Oman OCCI approves Omani-Bahraini JV company formation

Oman OCCI approves Omani-Bahraini JV company formation

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The Board of Directors of the Oman Chamber of Commerce and Industry (OCCI), a public utility organization, has approved the establishment of a Omani-Bahraini joint venture company with a capital of $26 million.

The approval came at the Board’s sixth meeting for 2021, which was presided over by Engineer Redha bin Juma al Saleh, Chairman of OCCI, and was attended by shareholders from both chambers as well as investors from the two fraternal countries.

The Board also agreed to provide annual funding of $12,988 to the “Made in Oman” campaign. The initiative intends to help Omani products compete locally, regionally, and globally by supporting, developing, and expanding their presence.

The campaign is run by the Ministry of Commerce, Industry and Investment Promotion in partnership with the Authority of Small & Medium-sized Enterprises (SMEs) Development, Consumer Protection Authority, Madalyn and OCCI, as well as representatives from the business community.

OCCI said that the board is currently preparing a comparative study on the fees imposed on the private sector in Oman and the rest of the Gulf Cooperation Council (GCC) countries as well as putting forward some recommendations to strengthen the economy and empower the private sector. 

The meeting also discussed the aspirations of the private