BYLAW ON FOREIGN INVESTMENT DEALS

The Ministry of Commerce, Industry and Investment Promotion issued Ministerial Decision No 574/2022 promulgating the “Bylaw on Regulating Offices for Endorsement of Foreign Investors’ Applications. The bylaw seeks to establish an investment-attractive climate by facilitating procedures on obtaining approvals, permits and licenses for investment projects. It also aims to attract quality investments that contribute to the growth of the domestic product, besides creating employment opportunities. The bylaw will help boost the national economy, enhance economic diversification sectors in line with Oman Vision 2040, bearing in mind all security, legal, social and economic dimensions.