Description
Oman actively seeks foreign direct investment and is in the process of improving the regulatory framework to encourage such investments. The Public Authority for Investment Promotion and Export Development (Ithraa) is tasked with attracting foreign investors and smoothing the path for business formation and private sector development. Ithraa provides prospective foreign investors with information on government regulations, which are not always transparent and sometimes inconsistent. Although the Ministry of Commerce and Industry (MOCI) has established a One-Stop Shop (business.gov.om) for government clearances, including the new Invest Easy online business registration system, the approval process for establishing a business can be slow, particularly with respect to environmental permitting and expatriate worker visa approvals.
