The Ministry of Trade, Industry and Investment Promotion in the Sultanate of Oman announced that last year the volume of the Sultanate's foreign trade reached about $38 billion. Indicating that the total volume of FDI in the Sultanate of the most important countries until the end of the first quarter of 2020, which is represented in the United Kingdom, the United Arab Emirates, Kuwait, Qatar, India, Bahrain, the Netherlands and Switzerland, amounted to 15.65 billion riyals.
The official data showed an increase in foreign direct investment in the Sultanate of Oman during 2020 by 6 percent compared to the previous year, reaching 14.2 billion Omani riyals (about 36.92 billion dollars).
The Minister of Trade, Industry and Investment Promotion, Qais Al-Youssef, affirmed that "the past period witnessed a number of facilities being made in relation to the commercial registry, and the registration of the companies subject to the foreign capital law by 100 percent," noting that "the issuance of investor licenses has been facilitated through the merging of licenses and approvals in a single license issued through the online portal "Invest Easy", as well as obtaining an automatic approval, where the investor can start to work directly on the project, while inspections are carried out at a later time by the relevant government agencies.
Source (London-based Al-Arab Newspaper, Edited)
