Welcome to Business Start Up Oman

Omans Chamber Commerce signs MOUs to empower SMEs

Omans Chamber of Commerce and Industry (OCCI) recently signed three key memoranda of understanding (MOUs) in a strategic move to support the growth and sustainability of small and medium enterprises (SMES).

The...

Oman unveils shore power investment opportunities

Omans Sohar Port and Freezone recently revealed a strategic investment opportunity focused on the development of shore power infrastructure.

The Sohar Port and Freezones {_blank}...

Oman's Progress on Free Trade Agreement with Singapore

Oman has made significant strides in expanding its trade relationship with Singapore, increasing its exported products from 51 in 2000 to 135 in 2018. This growth underscores Oman’s commitment to becoming...

Oman’s SME sector growing with strong government support

Oman’s small and medium enterprise (SME) sector is experiencing significant growth with 141,126 registered SMEs at Q2 2024, as reported by the Authority for Small and Medium Enterprises Development....

Oman unveils 151 new investment opportunities

Oman`s Ministry of Housing and Urban Planning (MHUP) recently approved 151 new projects, in a bid to enhance economic growth and sectoral development. Announced on the Tatweer platform, these initiatives...

Oman Business Platform hits record transactions in H1 2024

Oman`s Business Platform facilitated a record 487,300 commercial transactions for the first half of 2024, figures from the Ministry of Commerce, Industry and Investment Promotion show.

During the first...

Oman’s Economic Growth driven by manufacturing in 2024

Oman’s Ministry of Economy reported that in the first quarter of 2024, the manufacturing sector has emerged as the leading performer among key economic diversification sectors.

This notable achievement...

Oman leading the way in arid agriculture innovation

Oman is revolutionising its agricultural industry by deploying innovative technology solutions to increase the Sultanates self sufficiency.

The country is embracing a groundbreaking agricultural technique...

Oman boosts Jobs and Investment using E-Commerce

Oman is undergoing a digital transformation and e-commerce - which involves the online transaction of goods and services - is making a notable economic impact in the Sultanate.

The growth of e-commerce...

Oman`s Be’ah and Nitaj advance energy and farming projects

Oman`s Be’ah municipal waste management agency is implementing initiatives and strategies aimed at unlocking energy and other value streams from waste.

Projects in various stages of early development...

Oman to GCC direct power interconnection to be ready by 2026

Oman and the GCC Interconnection Authority (GCCIA) have designed an upgraded direct interconnection link to be completed by 2026 according to Oman’s national grid operator OETC.

The new link will...

Oman trade with Qatar amounted to OMR 571 million in 2023

Oman and Qatar recently announced an increase in trade volume of 20%, reaching OMR 571.15 million (USD 1.48 billion) in 2023 compared to OMR 475.96 million (USD 1.24 billion) in 2021.

The figures were...

Oman and UAE announce commencement of Hafeet Rail project

Oman will soon begin construction on its revolutionary railway project, which will connect Sohar to Al Ain and Abu Dhabi - a distance of over 300km.

Named 'Hafeet Rail', the visionary OMR 1.15 billion...

Oman to explore new initiatives to unlock offshore oil potential

Oman’s vast and untapped offshore hydrocarbon sector holds the key to potentially unlocking resources that will help sustain the country’s oil and gas production over the long-term.

Unlocking the...

Oman to implement global IBAN banking system

Oman`s Central Bank (CBO) has announced it will introduce the International Bank Account Number (IBAN) standard enabling seamless local and international payments.

The banks initiative will [modernise...

Oman Airports celebrates record profits in 2023

Oman Airports and its subsidiaries have achieved remarkable growth in both financial performance and operational efficiency as highlighted in a latest report.

According to Oman Airports{_blank}...

Oman Ministry showcases investment opportunities

Omans Ministry of Commerce, Industry and Investment Promotion recently promoted notable investment opportunities to foreign ambassadors and heads of global diplomatic missions.

The forum was hosted...

Oman unveils OMR 500 million waterfront project in Muscat

Oman’s Ministry of Housing and Urban Planning (MoHUP) has announced plans for a reimagined waterfront project in the capital covering 3.3 million square metres.

Termed as the Al Khuwair Muscat Downtown...

Oman`s National Finance continues to support SMEs

Oman`s National Finance Company has further strenghtened its commitment to local enterprises by extending its collaboration with Sharakah.

Sharakah is an organisation{_blank}...

Oman Free Zones attract massive green industry investments

Oman's Public Authority for Special Economic and Free Zones (OPAZ) has revealed total invested capital has exceeded OMR 17 billion (USD 44 billion) as of Q2 2023.

Several contributing factors include...

Oman Vision 2040 implementation progress impresses IMF

Oman has made substantial progress in diversifying its economy and implementing its Vision 2040, according to the International Monetary Fund (IMF).

The IMF has recognised the Oman governments decisive...

Omans 2024 budget targets priority sectors and social welfare

Oman’s state budget for 2024 aims to maintain spending levels in essential sectors including education, health and housing. In addition, it prioritises the development and investment in strategic projects...

Oman attracts foreign direct investment worth USD 59 billion

Omans foreign direct investment (FDI) reached almost OMR 23 billion by the third quarter of 2023 according to preliminary data from the National Centre for Statistics and Information (NCSI).

The oil...

Oman boosts local products with 'Made in Oman' campaign

Omani products have significantly benefitted from the recent 'Made in Oman' campaign which took place across the Sultanate. The campaign played an important role in enhancing public awareness of purchasing...

Oman`s oil and gas investment reaches OMR 2.25 billion

Oman`s total investment in the exploration, production and development of oil and gas during the first half of 2023 reached OMR 2.25 billion (USD 5.84 billion).

According to figures from the [Ministry...

Oman and the United Kingdom chart a shared future

Oman and the United Kingdom are consolidating an economic and military partnership in a bid to boost trade.

The UK minister for international trade, recently met with his Omani counterpart and their...

Oman's economic resilience testament to strategies of Vision 40

Oman’s continued strong economic performance demonstrates the Sultanates robust economic policies and strategic Vision 40{_blank} according to a...

Oman issues 2,700 investor residency cards issued to date

Oman’s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) have issued over 2,700 investor resident cards as part of their investor residency scheme.

The Sultanates investor residency...

Oman Cables launches 2nd SHE STEMS programme

Oman Cables Industry (OCI) recently unveiled the 2nd edition of the SHE STEMS programme following up on a Memorandum of Understanding (MOU) with the [Ministry of Higher Education, Research, and Innovation...

Central Bank of Oman unveils fresh fintech strategy

Omans Central Bank (CBO) has released the Fintech Framework and Roadmap to support financial technology (fintech) based products and services. Fintech is one of the fastest growing financial services sectors...

Madayn establishes Centre for Innovation and Entrepreneurship

The Public Establishment for Industrial Estates (Madayn) and the Oman Indian Fertiliser Company (Omifco) recently signed an agreement to establish the Omifco Centre for Innovation and Entrepreneurship...

Salalah Free Zone records OMR 727 million of investment

Salalah Free Zone has signed five new land lease agreements worth a total investment of OMR 727 million (USD 1.88 billion) during the first half of 2023.

Furthermore, the free zone located in Dhofar...

Oman committed to renewable energy to meet demand

Oman is inviting procurement targetting solar and wind capacity to secure at least 30 percent of its electricity from renewable sources...

Oman updates Labour Law to align with Vision 2040

Oman recently announced a major overhaul of the Sultanates labour laws as the government seeks to align its labour market with the Oman Vision 2040.{_blank}

The...

Oman targetting tourism and real estate to diversify economy

Oman`s Ministry of Heritage and Tourism{_blank} has approved 19 integrated tourism licences as the Sultanate progresses with plans to invest OMR 4.4 billion (USD 11.4 billion) in...

Oman launches Sultanates first private cloud data centre

Oman’s first private cloud data centre has been launched in coordination with the Ministry of Transport, Communications and Information Technology (MTCIT).

Consequently [Oman based global integrated...

Oman`s Sohar Freezone facilitating investment

Oman`s Sohar Freezone has extended its competitive rates for businesses seeking to obtain a General Trade License (GTL). This initiative will drive growth by encouraging global enterprises to base themselves...

Oman planning huge IPO listings over next five years

Oman`s Muscat Stock Exchange (MSX) is planning to list 35 state-owned enterprises over the next five years, with several oil companies expected to list this year.

Furthermore [recent interest in the...

Oman records first quarter budget surplus

Oman recorded a huge budget surplus of OMR 450 million (USD 1.17 billion) in the first quarter of 2023 according to data from the Ministry of Finance.

This compared to a surplus of OMR 357 million...

Oman stakeholders take steps to boost entrepreneurship

Oman`s Fund for Development of Youth Projects (Sharakah) recently signed a Memorandum of Understanding (MoU) with the World Business Angels Investment Forum (WBAF).

The economic cooperation agreement...

Oman’s Sur Oasis Incubator welcomes entrepreneurs

Sur Oasis Incubator in Sur Industrial City has welcomed its first cohort of entrepreneurs, innovators and inventors most recently.

The incubator accepted start-ups...

Oman records energy driven budget surplus

Oman recorded a budget surplus of OMR 784 million (USD 2 billion) in the first half of 2022 according to data provided by Oman News Agency (ONA).

The country’s total revenue in the first six months...

More GCC tourists and high hotel occupancy in Oman

The Sultanate of Oman is witnessing a surge of tourists from GCC countries according to the National Centre for Statistics and Information (NCSI).

The increase was most obvious during the months of...

Oman passes regulations for household businesses

Oman`s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has issued a ministerial decision concerning income generating household businesses.

As a result, the new measures will legalise...

Oman promotes investment in green energy sector

Oman Investment Authority (OIA) recently hosted the Renewable Energy Conference to present green energy investment opportunities to the international market.

The conference was jointly organised by...

Oman’s Ibri Industrial City attracts new projects

Madayn, Oman’s Public Establishment for Industrial Estates, has announced the Ibri Industrial City project completion rate has surpassed 27%.

Phase one of the project is being developed in the Wilayat...

Oman plans smart cities in Suhar, Nizwa and Salalah

The Sultanate of Oman`s Ministry of Housing & Urban Planning has launched an innovative initiative to develop three smart cities in different parts of the country.

It has invited international urban...

Key enablers to ramp up Oman’s attractiveness

The Sultanate of Oman is introducing a wide range of innovative incentives to attract foreign direct investment and to boost exports to third countries in the region and beyond.

There are 135 new initiatives...

Madayn to develop waste-to-hydrogen plan in Oman

Oman’s Public Establishment for Industrial Estates{_blank} (Madayn) and H2 Industries recently signed a memorandum of understanding (MoU) to develop a waste-to-hydrogen...

Oman Investment Authority presents priorities

Oman Investment Authority (OIA) operated businesses will invest OMR 6.7 billion (USD 17.4 billion) in projects over the next five years.

The sovereign wealth fund anticipates returns of OMR 2.6 billion...

Sohar Freezone with new incentives for more tenants

Sohar Freezone has introduced new incentives to attract more international investors and create additional jobs in line with the Oman Vision 2040.

The incentives allow new businesses to register online...

Oman’s Madayn launches incubator at Sur Industrial City

The Public Establishment for Industrial Estates also known as Madayn recently launched the Sur Oasis Incubator at Sur Industrial City in Al Sharqiyah governate.

The Sur Oasis incubator is represented...

More industrial lands available in Oman’s Port of Duqm

Oman`s Special Economic Zone at Duqm (Sezad) announced that land is now available as part of its industrial project masterplan.

Sezad offers{_blank} land to attract commercial,...

Madayn attracts more multi-million projects for Oman

Oman`s Public Establishment for Industrial Estates (Madayn) announced that it has registered 130 commercial and service projects during the first quarter of 2022.

The projects have a total value of...

Oman to use budget surplus for priority projects

Oman recorded a budget surplus of OMR 300 million (USD 780 million) during the first quarter of 2022 according to official figures.

The numbers suggest that the country is recovering from the pandemic...

Stakeholders reaffirm support for Oman’s SMEs

Oman’s Public Authority for SME Development (Riyada) and other key stakeholders are continuing their support of small and medium enterprises (SMEs).

Riyada...

New reforms in the financial sector in Oman

The Sultanate of Oman`s Capital Markets Authority (CMA){_blank} has licensed Ethis Investments as the first global Islamic crowdfunding operator.

Recently, the CMA updated crowdfunding...

Oman is planning to supercharge its economy

The Sultanate of Oman recently unveiled several mega construction projects as part of the Vision 2040. The developments offer new investment opportunities for national and international investors in line...

AgriTech can address food security issues in GCC

The countries in the Gulf Cooperation Council (GCC) are increasing their efforts to address issues related to food security by investing in domestic production and embracing innovative agri-tech (or agricultural...

Oman registers over 62,000 SMEs in November

Oman’s Authority for Small and Medium Enterprises Development (Riyada) registered 62,335 small and medium enterprises (SMEs) in November 2021. The figures released by the [National Centre for Statistics...

Oman’s Sohar Port & Freezone announces results

Sohar Port & Freezone has announced positive results for the first quarter of 2021 recording a year-on-year growth across all cargo categories.

The maritime, transport and logistics sector is an important...

Many SMEs registered in Oman in sign of recovery

The country has witnessed an increase in new registrations of small and medium enterprises (SMEs) in a sign of recovery from the pandemic.

The number of new listings at Riyada, the Public Authority...

New measures to strengthen Saudi Arabian relations

His Highness Sultan Haitham Bin Tariq, the Sultan of Oman, visited Saudi Arabia most recently following an invitation by His Highness King Salman Bin Abdul Aziz Al Saud, the Custodian of the Two Holy Mosques...

Oman’s ecosystem for start-ups is expanding

The country’s ecosystem for start-ups and scale-ups benefits from the investments in research, development and innovation....

Oman plans reforms to improve the ease of doing business

The Sultanate of Oman is planning to introduce a number of labour reforms as well as a package with additional economic measures in line with the Oman Vision 2040.

The plans will result in important...

Oman diversifies with research, development and innovation

The Sultanate of Oman is diversifying its economy away from hydrocarbons to ensure more sustainable economic growth....

Launch of Business Start Up Oman

Dear businessmen and women, colleagues, friends and followers!

We are pleased to announce the launch of Business Start Up Oman

It is the next chapter in our...

Oman announces new incentives to attract more foreign investment

The Council of Ministers recently announced new incentives to stimulate the business climate, to attract more foreign investment and to improve the ease of doing business. The move comes as Oman ramps...

The most important conditions for a positive outlook for Oman’s economy

Oman`s future economic outlook is expected to improve according to a statement of His Excellency Dr. Nasser bin Rashid Al Mawali, the Undersecretary of the Ministry of Economy and a Board Member at the...

Oman’s recovery from the pandemic with an outlook and the measures

The Sultanate of Oman has introduced many substantial and meaningful measures to mitigate the economic impact of Covid-19.

It is expected that these measures will be available during 2021 and 2022...