The Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) in Oman has reported significant developments in company registrations and industrial projects for 2024. During the first quarter of this year, there was a remarkable 97.2% increase in new business registrations compared to the same period in 2023. This surge is largely attributed to the streamlined processes provided by the Oman Business Platform, which has made it easier for investors and entrepreneurs to register their businesses online.

Additionally, the ministry is set to introduce new procedures for converting Limited Liability Companies (LLCs) into joint-stock companies, aiming to enhance governance and encourage the growth and sustainability of businesses in Oman. This move is part of a broader initiative to strengthen Oman’s economic framework and support family-owned businesses in transitioning to more formal corporate structures.

The ministry has also attracted 35 new industrial projects with investments totaling approximately RO 800 million in the first quarter of 2024, demonstrating Oman’s commitment to fostering industrial growth and economic diversification.

These initiatives highlight the government’s ongoing efforts to improve the business environment in Oman, making it an increasingly attractive destination for both local and foreign investors【18†source】【19†source】【20†source】.