Oman's Ministry of Commerce, Industry and Investment Promotion has signed an agreement with the Public Establishment for Industrial Estates (Madayn) to set up a framework for facilitating investment-related procedures, licences and approvals for the investors and business owners through Madayn’s Masar Service Centres in the various industrial cities. 

 

Masar aims to enhance flexible, easy and transparent dealings between the business community and the government, and also provide a reliable and secure environment for the companies to conduct day-to-day transactions with the concerned bodies. 

 

Madayn had last year inaugurated Masar Service Centres in Al Rusayl and Suhar Industrial Cities and is currently working on inaugurating Masar Service Centres in all the industrial cities. 

 

The agreement was signed by Dr Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, and Madayn CEO Hilal bin Hamad Al Hasani in the presence of Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion.

 

On the agreement, Ibtisam bint Ahmed Al Farooji, Director General of Investor Services at Madayn, said this comes along the lines of the efforts undertaken by the two bodies to attract and localise investments, simplify investment procedures, strengthen cooperation in common competences, and consequently contribute to achieving comprehensive and sustainable economic and social development in coordination with the relevant bodies. 

 

"We had established Masar to deliver a variety of services in a fast and effective manner to achieve an attractive investment environment for local and foreign investors," stated Al Farooji.

 

"With this in mind, efforts are being made to offer comprehensive services within Madayn’s industrial cities including road, electricity, water and sewage networks," she noted.

 

Al Farooji pointed out that as per the deal, all investment-related services offered by the Ministry of Commerce, Industry and Investment Promotion will be provided through Masar in Madayn’s various industrial cities.

 

“This agreement is fundamental to achieve the objectives of Masar Service Centre as it presents a platform that brings together several government bodies to facilitate procedures for the investors to obtain required approvals, permits and licenses for their projects under one roof and within a specific timeframe,” she added.