Shura Council Continues Deliberations on the Statement by H.E. the Minister of Commerce, Industry, and Investment Promotion

The Shura Council continued, for the second consecutive day, its discussions on the ministerial statement presented by H.E. Qais Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion. Discussions by Their Excellencies the Council members focused on intensifying efforts and reviewing current strategies and policies to increase the added value of the commerce and industry sectors locally, and on aligning industrial development with the country's available natural resources. Members reiterated their call for raising Omanization rates in the manufacturing sector, recognizing it as one of the fastest-growing sectors, and stressed the importance of creating a clear plan to encourage industrial companies to absorb and develop national talent.

The members emphasized the importance of reinforcing incentives and facilitations to empower the industrial and commercial sectors. Recommendations included lowering electricity and water tariffs for commercial projects and industrial zones, increasing governmental support for pioneering and developmental projects, and reducing taxes and government fees.

Addressing concerns over several factories facing potential bankruptcy, members proposed establishing a National Center for Supporting distressed Industrial Projects to provide necessary assistance and recovery mechanisms.

The members highlighted the critical role of foreign investment as an effective solution to key economic and social challenges, such as job creation and industrial expansion. They urged the Ministry to work on creating a more attractive and flexible investment climate characterized by coordination among relevant entities. Members also pointed to several obstacles facing foreign investment efforts, including bureaucracy, overlapping jurisdictions, and localization policies.
The discussion also touched upon the rapid growth of e-commerce in the Sultanate of Oman. While recognizing its potential, members noted that many e-commerce businesses face operational and regulatory difficulties. A proposal was made to develop a unified national e-commerce platform under the supervision of the Ministry, aimed at supporting local sellers and integrating licensing, payment, and delivery services.

The members expressed concern over the fact that the ten most commonly licensed commercial activities are dominated by expatriate labor. This raises issues regarding weak value addition and limited local content. As a result, members called for close monitoring of this matter and proposed reducing the dominance of foreign labor in commercial activities, especially in executive and supervisory positions in both commercial and industrial institutions.

During the sitting  the issue of street vendors, which have become a cultural and tourist feature in some countries. However, in Oman, this sector remains poorly regulated, with vendors facing significant challenges that hinder their operations.

These discussions took place during the Council’s 14th Regular Session of the Second Annual Sitting (2024–2025) of its Tenth Term (2023–2027), chaired by H.E. Khalid Hilal Al Maawali, Chairman of the Shura Council, in the presence of Their Excellencies the Council Members and H.E. Ahmed Mohammed Al Nadabi, Secretary General of the Council.