153% surge in industrial applications submitted through Invest Easy

153% surge in industrial applications submitted through Invest Easy

Muscat: The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) said that 4, 981 industrial applications were submitted through the Invest Easy portal in the first quarter of 2021. This is an increase of 152. 5 per cent compared to the 1, 973 industrial applications submitted in the same period of 2020, MoCIIP said in a statement. In this context, the ministry pointed out that, the Sultanate's Industrial Strategy 2040 in collaboration with the other partners in the public and private sectors, aims at seeking investment opportunities in various sectors. This is with a view to strengthen economic diversification, raise the Sultanate's rating in the international indicators, promote foreign direct investment, and boost Oman's exports. The Secretary of the Industrial Register at the MoCIIP, Ibtisam bint Mohammad Al Alawiya clarified that the number of new industrial applications of investment cost less than OMR5, 000, submitted to MoCIIP during the first quarter of 2021, reached 4, 737 applications, compared to 1, 936 applications in the same period in 2020. As for the renewed industrial applications, Ibtisam said that the number of the renewed industrial applications of investment cost less than OMR5, 000 reached 82 applications, compared to 42 applications submitted during