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
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
Why not start your own business in Oman? It’s a great place to do business. Oman has been trying to increase the variety of business opportunities in the country by making it easy for foreign investors to set up shop in the Sultanate. If you think your next business opportunity is in Oman, you can use this 7-step guide to help you register your company. Choosing the Right Company Structure There are a few different types of business entities in Oman from which
MUSCAT: Eng Salim bin Nasser al Aufi, the Minister of Energy and Minerals, said here on Tuesday that supporting regulations for Oman’s new green hydrogen industry should be out by the end of the first quarter of 2023. At the Green Hydrogen Summit Oman 2022, which is taking place in the city, Al Aufi urged interested investors to go ahead and register their interest on a new platform set up by the Omani government to make sure that green hydrogen projects
The Dh10 billion investment alliance between Abu Dhabi holding company ADQ and Oman Investment Authority will go after a number of different sectors. ADQ made a separate deal with Oman’s Information, Communication, and Technology Group, a wholly-owned subsidiary of OIA, for a Dh592 million venture capital fund to invest in high-growth tech companies in Oman. They also found “preliminary investments” worth more than Dh30 billion that need to be evaluated further in new projects in Oman in areas like hydrogen, solar
All GCC residents, no matter what they do for a living, can now enter Oman from any border for business, tourism, or any other reason. Local media said that residents still need visas, which they can get when they arrive at any GCC border post. According to a circular from Oman Airports, Oman currently lets all GCC residents with a valid residence and work visa from the UAE, Bahrain, Kuwait, Saudi Arabia, or Qatar, no matter what they do for a living,