Al-Watan, 2 September 2024: The Commerce, Industry and Investment Promotion Ministry has issued a decision to amend certain provisions of Oman Ministerial Decision No. 209/2020 on the specification of activities in which foreign investment is prohibited, limiting them to Omani investors only.

The aim is to stimulate local investment by allowing Omanis to establish projects in these activities and attract qualitative investments that enhance the business environment and competitiveness.

The decision, aligned with the Foreign Capital Investment Law, prioritises empowering small and medium enterprises that contribute to the Omani economy.

It serves as an incentive for Omanis to establish their own projects and create new job opportunities, as Omani investors can invest in all activities where foreign investment is prohibited.

This ensures that projects and activities related to national identity and Omani heritage remain unaffected.

Additionally, this decision regulates the foreign investment process by directing it towards activities that improve targeted sectors to achieve economic diversification.

It ensures that foreign investors benefit the national economy while achieving profitability during their operations.

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