Saturday 08 / November / 2025
Muscat: The Ministry of Commerce, Industry and Investment Promotion, in collaboration with the Ministry of Labour, the Royal Oman Police, and the Tax Authority, continues to implement the “Elite Companies” initiative.
This programme aims to spotlight leading companies distinguished by their institutional, financial, and administrative performance.
The initiative seeks to stimulate the business environment by encouraging the adoption of advanced models of governance, innovation, and productivity.
It aligns with Oman’s broader efforts to support the national economy and empower the private sector to play a vital role in achieving the goals of Oman Vision 2040.
As part of the Ministry’s strategy to honour national institutions that have fostered a culture of excellence, the initiative also aims to enhance the private sector’s ability to create job opportunities and attract investment, thereby boosting Oman’s economic competitiveness regionally and globally.
Mubarak bin Mohammed Al-Douhani, Director General of Planning at the Ministry and Head of the Supervisory Team for the Elite Companies, emphasised that the initiative reflects the Ministry’s vision of building a competitive and resilient private sector rooted in governance, innovation, and sustainability.
He noted that the companies classified under this initiative have demonstrated readiness for expansion and growth, offering business models aligned with global market dynamics.
Beyond recognition, the initiative encourages companies to adopt best practices, improve operational efficiency, and contribute to economic development by creating quality employment opportunities for Omani youth. These companies are expected to lead productive sectors and support a dynamic and competitive investment environment.
Al-Douhani highlighted that Elite Companies form the backbone of the local economy. Out of 352,622 registered companies, 5,109 have been classified as Majid Companies.
Their exports, as recorded in the Bayan customs system by the end of 2024, reached OMR5.926 billion out of a total OMR9.279 billion in private sector exports representing 63.8% of the total.
Additionally, these companies employ 140,881 Omani nationals, accounting for 40% of the total Omani workforce in the private sector.
Tariq bin Nasser Al-Harassi, Director of Commerce, Industry and Investment Promotion in South Al Batinah Governorate and Project Manager for Elite Companies, explained that the initiative uses a clear classification system based on company age, revenue size, export value, Omanization rates, branch network, and market presence. Companies must also demonstrate active operations and legal compliance with national regulations.
He added that classified companies benefit from several advantages, including participation in shaping commercial policies, streamlined procedures, enhanced investor confidence, and other approved incentives.
Mustafa bin Ahmed Salman, Board Member of the Oman Chamber of Commerce and Industry and Chairman of the Finance and Insurance Committee, stated that the Elite Companies initiative reflects a strong national vision to reinforce the private sector’s central role in sustainable development, investment attraction, and economic opportunity creation. He noted that this strategic step supports high-performing national companies known for innovation and effective management, helping raise competitiveness in both local and regional markets.
He added that the initiative will offer a range of incentives and benefits to companies across its classification tiers, enhancing their operational and expansion capabilities and driving them toward higher levels of performance and productivity.
These benefits will also motivate other companies to adopt best practices and strive to join the classification in the future.
Salman concluded by emphasizing that this initiative represents a vital national project that strengthens Oman’s economic framework.
The Oman Chamber of Commerce and Industry is committed to supporting it through active partnerships with government entities and private institutions, with the goal of creating a more flexible and attractive business environment. The initiative is expected to empower Omani companies to grow, expand, and compete regionally and globally, in line with the national objectives of Oman Vision 2040.
Executives from leading companies classified under Category (A) of the Elite Companies list have expressed pride in the recognition and reaffirmed their commitment to excellence and national development.
Nasser bin Suleiman Al-Azri, CEO of Vale Oman, stated that the company’s classification in Category (A) affirms its dedication to developing an integrated industrial ecosystem that supports Oman’s strategic goals, enhances local value, and empowers national talent. He emphasized that Vale Oman will continue investing in technology and innovation to ensure the sustainability of the national industrial sector.
Sameeh bin Ahmed Al-Abdullatif, Board Member of Gulf Agency Company (Oman), also classified in Category (A), noted that this recognition serves as a strong incentive to continue improving services and elevating operational standards.
Faisal bin Salim Al-Maashani, Director of the CEO’s Office at Oman Flour Mills, highlighted that the company’s designation as a Elite Company in Category (A) reflects its commitment to excellence, quality, and sustainability in the food industry. He affirmed the company’s ongoing efforts in digital transformation and its contribution to national food security.
Moath bin Ahmed Al-Hinai, CEO of Onsor Technologies, described the company’s classification as a Elite Company as a significant milestone that underscores its adherence to quality and excellence standards. He added that the recognition boosts client and partner confidence and opens new opportunities for growth and expansion.
Al-Hinai further emphasised the company’s focus on developing team capabilities, optimizing operations, and building sustainable partnerships to maintain excellence.
He expressed strong support for the national initiative and looked forward to additional incentives that encourage companies to elevate their performance.
The Elite Companies initiative continues to highlight Oman’s pioneering role in enhancing the business environment and empowering national enterprises to build a diversified and sustainable economy rooted in innovation and knowledge. It reinforces Oman’s position as an attractive destination for investment and entrepreneurship, while strengthening the overall competitiveness of its business ecosystem.
