Muscat: More than 7,000 commercial registrations in the Sultanate of Oman by investors from GCC states have been reported by the end of the first three months of the year, official data has revealed.
According to the Ministry of Commerce, Industry and Investment Promotion, the number of commercial registrations for investors from these states in Oman amounted to 7,068 by end of first quarter of 2022.
The Ministry, represented by the Information, Data and Statistics Department showed that the number of commercial registrations of UAE investors registered during the first quarter 2022 amounted to 49 bringing the total commercial registrations of UAE investors to 3,405 commercial registrations.
The number of commercial registrations registered for Saudi investors amounted to 45 during the first quarter 2022 bringing the total commercial registrations of Saudi investors to 1,259.
The number of commercial registrations registered for Bahraini investors amounted to 12 during the first quarter 2022 bringing the total commercial registrations of Bahraini investors to 942.
Similarly, the number of commercial registrations registered for Kuwait investors amounted to 20 during the first quarter 2022 bringing the total commercial registrations of Kuwaiti investors to 952.
And finally, the number of commercial registrations for Qatari investors during the same period stood at 15 bringing the total number of commercial registrations for Qatari investors to 510.
The Ministry of Commerce, Industry and Investment Promotion reaffirmed that its action plan is consistent with Oman Vision 2040 which aimed at diversification, economic growth and upgrading the Sultanate’s rating in relation to international indices and in-country value added. It also aims for enhancement of direct foreign investment and balanced development in the various governorates and enhancement and diversification of exports.
The Ministry of Commerce, Industry and Investment Promotion pointed to the fact that the initiatives and plans the ministry introduced during the past period aimed to facilitate the procedures and to contribute to promotion of investment opportunities and to attraction of qualitative investments in the economic diversifications sectors.
The initiative and plans also aimed to create the environment appropriate for the success and development of all investments and to empower and encourage the private sector to invest along with enhancement of in-country value programmes in partnership with the private sector and to boost the share of the Omani products in the market and to develop competitive business environment among other objectives.