The Board of Directors of Oman Chamber of Commerce and Industry (OCCI) endorsed the establishment of a joint Omani-Bahraini joint venture company with a capital of RO 10 million and shareholders representing the two chambers as well as investors from the two brotherly countries The approval came at the sixth meeting of the Board presided over by Eng Redha bin Juma al Saleh, Chairman – OCCI.
In other decisions, the Board pledged funding support of RO 5,000 annually toward the ‘Made in Oman’ campaign with the aim of supporting, developing, expanding and strengthening the presence of Omani products locally, regionally and internationally.
The Chamber said it is currently preparing a study of the fees imposed on the private sector and comparing them with those in the GCC countries. It will submit a number of proposals to the authorities concerned with the goal of strengthening the economy and empowering the private sector.
Additionally, the Board discussed the importance of creating an integrated centre for exhibitions and conferences in Dhofar Governorate, a tender for the study for which will be floated first, it said.
Furthermore, based on the studies and recommendations of the Investment Committee, the Board approved investments in GCC and international equities.
As an incentive to members to participate in exhibitions organised by the Chamber locally and internationally, the Board agreed to cut the participation fee by 50 per cent. It also decided to allocate free seats in the chamber’s courses, programmes and training workshops to private sector institutions and companies, and offer holders of Riyada cards a 50 per cent reduction in fees to attend the Chamber’s meeting in various governorates. (With inputs from ONA)
