MUSCAT: His Majesty Sultan Haitham bin Tarik has issued three pivotal royal decrees that emphasize Oman’s ongoing commitment to infrastructure development, economic growth, and international collaboration. The first decree amends Royal Decree No. 3/2015, granting public utility status to the initial phase of the railway project linking Al Buraimi Governorate to Sohar Wilayat. This strategic decision highlights Oman’s focus on creating an integrated transport and logistics network that aligns with the objectives of Oman Vision 2040, enhancing connectivity and supporting long-term economic development.
The second decree ratifies a landmark agreement between the governments of Oman and Bahrain on the elimination of double taxation and the prevention of tax evasion and avoidance concerning income taxes. This agreement is expected to strengthen cross-border trade, encourage foreign investment, and deepen economic cooperation between the two Gulf nations. Experts believe that this will improve investor confidence and facilitate smoother financial transactions, promoting a more competitive business environment in the region.
The third decree ratifies an agreement between the Sultanate of Oman and the Islamic Republic of Iran concerning the mutual encouragement and protection of investments. By providing legal safeguards for investors, this decree reinforces Oman’s investment climate, making it more attractive to foreign enterprises while supporting economic collaboration with Iran. This move reflects Oman’s proactive approach to fostering regional partnerships and securing sustainable investment opportunities that contribute to national development goals.
Collectively, these royal decrees underscore the Sultanate’s multifaceted approach to national growth, combining strategic infrastructure projects with international economic agreements. They signal a continued commitment to modernization, legal transparency, and international cooperation, positioning Oman as a stable and attractive hub for both domestic and foreign investors. Analysts note that these measures will not only enhance economic activity but also strengthen Oman’s role as a key regional player in trade, transport, and investment.
