Oman Business Platform hits record transactions in H1 2024

10/09/24

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 six months of the year, 195,556 automatic license approvals were granted, while 6,061 non-automatic licenses were issued. Additionally, 2,747 e-commerce licenses were issued by the ministry across the same period, according to the Oman News Agency.

The Oman Business Platform is designed to improve, streamline and simplify business startup procedures for investors by offering a single access point to all e-government services while ensuring international best practice. In addition, the platform is designed to encourage local, regional and international investment and aims to strengthen economic activity across all sectors. As a result, it contributes to a more efficient business environment, achieving faster results for investors and provides self-service options for those looking to start businesses from outside the Sultanate of Oman.

The Oman Business Platform currently offers 50 electronic services to investors. Further Ministry of Commerce, Industry and Investment Promotion statistics show an increase in downloads of the Oman Business Platform application, with 7,245 downloads recorded – 3,209 on the Android version and 4,036 on the iOS version.

Most importantly, the platform offers essential information and services that allow investors to complete transactions easily and smoothly. Currently, in a bid to attract investors the platform offers reduced fees for the foreign investment register. Recently, a service for changing the legal form from a sole proprietorship to a commercial company was launched, along with a service for evaluating user satisfaction with self-services on the platform.

Business Start Up Oman offers a network of experts and specialists within the lifecycle of a business. We offer expertise in Market Research and Assessment Oman, Oman Business Case, Oman Business Model Development, Feasibility Study and Business Plan Oman, Organizational and Operational Structuring Oman, Oman Sponsorship and Partnership, Company Formation Oman among others.

Please click on the link to learn more about the opportunities and possibilities in the Sultanate of Oman as well as the initiatives of Business Start Up Oman.