Royal Decree to establish arbitration centre hailed

MUSCAT: Qais bin Mohammed al Yousef, Chairman of the Board of Directors of Oman Chamber of Commerce and Industry (OCCI), expressed the gratitude of OCCI Board of Directors, OCCI Boards of Director in the governorates in the Sultanate and the institutions and companies in the Omani private sector to His Majesty Sultan Qaboos for issuing the Royal Decree to establish a special Oman Commercial Arbitration Centre, affiliated to OCCI, and enjoys legal personality and financial and administrative independence.

He stressed in a statement that the establishment of Oman Commercial Arbitration Centre is a demand of the private sector and has been achieved thanks to the generous support of His Majesty the Sultan, who always overwhelms the private sector with His generosity, attention and care, out of the belief of His Majesty in the importance of the role of the sector in the process of comprehensive development and human development over the years of the blessed Renaissance and the increase of that role during the next stage.

He added that the establishment of the centre will support the distinctive legislative and investment environment of the Sultanate and will attract capital and investments.

He praised and thanked the efforts exerted by the various concerned government bodies and OCCI’S previous administrations to establish the centre, as achievements of economic and legislative development in the Sultanate under the wise leadership of His Majesty Sultan Qaboos.

The establishment of Oman Commercial Arbitration Centre is a demand of the private sector and has been achieved thanks to the generous support of His Majesty the Sultan