Businessmen hail Oman's licence e-approval service

MUSCAT: Investors and businessmen are contented with the Oman’s licence e-approval service as Invest Easy portal and SANAD have seen 24,664 submissions for automatic license approval since the launch of the service on 4th of April.

According to a statement issued by the Oman’s Ministry of Commerce, Industry and Investment Promotion (MoCIIP), besides Oman, India, Iran, Pakistan, Yemen, Syria, Bangladesh, UAE, Egypt and Iraq are the top countries to utilise the service.

The investors believed that the e-approval service would favour growth and diversification of the national economy.

Said bin Nasser Al-Maeini, a local investor, was of the view that the service saves time and effort for investors and businessmen like him.

 “It is an efficient service launched by MoCIIP, in cooperation with the other government entities concerned. It allows investors to obtain a unified licence in under 24 hours,” he said.

Al-Maeini said that this service would facilitate local and foreign investment in Oman.

Suleiman bin Nasser Al-Siyabi, another businessman, shared a similar view. He called on officials and decision-makers in the government and private sector to speed up electronic transformation, Times of Oman, reported.

“Electronic services have become a primary requirement among investors to identify investment opportunities in Oman,” he added.

It is pertinent to mention here that an investor, through this service, can obtain approvals of more than 1,500 economic activities, constituting 88 per cent of all economic activity, across the sectors of agriculture and animal husbandry, fishing, manufacturing, repair of vehicles, wholesale and retail, transportation and others.