His Excellency Qais bin Mohammad Al-Yousef, the Minister of Commerce, Industry and Investment Promotion, said: “The Sultanate of Oman has a fertile environment for business.

“The wise directives of His Majesty Sultan Haitham bin Tarik and his keen interest in facilitating and developing the business model have provided a fertile environment for business growth and investment in the Sultanate of Oman.

“The country is one of the leading destinations for investors and entrepreneurs and to attract more investment, efforts are being integrated between the concerned authorities to implement these generous royal directives.

H.E. Al Yousef added: “Accordingly, a number of legislations and regulations were issued to improve the business environment, including the amendment of some provisions of the executive regulations of the Foreign Capital Investment Law, the issuance of the Commercial Companies Regulations, and the issuance of the executive regulations to the Competition Protection and Monopoly Prevention Law.

“In addition to these, there has been a reduction in fees for a number of government services. A number of electronic services, including automatic and investment licenses, have also been launched to make it an investor-friendly nation.”

He further elucidated: “The royal directives resulted in the launch of a number of national initiatives and programs, such as the National Programme for Investment and Export Development ‘Nazdaher’, the investor residency programme, the fast track initiative, and the Invest in Oman lounge project, which is a one-stop shop for providing all services on investment opportunities to investors, in cooperation with the relevant government authorities and private companies in accordance with the best international practices.”