Muscat: In a landmark initiative to energize Oman’s economy, the Ministry of Commerce, Industry, and Investment Promotion (MoCIIP), in collaboration with key government and private entities, unveiled the “Festival of Discounts and Offers” under the banner “Oman Celebrates.”
The event, inaugurated today, January 9, 2025, underscores the nation’s commitment to stimulating commerce, fostering public-private partnerships, and celebrating the fifth anniversary of His Majesty Sultan Haitham bin Tarik’s leadership.
The festival, which will run from January 11 to February 11, 2025, involves a concerted effort by the Oman Chamber of Commerce and Industry, the Ministry of Heritage and Tourism, the Ministry of Information, Muscat Municipality, and the Consumer Protection Authority, among others.
With the active participation of Oman Arab Bank and Visa, this initiative seeks to highlight the resilience of Oman’s economy, foster investment, and offer competitive deals across the Sultanate.
Speaking at the launch event, Sheikh Faisal bin Abdullah al Rawwas, Chairman of the Oman Chamber of Commerce and Industry, emphasised that the festival commemorates Oman’s renewed renaissance under His Majesty Sultan Haitham’s leadership.
“This campaign reflects the private sector’s role as a cornerstone of sustainable economic development. By uniting businesses across all governorates, we enhance commercial vibrancy and provide tangible benefits to consumers,” he said.
Echoing these sentiments, Ms. Nasra bint Sultan Al-Habsi, Director General of Commerce at MoCIIP, noted that the festival aligns with Oman Vision 2040’s strategic directives to bolster economic diversification.
“This initiative creates opportunities for private sector growth, stimulates shopping activity, and provides affordable consumer goods to all segments of society. It’s an inclusive celebration that benefits citizens, residents, and businesses alike,” she remarked.
Discounts offered during the campaign range from a minimum of 30% in smaller establishments to over 50% in major malls and retail outlets. Daily and weekly prize draws, with at least 30 prizes available, aim to further engage the public and drive footfall in commercial spaces.
The festival’s reach extends beyond commerce, with a strong focus on bolstering Oman’s tourism and hospitality sectors.
Riyah bint Salim al Maskariya, Assistant Director of Tourism Marketing at the Ministry of Heritage and Tourism, highlighted the campaign’s dual role in promoting Oman as a premier shopping and tourism destination.
“This initiative strengthens Oman’s appeal to both domestic and international visitors, enhancing travel experiences while supporting SMEs in tourism and hospitality,” she said.
Similarly, Hassan bin Jameel Al-Ishaq, Chairman of the Trade and Retail Committee at the Oman Chamber of Commerce and Industry, emphasized the retail sector’s alignment with this national celebration.
“The festival offers malls and retailers a golden opportunity to increase sales and attract consumers with competitive prices and promotional offers,” he stated, adding that the retail sector has finalized preparations to ensure wide participation and consumer satisfaction.
Aligned with Oman Vision 2040, the campaign underscores support for small and medium enterprises (SMEs) through strategic marketing and promotional opportunities.
Al Muntasir bin Saud al Husseini from the Authority for SMEs Development emphasized the role of such campaigns in empowering SMEs, fostering their growth, and integrating them into the national economy.
On the financial front, Oman Arab Bank and Visa have partnered to promote modern payment solutions as part of the festival. Jumaa bin Khalfan al Faliti, Deputy Head of Retail Banking at Oman Arab Bank, highlighted the collaboration’s significance: “This partnership facilitates access to innovative payment technologies while driving growth across sectors and supporting SMEs.”
The Festival of Discounts and Offers exemplifies the synergy between public and private sectors in fostering Oman’s economic growth. By offering incentives that invigorate consumption and attract investment, the campaign reinforces Oman’s position as a competitive business and tourism hub in the region.
As Oman embraces this celebratory initiative, it underscores its steadfast commitment to enhancing the business environment, supporting economic diversification, and achieving the ambitious objectives of Oman Vision 2040.
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