Foreign Capital Investment Law simplified to attract investors to Oman

Muscat: The Ministry of Commerce and Industry has started implementing Foreign Capital Investment Law through a simplified portal, the Ministry said.

A statement issued online by the Ministry of Commerce and Industry said: “A draft of the Foreign Capital Investment Law aims to enhance Oman's position as an investment destination capable of attracting foreign capital by simplifying the procedures and permits necessary to start foreign investment inside the Sultanate, attracting foreign investment by granting benefits and incentives and strengthening the legislative environment that regulates the practice of business attracting investments.”

“This law also aims at expanding the investment sectors for the foreign investor to include strategic projects that contribute to achieving development in the activities of public utilities and infrastructure, and granting the foreign investor guarantees for his investment project,” the statement added.