Oman Achieves Competitive Levels in Business Start-upsMuscat, 11 Oct (ONA) — The Sultanate of Oman has achieved competitive levels in business start-ups, with recent indicators showing that the average period to establish a company has dropped to 4–5 days compared to 10 days in some countries of the region. The process now requires only four main procedures without any minimum capital requirement, and licence fees do not exceed 3% of the average individual income, compared to as much as 17% in other countries.These reforms underline Oman’s rapid progress toward consolidating its position as an attractive investment destination, driven by broad legislative and regulatory reforms and innovative digital transformations that have enhanced the flexibility and efficiency of the business environment in line with the goals of Oman Vision 2040.Company establishment procedures in the Sultanate of Oman are organised and transparent, featuring a clear and accessible sequence of steps that make it easier for both local and foreign investors to start their ventures. The process begins via Oman Business Platform operated by the Ministry of Commerce, Industry and Investment Promotion, where investors create an account on the platform. The system allows residents to register using their electronic ID cards, while foreign investors may register using their email addresses. In some cases, electronic identity verification may be required to ensure the accuracy and reliability of investor data.Efforts to facilitate business start-ups are part of the National Programme for the Development of the Private Sector and Foreign Trade, supervised by the Minister of Commerce, Industry and Investment Promotion, in cooperation with the Oman Vision 2040 Implementation Follow-up Unit and the Ministry of Economy.A national taskforce has also been established to improve the Business Readiness Index, chaired by the National Competitiveness Committee and comprising ministers, undersecretaries, and private-sector representatives. The main goal is to position the Sultanate of Oman as an active business hub and competitive investment destination by stimulating the private sector, promoting exports, and strengthening partnerships with government entities, alongside various initiatives and incentives that support investments and expand foreign trade.The National Programme for the Development of the Private Sector and Foreign Trade (Nazdaher) is among the most prominent strategic initiatives supporting the national economy in alignment with Oman Vision 2040. Launched under the Tenth Five-Year Plan (2021–2025) as the National Programme for Investment and Export Development, it aims to attract investments and boost Omani exports by creating an enabling business environment and expanding partnerships locally and internationally. The programme is based on empowering the private sector to become the main driver of economic growth through simplified procedures and enhanced legislative and regulatory frameworks.In 2024, the programme underwent a strategic transformation, becoming the National Programme for the Development of the Private Sector and Foreign Trade, which will continue until 2026. It focuses on four key areas: enhancing the competitiveness of Omani companies in global markets, improving the efficiency of utilising trade agreements and strengthening negotiation capabilities, developing local value chains, and enabling the private sector to participate in shaping economic decisions.At present, the programme focuses on 15 priority projects covering tourism, mining, manufacturing, food security, and aviation. Since its inception, it has launched several major initiatives to ensure investment ecosystem readiness, including the Invest in Oman Lounge, the Fast-Track Initiative, the Permanent Residency Scheme, the National Investment Strategy, the Investment Map, and the Investment Incentives Guide.Oman’s business environment attaches great importance to digital transformation as a core driver for accelerating economic growth and facilitating business operations. Digitalisation has helped simplify start-up procedures through unified smart platforms that reduce time and effort for investors while providing a transparent and efficient ecosystem. It also strengthens connectivity between government entities and the private sector, offering integrated services that extend from company registration to licensing and financing. The adoption of modern technologies and artificial intelligence has further enhanced Oman’s regional and global competitiveness and made it a more attractive investment destination.Mubarak Mohammed Al Dohani, Director General of Planning and Head of the Digital Transformation Team at the Ministry of Commerce, Industry and Investment Promotion, affirmed that the ministry has launched unified digital platforms integrating more than 50 electronic services, ranging from company registration and trade name reservation to commercial record issuance and licensing, by linking over 17 government entities under a single framework.He added that the Oman Business Platform leads these efforts, providing a full suite of services, including commercial registration and cancellation, licensing, certificates of origin, intellectual property services, commercial permits, agency management, and company liquidation, within a unified and user-friendly digital ecosystem. The platform’s digital service rate has reached 76.5%, while 89% of commercial activities are licensed automatically. Since its launch in April 2021, the platform has issued more than 1.263 million licences as of the end of the first half of 2025.The programme also prioritises the participation of national talent across all economic sectors in line with the goals of Oman Vision 2040.Sustainable employment opportunities and qualified national talent are key to ensuring the stability and growth of private-sector institutions, aligning education outputs with labour market needs, and providing a stimulating and attractive work environment, said Al Dohani, noting that empowering national talent remains a cornerstone for building a knowledge- and innovation-based economy.In this regard, Saqr Said Al Rubaiyi, Director of Employment Application Analysis and Job Opportunities at the Ministry of Labour, said that the ministry has adopted training programmes and policies to enhance the employment of national talent in the local market. This includes financial support mechanisms for hiring Omanis, such as wage subsidies covering a portion of salaries for one to two years, and training and qualification programmes such as training-for-employment and on-the-job training initiatives.The programme, he added, also attaches great importance to special economic zones and free zones as strategic partners in strengthening Oman’s business environment and expanding its investment base. These zones offer integrated infrastructure and competitive incentives that enhance Oman’s attractiveness for regional and international investments while adopting digital solutions to streamline procedures and efficiently serve investors.Meanwhile, Dr. Said Khalifa Al Quraini, Director General of Investment Sector Development and Official Spokesperson of the Public Authority for Special Economic Zones and Free Zones (OPAZ), emphasised that these zones and industrial cities form a fundamental pillar in reinforcing Oman’s position on the global investment map. They offer competitive advantages such as a strategic geographic location, advanced infrastructure, diverse natural resources, and cost-efficient operations, including 100% foreign ownership, long-term tax and customs exemptions, and a flexible investment environment characterised by swift procedures and integrated services.He added that land lease costs are highly competitive, supported by various facilitation measures, exemptions, and incentives. These include income tax exemptions of up to 30 years, customs exemptions on imported equipment and raw materials, reduced land rent fees for the initial years, and affordable service charges provided by OPAZ. All services are offered through a single electronic window, enhancing the attractiveness of these zones to investors seeking a low-cost, high-value business environment.— Ends/AH