For the first time, three former presidents of the Oman Chamber of Commerce and Industry have applied for membership in the chamber’s board of directors for the period 2022-2026.
Adding to the electoral competition this time around is the presence of other well-known personalities in the business and other institutions and companies in the private sector. It follows the announcement of the Supervising Elections Committee, opening of the door to candidates.
Officials at the Ministry of Commerce, Industry and Investment Promotion, which is supervising the chamber's elections, report that a work plan for the electoral process has been drawn up after the publication of the preliminary list of registered voters. During the upcoming period, the sub-committees for the elections will be formed to supervise their work, determine the electronic voting mechanism, and carry out all the necessary preparations for the electoral process.
The Chamber’s upcoming elections this time are characterised by the fact that some conditions have been set for board membership. The applicant must be an Omani, hold a bachelor’s degree, or have practical experience in doing business in the private sector for a period of not less than 10 years. They should be not less than 30 years of age, and must have been a member of the Chamber for a period of not less than 5 years. A good CV and reputation is a must. Additionally, candidates should not be employees of any units of the state’s administrative apparatus, or a paid worker in private sector institutions within Oman or abroad, with the exception of the CEOs of public shareholding companies who are candidates for membership of the Board.
The elections are also distinguished this time in that there will be 5 members representing the Governorate of Muscat, which is home to thousands of institutions and commercial companies registered with the Chamber. In addition, 5 members will represent each of the Chamber’s branches in the governorates. A further 5 members will represent public shareholding companies in the Muscat Stock Exchange, while another member will represent the foreign investor community.
The committee supervising the upcoming elections has called on all companies and commercial establishments to speed up the updating of their data to ensure that voters exercise their right to select their candidates for council membership. Everyone is keen to choose the most efficient representative who can achieve their commercial interests, thereby helping energize commercial and industrial activities, promote economic development, and achieve the goals of of Oman’s 2040 Vision, especially in the field of economic diversification
Today, there are more than 300,000 commercial establishments registered, although perhaps half of them operate through the hidden trade phenomenon or do not have any commercial activity based on their specific registrations. The authorities have been working to address these issues given their potential to harm the Omani economy.
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