The Ministry of Commerce, Industry, and Investment Promotion (MOCIIP) is organizing its annual media meeting today with the aim of reviewing the achievements of the last year. It will also announce plans for the current year.
The meeting will be attended by Qais bin Mohammed al Yousuf, Minister of Commerce, Industry and Investment Promotion, Dr. Saleh bin Saeed Masn, Undersecretary for Trade and Industry, Assila bint Salem Al-Samsamiya, Undersecretary for Investment Promotion, and Mohsin bin Khamis al Balushi, Advisor to the Ministry, and a number of officials in the Ministry.
Key highlights:
The Minister: MOCIIP seeks to empower the private sector to play an active role in supporting economic growth by providing facilities for direct import and export via Omani ports and by providing raw materials for factories and basic foodstuffs.
The Minister: The ministry seeks to develop short and long-term implementation plans, of which 11 initiatives implemented during the year 2021 have reached 100 percent.
The Minister: 17 opportunities will be launched in the tourism sector, apart from measures to improve the credit rating of the Sultanate and the increase the presence of qualified Omani cadres.
The Minister: Allowing foreign ownership and the Invest in Oman platform saw an increase in the volume of foreign direct investment by 7 percent and an increase in the number of new registrations by 44 percent.
The Minister: The number of investors who obtained an investor residency card since its inception reached 270 investors.
More than 176,000 automatic licenses were issued through the Invest Easy portal.
The volume of trade exchange between the Sultanate of Oman and the countries increased by more than 41.7 percent, with the contribution of manufacturing industries to the GDP up by 40.8 percent.
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