12.04.2023
The Foreign Minister, Sayyid Badr Hamad Al Busaidi, met with the Foreign Minister of the Federal Republic of Germany, Annalena Baerbock, in Berlin. Sayyid went to Badr to take part in the Berlin Energy Transition Dialogue 2023. This meeting was part of that trip. At the meeting, they talked about how friendly and helpful the relationship between Oman and Germany is. You will be interested on: Updated Tax Guide doing Business in Oman At the meeting,
SpaceVIP, an international space tourism company based in the US, is starting to do business in the Middle East. This is good news for the Sultanate of Oman, whose government wants to jumpstart the development of a domestic space industry. Early this year, the Ministry of Transport, Communications, and Information Technology put out an ambitious plan for the executive space industry and policies. The programme puts a lot of focus on space tourism in Oman. You will be
Muscat: The Consumer Protection Authority (CPA) of the Sultanate of Oman has put in place a new price monitoring system at more than 20 shopping malls. The goal is to give shoppers a better shopping experience. On Monday, March 27, 2023, the Consumer Protection Authority started using a new system called “Price Monitor“. This system has a database and information about more than 750,000 food and luxury items in 21 commercial centres in the Muscat
Muscat: About 2.3 million metric tonnes of plastic are thrown away every year in the Sultanate of Oman, which is more than any other recyclable material. A report issued by be’ah (Oman Environmental Services Holding Company) as part of the company’s Sustainability Report for 2022 says that if the waste can be recycled locally, OMR530 million can be made per year. The study found that plastic garbage is by far the most destructive to the environment since
Oman’s Civil Aviation Authority (CAA) is also working on other aviation initiatives to improve the sector. The Oman Civil Aviation Authority (CAA) has started that work on Muscat International Airport’s southern runway and taxiways is going well, according to a story in the Oman Observer that was based on a media briefing. According to the article, the airport is being built at a cost of more than RO 21 million ($54.4 million). The new runway, which will be Muscat’s second of its
The Income Tax Law aims to tax the worldwide income of companies based in Oman as well as the income that comes from Oman for branches and other types of permanent establishments. The rate of income tax is the same for all business entities, whether they are registered or not and whether they are corporations or not. All taxpayers except Omani proprietorships (called “establishments”) and limited liability companies (LLCs) that meet the criteria for
Local license in Oman As part of a plan to improve its economy, Oman announced in 2020 a new law called the Foreign Capital Investment Law (FCIL). This law lets companies that are owned by foreigners operate in Oman. The minimum share capital requirement was also taken away by the new FCIL. To start a limited liability company, foreign companies and people must have an Omani national partner with at least a 30% stake in 37 protected sectors.
Background Oman, which is also called the Sultanate of Oman, is an Arab country in Western Asia. It is on the southeast coast of the Arabian Peninsula. At the mouth of the Persian Gulf, the country is in a strategically important location. It has land borders with the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. It also has sea borders with Iran and Pakistan. The Arabian Sea to the southeast and the
Minerals Development Oman (MDO) is happy that 12 Royal Decrees have been issued to approve mining concession agreements. These 12 Royal Decrees give MDO 12 concession areas for exploration and mining. The pacts are in line with the newly adopted strategy of the Ministry of Energy and Minerals to develop the minerals sector through concession agreements that include legal, technical, and financial terms to be signed between the Ministry and investors as an investment management method to
The Korea-Oman Green Hydrogen Strategy Forum 2022 was held at the OCEC (Oman Convention and Exhibition Center) on December 5, 2022. It was put on by the Korean Embassy and the H2KOREA (Hydrogen Convergence Alliance of Korea). Sponsors from Oman and Korea, like HyFly, Birba Energy, and KOTRA, helped pay for the Forum. Keep reading: Company Registration Process in Oman Salim al Aufi, the Minister of Energy and Minerals, was there, as were officials from the Ministry
