Latest news with #IndustryandInvestmentPromotion
Muscat Daily
3 days ago
- Business
- Muscat Daily
Omani govt delegation reviews Dhofar industrial growth
Salalah – A joint delegation from Ministry of Commerce, Industry and Investment Promotion; the Projects, Tenders and Local Content Authority; and Oman Chamber of Commerce and Industry conducted a field visit to several factories in Dhofar on Monday as part of ongoing efforts to support industrial development and enhance local content. The visit included industries within Salalah Free Zone, Madayn and Dhofar Industrial Zone. Officials reviewed production processes, discussed key achievements, and explored areas for development and innovation across various manufacturing sectors. The delegation held discussions with factory representatives to understand existing challenges, identify growth opportunities, and explore mechanisms to enhance collaboration between the public and private sectors. The visit aligned with objectives of the National Industrial Strategy and aimed to increase local added value in the manufacturing sector, the ministry stated. Khalid bin Salim al Qassabi, Director General of Industry at Ministry of Commerce, Industry and Investment Promotion, said such field visits provide an opportunity for direct dialogue with factory owners and workers. 'These visits help us understand the realities on the ground, listen to the concerns of manufacturers, and identify practical solutions that promote industrial networking and growth.'
Observer
4 days ago
- Business
- Observer
Public-private meeting held
SALALAH: A meeting was held on Monday at the Directorate-General of Commerce, Industry and Investment Promotion in Dhofar Governorate to follow up on work progress during the Khareef Dhofar Season and complement ongoing efforts to serve visitors to the governorate. The meeting, chaired by Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, brought together representatives from various government entities and the private sector. The under-secretary emphasised the importance of continued provision of essential goods and products, alongside intensified market and commercial outlet inspections to ensure adherence to pricing and service quality. He also stressed the importance of promoting the use of electronic payment methods across various commercial outlets to facilitate shoppers. Regarding fuel stations, he urged petroleum marketing companies to monitor stations' readiness daily and ensure the availability of all services to meet the increasing demand during the khareef season. He emphasised that the unique nature of the khareef season necessitates continued joint action and an accelerated pace of work, even outside official working hours, to ensure the comfort of visitors and residents from both within and outside Oman. - ONA
Time of India
24-07-2025
- Business
- Time of India
Live in Oman for 10 years: How to qualify for long-term residency by investment
Oman's investor visa offers self-sponsored 5- and 10-year residency to global investors/Representative Image TL;DR: Oman grants 5- and 10-year renewable residencies to eligible foreign investors. Investment thresholds: OMR 250,000 (USD 650k) for 5 years; OMR 500,000 (USD 1.3 million) for 10 years. Investment options include real estate, business equity, government bonds, or bank deposits. Residency permits include self-sponsorship, multiple entries, and family coverage. As part of its sweeping national reform strategy known as Oman Vision 2040, the Sultanate has actively shifted toward welcoming long-term foreign capital through structured programs. The Investor Residency Program (IRP), launched in 2021 and regulated by Ministerial Decision No. 209/2022, serves as a key pillar in that effort. It allows global investors to obtain either five-year or ten-year renewable residencies, offering them not only a stable base in one of the region's safest and most business-friendly environments, but also a pathway to long-term integration into Oman's private sector landscape. Unlike temporary or employment-linked visas, the IRP provides investors and their families self-sponsorship rights, creating an appealing option for high-net-worth individuals seeking security, stability, and flexibility in the Gulf. With minimal bureaucratic hurdles and a digital-first application model, Oman positions itself as a discreet but powerful player in the competitive GCC residency-by-investment arena. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo Legal Framework & Authority Responsible Body: Ministry of Commerce, Industry and Investment Promotion (MOCIIP) Regulatory Basis: Ministerial Decision No. 209/2022 Delivery: Administered via the Invest Oman digital portal and affiliated service centres Residency vs Citizenship: Offers long-term stay benefits but does not confer citizenship or nationality Investment Tiers & Permit Duration Under the Investor Residence Programme, Oman offers two main tiers of residency permits, categorized by the amount of investment and the duration of the permit. According to the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), the first tier, known as the long-term residency, grants a 10-year renewable residency to investors who commit at least OMR 500,000 (approximately USD 1.3 million) in eligible investments. These may include purchasing property in designated integrated tourism complexes (ITCs), establishing a business, or investing in government-approved development projects. The second tier, known as the medium-term residency, provides a 5-year renewable residency for those investing OMR 250,000 (around USD 650,000). Both tiers allow the investor to sponsor their spouse, children (up to age 25), and parents. Residency is conditional upon maintaining the investment throughout the permit period, and failure to do so may result in revocation, as outlined by Oman's Decision No. 26/2021 governing the programme. Additionally, in a 2024 update, authorities confirmed that investors are also eligible to apply for property ownership rights, especially within ITC-designated areas, a policy designed to stimulate the real estate and tourism sectors. The programme aims to attract foreign capital and promote long-term economic diversification in line with Oman Vision 2040. Benefits & Family Inclusion The program is designed for comprehensive lifestyle integration. Primary benefits include the right to self-sponsor (no employer or local sponsor needed), freedom to enter and exit Oman multiple times during the visa validity, and eligibility to own and operate businesses with 100% foreign ownership under the Foreign Capital Investment Law. Investors may also access education, healthcare, and leasing rights, similar to Omani residents. Crucially, the IRP allows the inclusion of immediate family members: spouse, minor children, and dependent parents. Family members receive residency for the same duration as the principal investor, creating a full relocation path. While these dependents do not need to make separate investments, they must pass medical and security checks and are subject to minor processing fees. Oman's program does not currently impose a minimum stay requirement, meaning investors can maintain global mobility without needing to reside in the Sultanate full time. This flexibility makes it especially attractive for businesspeople managing operations across different geographies. Application Process Applying for the Investor Residency Programme in Oman is streamlined through the Investment Services Center under the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). The entire process can be completed online via the official 'Invest Easy' portal, which centralizes government services for investors. Applicants must first select their desired residency tier—5-year or 10-year—based on their planned investment amount. They are required to submit a formal application, including personal identification documents (passport copy, civil ID if applicable), proof of investment (e.g., property deeds, business licenses, bank statements), a valid health insurance policy, and a police clearance certificate from their country of residence or origin. Additionally, a medical fitness certificate from an approved Omani health facility is mandatory for all applicants. Once submitted, applications are reviewed by a specialized committee within the MoCIIP. If approved, the investor is granted a residency permit issued by the officials, which can be renewed depending on continued compliance with investment thresholds. Investors may also apply to sponsor their immediate family members during or after the approval process. To improve efficiency and attract more high-net-worth individuals, Oman's government introduced a 'green channel' fast-track option for applicants meeting certain strategic investment criteria, though these are subject to ministry discretion. The entire process typically takes between 5 to 15 working days, provided all documents are complete and verifiable. Oman's Investor Residency Program marks a strategic shift in how the Sultanate positions itself on the global investment map. While less high-profile than neighbouring UAE or Saudi Arabia, Oman's offering is transparent, practical, and legally grounded, making it appealing to investors looking for long-term regional presence without excessive publicity or bureaucracy. With a stable political climate, low crime rates, and one of the most livable environments in the Gulf, Oman's long-term visa option is increasingly being seen not just as a tool for economic development, but as a pathway to quality of life. Whether you're investing in real estate, launching a company, or diversifying assets through bonds or deposits, the IRP offers a dependable route to long-term residency in a country where safety, business autonomy, and serenity converge.
Muscat Daily
22-07-2025
- Business
- Muscat Daily
Dhofar officials discuss challenges to plastic bag ban with manufacturers
By OUR CORRESPONDENT Salalah – The Department of Commerce, Industry and Investment Promotion in Dhofar held a joint meeting with owners of plastic manufacturing factories in cooperation with Environment Authority (EA) and Oman Chamber of Commerce and Industry – Dhofar branch to address challenges surrounding the national ban on single-use plastic shopping bags. The meeting aimed to open direct dialogue with industry stakeholders, assess the current impact of the ban and explore sustainable alternatives that align with Oman's environmental goals, while supporting the continuity and adaptability of the local industrial sector. EA had announced implementation of the third phase of a national initiative to ban single-use plastic shopping bags from July 1, 2025. The latest stage broadens the scope of the ban to include additional segments of the retail and food sectors. Shops selling fruits and vegetables, packaging units, grocery stores, sweet sho-ps, candy factories, bakeries, gift shops and outlets selling bread, pastries and confectionery will be required to stop providing single-use plastic bags and switch to sustainable alternatives such as reusable cloth or paper bags. In January 2024, Decision No 8/2024 set out a phased approach to ban all single-use plastic shopping bags by 2027. The phased rollout is designed to help businesses and consumers adapt gradually, EA stated. The first phase, which began on July 1, 2024, targeted pharmacies, hospitals and clinics. The second phase, effective from January 1, 2025, covered textiles and fabric stores, clothing outlets, tailors, eyewear shops, mobile phone vendors and repair services, watch shops, furniture retailers and household goods suppliers. Businesses found violating the ban face fines between RO50 and RO1,000. Repeat offences within a month result in doubled penalties.
Muscat Daily
16-07-2025
- Business
- Muscat Daily
Social media powers rapid increase in e-commerce in Oman
Muscat – The e-commerce sector has recorded exponential growth with over 10,500 businesses licensed to operate online as of mid-July 2025. According to Ministry of Commerce, Industry and Investment Promotion, the number of e-commerce licences has grown at a compound annual rate of 191% between 2020 and 2025 fuelled largely by increased activity on platforms such as Instagram, TikTok and WhatsApp. This rapid expansion is attributed to an increasing preference for digital interaction, especially among small and medium enterprises that now rely on social media to market and sell products. The trend aligns with global shifts in consumer behaviour and is further supported by Oman's first e-commerce regulatory framework which was introduced in September 2023. Hanan bint Hamid al Jabriya, Head of E-Commerce Section in the ministry, said the regulations under Ministerial Decision No 499/2023 provide the legal basis for online businesses to operate. These include websites and social media accounts, with most popular being those dealing in perfumes, cosmetics and ready-made garments. Hanan bint Hamid al Jabriya While the sector shows promise, challenges remain. Sellers often face issues such as payment fraud, fake receipts and last-minute order cancellations. Buyers, in turn, report concerns about return policies, quality assurance and data protection. Digital security expert Dr Nasser bin Hamid al Musalhi of Mazoon College highlighted the need for stronger cyber safety measures. He warned against purchasing from unverified platforms and urged users to avoid storing payment details in browsers. 'Fraudsters often use psychological tactics like urgency and unrealistic discounts to prompt hasty payments,' he said. Malik bin Ishaq al Qarni, an online entrepreneur, said that social media was key to his business success, allowing him to reach a wide audience at low cost, showcase products instantly, engage with customers directly and build a credible brand. These factors make e-commerce faster, easier and more accessible than traditional methods. Malik bin Ishaq al Qarni Speaking of challenges, he added, 'Some customers hesitate to pay in advance due to scams they've seen online. Others cancel after placing orders, which creates logistical and financial setbacks.' Despite these hurdles, Oman's e-commerce environment is gaining traction. The National E-Commerce Plan (2022–2027) aims to transform the country into a regional hub by building an advanced digital trade ecosystem. The ministry continues to tighten monitoring of online transactions and promote safer practices across social platforms. As Oman's online business community expands, the government is working to ensure regulatory and technical infrastructure keep pace, supporting both sellers and consumers in a fast-evolving marketplace.
