Oman sets up office to speed up project approvals

MUSCAT: A separate office for speeding up the licencing process for strategic projects that involve investments of over OMR10 million has been set up by the Ministry of Commerce and Industry.

The new office, in coordination with Ministry of Manpower, Ministry of Housing, Ministry of Environment and Climate Affairs, Ministry of Regional Municipalities and Water Resources, Ministry of Tourism, Municipality of Muscat, Municipality of Dhofar and the Royal Oman Police, will specialise in following up the issuance of licenses, starting with strategic projects, with an initial investment exceeding OMR10 million.

Khamis Al Farsi, director general of Commerce at the Ministry, said the office aims to increase the size of private sector investments through direct contact with officials from different government bodies, which would help facilitate the issuance of investment licenses.

Setting up the office comes as an initial step, which will be expanded in future to include other categories, said Al Farsi, adding that he hoped everyone would cooperate with this office.

The director general also invited all Omani and foreign investors, who have projects that cost over than OMR10 million to visit the office, which was opened recently in the ministry’s main building to facilitate investment procedures.