News

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 for Small and Medium Enterprises Development, amounted to 53,166 at the end of May 2021 compared to 44,197 at the end of May 2020.

The most recent data from the [National Centre for Statistics and...

30/09/21

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 in the Kingdom of the Saudi Arabia.

The Sultan’s visit was his first foreign trip since becoming Oman’s leader at the beginning of 2020 and was...

23/09/21

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. It is expanding in line with the objectives to diversify Oman’s economy and to drive the participation of the private sector.

The establishment of the Oman Technology Fund (OTF)...

16/09/21

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 changes to the labour law and shall include the withdrawal of the No Objection Certificate (NOC) practice which will enable expatriates and foreign workers to move more easily between jobs upon the completion...

09/09/21

Oman diversifies with research, development and innovation

The Sultanate of Oman is diversifying its economy away from hydrocarbons to ensure more sustainable economic growth. The International Monetary Fund (IMF) believes that GDP of the GCC countries will rebound by 2.1 percent in 2021 (supported by non-oil growth).

Oman is expected to introduce a new five-year plan...

02/09/21

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 journey to become a key stakeholder in the (business) ecosystem in the Sultanate of Oman and to remain a central point of contact for creative individuals, entrepreneurial ventures, innovative start-ups...

11/07/21

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 up the efforts to diversify the sources of income away from oil and gas which makes up the bulk of the state revenue at the moment.

The plans include a long-term urban growth strategy which is considered...

23/06/21

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 Investment Authority.

The latest statistics published by the Ministry of Economy indicate that the government debt is expected to stabilise due to greater production levels and higher oil prices....

23/06/21

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 with a review by the Council of Ministers at a later date.

Oman was hit hard by the pandemic and especially affected by the fluctuations in oil prices. The International Monetary Fund (IMF) recently...

23/06/21