OCCI asks businesses to make use of foreign capital investment restrictions

Muscat: Oman Chamber of Commerce and Industry (OCCI) stresses the importance of ministerial decision issued by the Ministry of Commerce, Industry and Investment Promotion, which specified a list of activities under which foreign investment is restricted to the Omani investors only, and exhorts businessmen to take benefit from this opportunity. 

The OCCI said: “The ministerial decision enables young people and national cadres to take advantage of opportunities to start economic projects of good quality, develop and maintain them by competing with their national counterparts.”

The Chamber confirms that the decision contributes to organising the labour market and creating real opportunities for young people who wish to pursue entrepreneurship, as these professions are popular in the market and considered to have a low operational cost and have a very good economic return. These also enhance the diversity of the economic sector for owners of small and medium enterprises.  

The Chamber clarified: “It is important to review this list of activities and others on a regular basis, and to work on adding other activities to the list if necessary, and to focus on foreign investment for activities that need large capital, added value and provide job opportunities.”

The OCCI invites young entrepreneurs to take advantage of this decision in determining their commercial fields and diversifying the sectors in which they work, since most of these sectors are occupied by expats.