Oman eases business registration

KARACHI: Redha Al-Saleh, chairman of Oman Chamber of Commerce and Industry (OCCI), on Friday said Oman had relaxed rules and regulations to encourage foreign investment, ensuring registration of overseas businesses within 48 hours.

He was speaking at inaugural session of Pakistan-Oman Joint Business Council at Pakistan Chambers of Commerce & Industry (FPCCI) house.

“Oman is interested in importing more of textile products, meat & livestock, fruits & vegetable, surgical goods and skilled & semi-skilled workforce from Pakistan,” he said.

He added that IT sector of Pakistan was another area of cooperation, investments, and joint ventures between the two countries.

He said the rules and regulations in Oman had been relaxed to encourage foreign investment and entrepreneurs could register their businesses in Oman within 48 hours.

He mentioned that foreigners did not need to have a mandatory ownership of an Omani national to start their business in Oman like before and, on top of that, taxes were on a lower side in as compared to many competing markets.