Oman announces regulations for foreign capital investment – Times of Oman

Oman announces regulations for foreign capital investment – Times of Oman

Muscat: The Ministry of Commerce and Industry has announced executive regulations of the Foreign Capital Investment Law wherein a foreign investor can get a single approval to set up, operate and manage an investment project.. The article three determines the date of implementation of the executive regulations of the Foreign Capital Investment Law, that it will be applied from the day following the date of its publication in the Official Gazette.. Mohammed bin Rashid bin Muhammad Al Badi, Acting Director of the Legal Department of the Ministry of Commerce and Industry, said, "The executive regulations of the Foreign Capital Investment Law will provide an environment which is attractive for investment.. It will also create appropriate conditions for investment in Oman, as it has detailed the necessary procedures for registering foreign institutions and companies, terms and conditions, timeframe for approvals, permits and licenses related to the investment projects; all this by applying Foreign Capital Investment Law.". Investment projectsMohammed Al Badi said, "The Article 2 of the executive regulations of the Foreign Capital Investment Law stipulates that the competent authority should prepare a register listing all licensed investment projects, approvals, permits and licenses issued for them.. The offices can submit the applications