New services to enhance Oman’s competitiveness
Published: 02:01 PM,Jan 06,2025 | EDITED : 06:01 PM,Jan 06,2025
A large gathering of dignitaries and officials attended the inauguration of the new digital services newly added to the Oman Business Platform.
MUSCAT, JAN 6
The Ministry of Commerce, Industry and Investment Promotion (MoCIIP), in partnership with Muscat Municipality, unveiled three digital services on the Oman Business Platform on Monday, January 6, 2025. The services include the Rental Contracts Service, the Financial Reports Service and the Interactive Trade Name Guide.
The event, held under the auspices of Sayyid Saud bin Hilal al Busaidy, Governor of Muscat, was attended by prominent officials, including Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion; Sultan bin Salim al Habsi, Minister of Finance and Chairman of the Financial and Economic Committee in the Council of Ministers; Ahmed bin Mohammed al Humaidi, Chairman of Muscat Municipality; Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry; Ibtisam bint Ahmed al Faroojiyah, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion.
In his speech, Dr Saleh bin Said Masan highlighted MoCIIP’s strides in digital transformation through the Oman Business Platform. He outlined several recent initiatives, including the launch of automatic licensing, investment licenses, video documentation for transferring commercial registry ownership, issuance of certificates of origin for Arab countries, Singapore and EFTA countries, investor data updates, patent and industrial design registrations and Salalah Free Zone licenses.
The platform also boasts integration with 32 government entities for data exchange and 14 entities for licensing procedures, ensuring a streamlined and unified approach to business management.
Dr Masan emphasised the transformative potential of the newly launched services. The Rental Contracts Service integrates lease contract registration with economic activity licensing, providing a single, streamlined platform for investors. The Financial Reports Service enables businesses to submit annual financial data electronically, while the Interactive Trade Name Guide simplifies the process of selecting and registering trade names for new businesses.
“These services aim to accelerate and enhance business procedures, creating a more efficient and organised environment for entrepreneurs and investors,” said Dr Masan.
Ahmed bin Mohammed al Humaidi, Chairman of Muscat Municipality, lauded the initiative for its ability to save time and effort, enhance transparency and reduce human errors. By integrating seamlessly with public and private entities, the services ensure reliability and efficiency in managing rental contracts.
“These advancements will strengthen Oman’s competitiveness in the business and investment sectors while aligning with the government’s commitment to streamlining litigation processes through real-time data sharing with judicial authorities,” Al Humaidi added.
Nasra bint Sultan al Habsiyah, Director General of Commerce at MoCIIP, highlighted the platform's role in Oman’s digital transformation journey. She noted that the Oman Business Platform recorded 446,792 commercial registrations and completed 122,145 transactions by the end of the third quarter of 2024, a 17.43 per cent increase compared to the same period in 2023.
The launch of these services aligns with Oman’s vision for a knowledge-based economy. Supported by the National Digital Society Strategy and eGovernment initiatives, this vision emphasises capacity building, infrastructure development and trust through effective legislation.
The Ministry’s efforts through the Oman Business Platform aim to streamline business operations, encourage investment and contribute to national economic growth while adopting global best practices in collaboration with public and private stakeholders.
These innovative services mark a significant milestone in Oman’s journey towards becoming a global hub for efficient and transparent business operations.
The Ministry of Commerce, Industry and Investment Promotion (MoCIIP), in partnership with Muscat Municipality, unveiled three digital services on the Oman Business Platform on Monday, January 6, 2025. The services include the Rental Contracts Service, the Financial Reports Service and the Interactive Trade Name Guide.
The event, held under the auspices of Sayyid Saud bin Hilal al Busaidy, Governor of Muscat, was attended by prominent officials, including Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion; Sultan bin Salim al Habsi, Minister of Finance and Chairman of the Financial and Economic Committee in the Council of Ministers; Ahmed bin Mohammed al Humaidi, Chairman of Muscat Municipality; Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry; Ibtisam bint Ahmed al Faroojiyah, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion.
In his speech, Dr Saleh bin Said Masan highlighted MoCIIP’s strides in digital transformation through the Oman Business Platform. He outlined several recent initiatives, including the launch of automatic licensing, investment licenses, video documentation for transferring commercial registry ownership, issuance of certificates of origin for Arab countries, Singapore and EFTA countries, investor data updates, patent and industrial design registrations and Salalah Free Zone licenses.
The platform also boasts integration with 32 government entities for data exchange and 14 entities for licensing procedures, ensuring a streamlined and unified approach to business management.
Dr Masan emphasised the transformative potential of the newly launched services. The Rental Contracts Service integrates lease contract registration with economic activity licensing, providing a single, streamlined platform for investors. The Financial Reports Service enables businesses to submit annual financial data electronically, while the Interactive Trade Name Guide simplifies the process of selecting and registering trade names for new businesses.
“These services aim to accelerate and enhance business procedures, creating a more efficient and organised environment for entrepreneurs and investors,” said Dr Masan.
Ahmed bin Mohammed al Humaidi, Chairman of Muscat Municipality, lauded the initiative for its ability to save time and effort, enhance transparency and reduce human errors. By integrating seamlessly with public and private entities, the services ensure reliability and efficiency in managing rental contracts.
“These advancements will strengthen Oman’s competitiveness in the business and investment sectors while aligning with the government’s commitment to streamlining litigation processes through real-time data sharing with judicial authorities,” Al Humaidi added.
Nasra bint Sultan al Habsiyah, Director General of Commerce at MoCIIP, highlighted the platform's role in Oman’s digital transformation journey. She noted that the Oman Business Platform recorded 446,792 commercial registrations and completed 122,145 transactions by the end of the third quarter of 2024, a 17.43 per cent increase compared to the same period in 2023.
The launch of these services aligns with Oman’s vision for a knowledge-based economy. Supported by the National Digital Society Strategy and eGovernment initiatives, this vision emphasises capacity building, infrastructure development and trust through effective legislation.
The Ministry’s efforts through the Oman Business Platform aim to streamline business operations, encourage investment and contribute to national economic growth while adopting global best practices in collaboration with public and private stakeholders.
These innovative services mark a significant milestone in Oman’s journey towards becoming a global hub for efficient and transparent business operations.