MUSCAT: The Ministry of Commerce, Industry and Investment Promotion has unveiled several significant initiatives aimed at enhancing the business climate and encouraging investment across the Sultanate. Central to these efforts is the Golden Residency program for investors, designed to attract long-term foreign investment and provide residency benefits to qualified individuals. This initiative reflects Oman’s commitment to creating a more competitive and investor-friendly environment, signaling confidence in the country’s economic growth potential.
Alongside the Golden Residency program, the Ministry has introduced the Outstanding Companies initiative, which seeks to recognize and reward companies demonstrating exceptional performance, innovation, and contribution to the national economy. By highlighting exemplary business practices, the program aims to motivate other enterprises to enhance operational efficiency, corporate governance, and sustainability standards. This initiative is expected to strengthen Oman’s private sector and foster a culture of excellence among businesses.
In addition to these programs, the Ministry has rolled out a new digital service for commercial registration transfers. This service streamlines administrative procedures, reduces bureaucratic delays, and facilitates smoother business transactions. By leveraging technology, the Ministry intends to make regulatory processes more transparent, efficient, and accessible to both local and foreign investors, enhancing overall investor confidence and encouraging entrepreneurship.
Experts note that these combined efforts reflect Oman’s broader economic diversification strategy under Vision 2040, emphasizing private sector growth, foreign investment, and digital transformation. The initiatives are expected to create new opportunities for investors, promote innovation, and reinforce Oman’s position as a regional business hub. By integrating recognition programs, residency incentives, and digital services, the Ministry demonstrates a proactive approach to fostering a dynamic and resilient economic landscape.
