Other BriefingsOman Launches Three Digital Services to Streamline Business Operations
The three new digital services launched on the Oman Business Platform are the Rental Contracts Service, the Financial Reports Service, and the Interactive Guide for Trade Names.
In a strategic move to bolster Oman’s business environment and attract investments, the Ministry of Commerce, Industry, and Investment Promotion (MoCIIP), in collaboration with Muscat Municipality, has introduced three key digital services on the Oman Business Platform. These services—the Rental Contracts Service, the Financial Reports Service, and the Interactive Guide for Trade Names—aim to simplify business processes and enhance the ease of doing business in the country.
Dr. Saleh bin Saeed Masan, Undersecretary for Commerce and Industry, highlighted that the Oman Business Platform now integrates with 32 government agencies for data exchange and 14 for licensing procedures. These connections form the backbone of the Ministry’s broader digital transformation initiative.
“These services are designed to expedite and simplify business procedures, enhancing the overall ease of doing business in Oman,” Dr. Masan stated.
Key features of the new services
- Rental Contracts Service: This service enables businesses to register and terminate rental / lease agreements seamlessly through a unified platform. By automating these processes, it reduces paperwork, minimizes errors, and promotes transparency, aligning with the issuance of economic activity licenses.
- Financial Reports Service: Companies can now submit their annual financial data electronically, ensuring efficiency and accuracy in compliance reporting.
- Interactive Guide for Trade Names: This tool facilitates the selection and registration of trade names, providing a user-friendly interface for entrepreneurs.
Ahmed bin Mohammed Al Humaidi, Chairman of Muscat Municipality, emphasized that these digital services signify a leap forward in fostering innovation within Oman’s business landscape. The integrated digital ecosystem, supported by the Oman Business Platform, connects 35 government entities and the Oman Chamber of Commerce and Industry.
Mubarak bin Mohammed Al Duhani, Director General of Planning at MoCIIP, reported that the platform facilitated over 122,000 transactions by the end of Q3 2024, marking a 17.43 percent increase from the previous year.
Nasra bint Sultan Al Habsi, Director General of Commerce at MoCIIP, noted that the platform had registered 446,792 commercial records by Q3 2024.
The Ministry’s ongoing efforts to expand electronic services reflect Oman’s strategy to create a conducive environment for investors and businesses. The new services are expected to not only save time and effort but also provide real-time data for judicial and administrative purposes.
Summary
The launch of the three new digital services indicates Oman’s dedication to fostering a digitally advanced economy that aligns with international best practices. By supporting the streamlining of business operation compliance requirements, the initiative is set to attract greater foreign investment and drive sustainable economic growth.
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