Enhanced role for private sector in economic decision-making process

Muscat: Private sector being a key partner in the economic development of the Sultanate of Oman and an engine for growth, a new system was introduced facilitating a greater say to the Oman Chamber of Commerce and Industry (OCCI) in the decision-making process.

Redha bin Jumah Al Saleh, Chairman of the OCCI, told a symposium that introduction of the new system will ensure greater involvement of the private sector in various stages of decision-making to improve the business environment in the country and enable the private sector to play a greater role in economic development.

Within this context, he said, OCCI has been given the authority to express its opinion on laws related to the private sector and to propose amendments in the prevailing laws so that a greater integration of the private sector with all frameworks related to economic matters is brought about.

He said the new system will allow the OCCI, on the basis of prior research and studies conducted by it, to have greater substance and authority in decision making.

Further, he said, expanding the Board of Oman Chamber of Commerce and Industry  to bring in representatives of the public joint stock companies and foreign investors will provide it with an opportunity to communicate its views and proposals effectively.

The OCCI organised at its head office yesterday a seminar titled, ‘The new system of the Chamber promulgated by Royal Decree No. 56/2022’.

The seminar was organised under the patronage of Dr. Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion.

The seminar discussed the significant aspects of the new system, updates and changes in it. The seminar also discussed the enhancement of the autonomy of the chamber.

Ra’eid bin Mohammed Al Shahi, Chairman of Musandam branch of Oman Chamber of Commerce and Industry said the seminar aimed to explain the legal changes in the system as per the Royal Decree.

He said the seminar also discussed the potential impact of implementation of the changes, which are expected to have several positive sides that enhance governance, powers and prerogatives of the OCCI.

-With ONA inputs