Oman’s Chamber of Commerce and Industry (OCCI) has unveiled 14 strategic initiatives designed to enhance the national business environment. Such initiatives, developed in collaboration with the Oman Vision 2040 Implementation Follow-up Unit aim to foster economic diversification and support the development of Oman’s governorates.
Fourteen New Initiatives Comprising Three Pillars
Notably, the 14 initiatives are structured around three core pillars. Each pillar addresses specific challenges and opportunities within Oman’s economic landscape.
1. Improving the Business Environment:
The first pillar focuses on creating a more conducive business environment. Key initiatives include:
- Smart Guide to Commercial and Investment Legislation: A digital platform that consolidates all relevant laws and regulations.
- Technical Team for Economic Laws Review: A cross-sectoral team to review economic regulations.
- Private Sector Conference: A platform for public-private dialogue.
- Chamber’s Events Guide: A comprehensive calendar of planned events.
- Strengthening Public-private Partnerships: Regular meetings and incentives to improve the investment environment.
- Centre for Economic Research and Studies: A research hub providing specialised studies.
2. Partnership in Economic Development of Governorates
The second pillar aims to decentralise economic growth by empowering governorates.
- Takamul Initiative: Enhancing collaboration between OCCI branches and governorate offices.
- Opportunities Initiative: Identifying investment opportunities in each governorate.
- Support and Establishment Initiative: Facilitating the establishment of companies.
- Empowerment Initiative: Training programmes for local small and medium enterprises (SMES).
3. Expanding the Economic Diversification Base
The third pillar seeks to reduce Oman’s reliance on oil revenues by diversifying its economy.
- Mazaya Initiative: Reviewing and proposing competitive investment incentives.
- Delegations Initiative: Developing a regulatory framework for managing trade delegations.
- Global Connection Initiative: A digital platform to streamline trade delegations and events.
- Omani Industries Project: Promoting Omani products in international markets.
The Oman Vision 2040 Implementation Follow-up office oversees progress of all strategic projects, ensuring they are successfully executed.
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