State Council Office approves proposal on knowledge economy

MUSCAT: A proposal to facilitate creation of a knowledge economy was approved by the State Council Office on Monday.

The State Council Office held its 13th meeting for the 2nd annual sitting of the 6th term in the council building in Al Bustan under the chair of Dr. Yahya bin Mahfoudh Al Mantheri, Chairman of the State Council. The Chairman of the State Council at the outset of the meeting, conveyed his sincere congratulations to His Majesty Sultan Qaboos bin Said on the occasion of the 47th anniversary of the Glorious National Day, wishing the Almighty to return this occasion on His Majesty with good health and wellness. The Council’s Office approved the subject presented by the Knowledge Economy Working Group on the “Proposal of the State Council to Establish Waqf that contributes to the transformation of the knowledge economy” after discussion.

The Office discussed the proposals submitted by the Economic Committee, including its study on the establishment of free zones in the Governorates of Al Buraimi and Musandam. The Office also discussed the committee’s proposals for consideration during the third annual sitting of the sixth term, which is a study on the integration of the standard of living and productivity, and potentials of enhancing the independence of the national economy.

The Office reviewed a report on “Value Added Tax Advantages and Potential Impacts on the Omani Economy” and decided to forward it to the next plenary session for an overview. Full story @ timesofoman.com/oman