Oman: Majlis A'Shura reviews law to boost GCC industrial integration
Chaired by Ahmed bin Saeed al Sharqi, the meeting discussed the government-referred draft law which aims to unify industrial legislation across the Gulf bloc. Ministry officials said the proposed law is intended to stimulate industrial growth, enhance sectoral contribution to national income, attract investment and foster regional integration.
The regulation also aims to support harmonisation of industrial policies among GCC countries, encourage innovation and promote localisation of advanced technologies to strengthen competitiveness in the sector.
Committee members emphasised the need to ensure the legislation reflects Oman's local industrial context and aligns with existing national laws and regulations.
The committee also reviewed and approved two final reports during the meeting. The first addressed the state of local industries in the sultanate, assessing challenges and opportunities in the sector and its alignment with the National Industrial Strategy and Oman Vision 2040. The report recommended better policy coordination and introduction of incentive packages to support industrial growth.
The second report evaluated the competitiveness and appeal of Oman's business environment, identifying key structural obstacles and offering strategic proposals to improve the sultanate's investment climate in line with diversification goals.
Both reports were developed following consultations with experts and stakeholders from relevant sectors, in accordance with Article 59 of the Law of Council of Oman, which allows the shura to make recommendations on matters of public interest.
The committee also adopted its suggestions on Ministry of Commerce, Industry and Investment Promotion's 2023 annual report, in line with Article 55 of Law of Council of Oman, which mandates annual reporting by service ministers and allows parliamentary review and questioning.
Additionally, the committee reviewed a draft amendment to the GCC Common Customs Law, continuing its efforts to support legislative coordination in the region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
42 minutes ago
- Zawya
Kuwait oil price down 64 cents to $68.59 pb -KPC
KUWAIT -- Price of Kuwaiti oil dropped 64 cents to settle on USD 68.59 per barrel on Tuesday compared to USD 69.23 pb on Monday, Kuwait Petroleum Corporation (KPC) said in a statement on Wedesday. Globally, price of Brent crude dropped by 37 cents to USD 67.11 pb, while West Texas Intermediate rose by 34 cents to USD 65.45 pb. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Zawya
an hour ago
- Zawya
Etihad Airways expands global network with three new routes to Krakow, Salalah, and Kazan
Abu Dhabi, UAE – Etihad Airways, the national airline of the United Arab Emirates, has announced three additional new destinations to further expand its global network. The airline will add seasonal flights to Kazan, Russia from December this year; as well as Krakow, Poland; and Salalah, Oman in the summer of 2026. These new routes offer guests more opportunities to discover unique cities across Europe, the Middle East, and Central Asia. Krakow, Salalah and Kazan each bring something special to Etihad's network – from UNESCO-listed heritage in Poland, and refreshing green landscapes in Oman, to a vibrant Volga-side city in Russia. Etihad continues to expand its footprint globally in order to directly link Abu Dhabi with a broader range of destinations people want to visit, and welcome more visitors to enjoy the UAE's capital. Etihad has already celebrated inaugural flights to four new destinations this year – Prague, Warsaw, Sochi and Atlanta - and is set to add another 13 routes before the year closes. Discover the New Destinations Krakow, Poland: launching 16 June 2026, Krakow will be Etihad's second destination in Poland, following the airline's successful route launch to Warsaw in June this year. Visitors to Krakow will enjoy a city of Gothic towers, Renaissance palaces and lively café culture. Travellers can wander the mediaeval Main Square, visit Wawel Castle, or use Krakow as a springboard to access the stunning Tatra Mountains. Salalah, Oman: launching 21 May 2026, the Arabian Peninsula's summer oasis. During the Khareef monsoon the region turns an emerald green, with mist-shrouded mountains, waterfalls, and cool coastal air. An ideal escape for families across the Gulf and a hidden gem for travellers from Europe or Asia looking to explore somewhere new. Kazan, Russia: launching 4 December 2025, one of Russia's fastest-growing tech and sports hubs in the heart of the Tatarstan region. Its Kazan Kremlin, mosques and cathedrals reflect centuries of Tatar-Russian heritage, while modern venues host global events. With Krakow, Salalah and Kazan on the map, Etihad will operate to more than 90 destinations worldwide, offering travellers award-winning service on board its modern fleet and seamless transfers through Zayed International Airport. Flight schedule Kazan from 4 December 2025 until 19 April 2026 – all times local Flight schedule Krakow from 16 June until 5 September 2026 – all times local About Etihad Airways Etihad Airways, the national airline of the UAE, was formed in 2003 and quickly went on to become one of the world's leading airlines. From its home in Abu Dhabi, Etihad flies to passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia, and North America. Together with Etihad's codeshare partners, Etihad's network offers access to hundreds of international destinations. In recent years, Etihad has received numerous awards for its superior service and products, cargo offering, loyalty programme and more. To learn more, visit
Zawya
an hour ago
- Zawya
Jordan FDI rises 14.3% in Q1 2025, reaching $339mln
AMMAN — Jordan recorded a 14.3 per cent increase in net foreign direct investment (FDI) inflows during the first quarter of 2025 compared with the same period last year, according to preliminary balance of payments data. Net FDI inflows reached around $339.3 million in Q1 2025, up from $296.8 million in Q1 2024. These inflows represented 2.6 per cent of the Kingdom's gross domestic product (GDP), compared with 2.4 per cent during the same period last year, the Jordan News Agency, Petra, reported. Arab countries accounted for the largest share of total FDI, contributing 54.5 per cent. Iraq led the group with 22.7 per cent of total inflows, followed by the Gulf Cooperation Council (GCC) countries with a combined share of 12.6 per cent. Among GCC states, the UAE topped the list at 5.8 per cent, followed by Saudi Arabia at 4.9 per cent and Bahrain at 1.1 per cent. European countries contributed 7.0 per cent of total FDI inflows. The UK led with 3.5 per cent, followed by EU member states at 3.1 per cent, with the Netherlands accounting for 1.3 per cent of the total. The US accounted for 3.9 per cent of FDI, while non-Arab Asian countries contributed 3.2 per cent, led by India at 1.6 per cent and China at 1.1 per cent. The remaining 31.4 per cent of total FDI inflows came from other countries. By sector, financial and insurance services attracted the highest share of FDI at 19.0 per cent, followed by construction and building at 12.5 per cent, manufacturing at 8.5 per cent, mining and quarrying at 7.9 per cent, transport and storage at 7.2 per cent, and accommodation and food services at 2.5 per cent. Meanwhile, non-Jordanian investment in land and real estate made up 20.3 per cent of total FDI inflows during the first quarter of 2025. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
