Trade:

Sub Section: Trade & Industry Oman Chamber of Commerce

The Omanis have been traders since ancient times. Their ships and caravans carried Omani goods - including frankincense, dates and limes - across the seas and over the old frankincense and silk routes, promoting ties and cultural exchanges with other peoples.

Today, Oman is a member of several economic blocs including the Arab Gulf Co- operation Council (AGCC), the Greater Arab Free Trade Zone, the Indian Ocean Rim Association for Regional Cooperation (IORARC) and the World Trade Organisation (WTO).

The Sultanate has upgraded its laws on investment activity and has introduced “One Stop Shop” clearance facilities along with simplified, transparent procedures. There is close coordination between the bodies and authorities involved in providing services for investors, while current moves towards the establishment of e-government have led to a growing reliance on electronic channels. Commercial laws and regulations are being streamlined, including the Law on Trade Marks, Descriptions, Trade Secrets and Protection against Unfair Competition, the regulation of foreign trade representation offices, the Consumer Protection Law and the Law on the Protection of Intellectual Property. Alongside these measures, the country has also upgraded its ports and established free trade zones in al Mazyounah and Salalah.

Omani goods are exported to the markets to world countries. Government authorities and departments give priority to Omani products when making purchases and Omani goods are actively promoted in the local market through seminars and exhibitions.

Broader promotion campaigns are also held in the regional and world markets, where Omani products have already begun to make their mark because of their high quality specifications.The Ministry of Commerce and Industry was granted a certificate by the United Kingdom’s Human Investment Programme, recognizing it as an investor in human resources.

Industry:

The industrial sector is a cornerstone of the Sultanate’s long-term (1996-2020) development strategy. Industry is not only one of the main sectors involved in diversifying the sources of national income and reducing dependence on oil; it is also capable of helping to meet Oman’s social development needs and generate greater added value for national resources by processing them into manufactured products.

Eighth Five-Year Development Plan (2011-2015)
creates the conditions for an attractive investment climate. Under its strategy for the industrial sector the government also aims to develop the information technology (IT) and telecommunications industries. The IT infrastructure is already in place; The Knowledge Oasis Muscat (KOM) IT complex has been set up and expanded, and Omani companies are developing their technological potential . An Information Technology Authority (ITA)  established in 2006 (under Royal Decree No. 52/2006) will promote infrastructure projects for Oman’s digital advancement and oversee implementation of IT projects in every department of the state’s administrative apparatus. The Rusayl Industrial Estate in the Governorate of Muscat - the Sultanate’s first Industrial Estate  - is home to a large number of factories as well as Knowledge Oasis Muscat (KOM).

There is also an industrial estate in Sohar - where the Sultanate’s heavy industries are based - as well as other estates in Sur, Salalah, Nizwa and Buraimi. Natural gas is transported to the industrial estates in Sohar and Salalah, helping to promote expansion of those industries that depend on natural gas; the government grants these industries tax exemptions, as an incentive to encourage their expansion and development. The Sultan’s Cup is awarded annually to the top five Omani factories. This event is designed to encourage Omani factories to keep abreast of the latest technology, comply with quality control specifications and increase the percentage of Omanis in their workforce.