E-licensing opens for foreign investors

Muscat: The Ministry of Commerce, Industry and Investment Promotion has launched an electronic licensing service via its Invest-Easy Portal. The service targets companies governed by the Foreign Capital Investment Law.

Aseela Salim Al Samsami, Investment Promotion Under-Secretary at the ministry, told Oman News Agency (ONA) that the initiative figures among the Sultanate of Oman’s plans to consolidate its competitiveness through the attraction of investments, improvement of the business climate and the streamlining of procedures.

The service offers a brief account about the type of project and the expected investment value, said Aseela, noting that the service seeks to establish a digital database for identifying and attracting foreign investments into the Sultanate of Oman.

The new Foreign Capital Investment Law (FCIL) promulgated by Royal Decree 50/2019, came into force on 1 January 2020.