile environment for business and investment growth. We aim to make Oman a leading destination by attracting investors and entrepreneurs and also enhance the integration of efforts between the concerned authorities.”
She added that the ‘Invest in Oman’ hall is the first platform to provide all services to investors and display investment opportunities that exceed one million Omani rials, in cooperation with relevant government and private agencies, according to international best practices, She noted that the hall embodies the concept of complementary roles of government agencies and private sector. It aims to provide a unique model in serving investors, starting from the stage of discovering investment opportunities to the execution of the project.
Ibtisam said that the hall, with its defined roles, will be the first stop for the investor wishing to invest in the Sultanate of Oman. “At the ‘Invest in Oman’ hall, the investor will be able to learn about the business environment, investment incentives, industrial, free and economic zones in the Sultanate of Oman,” she said.
Ibtisam added, “The hall will help overcome all the challenges faced by the investor and fast track the project.”
She said that there were 14 government agencies working inside the hall to serve investors. In addition there would be six private bodies that would meet the needs of investors from within the hall and ensure that the investor goes through a smooth and speedy process. Each investor will be assisted by an account manager to have a hassle-free experience at the hall.
Source: Times of oman