Oman Launch of new service for companies subject to foreign investment

The online investment licensing service through the ‘Invest Easy’ portal will allow all companies to obtain licenses for their projects through self-service or service centers.

Muscat (Urdu Point News Latest. December 17, 2021) A new service has been launched in the Gulf Kingdom of Oman for companies subject to foreign investment. Will be allowed to obtain licenses through self-service or service centers. According to Oman News Agency (ONA), Oman’s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has launched a new service for companies subject to foreign investment, MoCIIP said. Has launched an online investment licensing service, which allows all companies to obtain licenses for their projects through self-service or service centers under the Foreign Investment Law.
Asila Bint Saleem Al-Samia, Under-Secretary for Investment at the Ministry of Commerce, Industry and Investment Promotion, says the service aims to create a digital database of the type and volume of foreign investment in the Sultanate of Oman, during the next phase. The ministry is trying to develop a comprehensive strategy that focuses on the economic dimension and prepares future work in a clear manner, taking into account the areas of trade, industry and investment promotion. In order to provide a conducive environment for business.
Earlier, Oman had extended the grace period for companies to hire foreigners. The license to allow manpower recruitment, which was due to expire on September 30, 2021, was extended to December 31, 2021.
Ministry of Labor announces extension of license for foreign manpower due to exposure to Corona virus under facilities provided to private sector companies The license, which previously expired on September 30, 2021, has now been extended to the end of the year, the company said in a statement.

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