MoCIIP holds meeting with honourary consuls

MUSCAT: The Ministry of Commerce, Industry and Investment Promotion, on Monday organised the third meeting with honorary consuls of the Sultanate of Oman in presence of Asila bint Salim al Samsamiyah, Under-Secretary for Investment Promotion at the Ministry of Commerce, Industry and Investment Promotion.

The meeting was attended by the honorary consuls of the Sultanate of Oman in Portugal, Monaco, Milan, Zimbabwe and Pittsburgh.

This comes within the framework of constant meetings organised by the Ministry of Commerce, Industry and Investment Promotion, in collaboration with the Foreign Ministry, with ambassadors and honorary consuls in an effort to draw investors, enhance economic cooperation and find investment partners in friendly countries.

The under-secretary for investment promotion, said these meetings come within the framework of integrative work between government sectors and stakeholders. The honorary consuls of the Sultanate of Oman play a significant role in introducing the services provided by the ministry and the incentives, initiatives and investment opportunities available in the Sultanate of Oman. Hence, bringing foreign direct investment to the Sultanate of Oman and promoting Omani products in international markets, enhancing economic cooperation and building international business partnerships.

Al Samsamiyah added that the ministry has recently adopted a number of policies to create a conducive investment climate and develop exports. Foreign direct investment (FDI) amounted to RO 16.33 billion at the end of the second quarter of 2021 representing an increase of 6.7 per cent compared to the same period of 2020.

During the meeting, a visual display was presented highlighting the investment environment in the Sultanate of Oman and the available investment opportunities which included the economic stimulus plan for 2021-2022, the facilities provided to foreign investors willing to invest in the Sultanate of Oman as well as the laws that contribute to attracting foreign investments.

The meeting reviewed the free trade agreements between the Sultanate of Oman and other countries, investment licensing service, Investor Residency Programme” (IRP) which grants long-term residency in the Sultanate of Oman.