Latest news with #HEQaisbinMohammedalYousef
Muscat Daily
16 hours ago
- Automotive
- Muscat Daily
Plans underway for centralised used car market in Muscat
Muscat – Ministry of Commerce, Industry and Investment Promotion (MoCIIP) held a workshop on Wednesday titled 'Regulating the Used Vehicle Sales Sector' as part of efforts to enhance collaboration with the private sector and create a more organised commercial environment. The workshop was attended by H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, with Majlis A'Shura members and representatives from Muscat Municipality, Royal Oman Police, Ministry of Interior and the General Administration of Customs. Stakeholders and representatives from used car dealerships across the country also participated. Nasra bint Sultan al Habsi, Director General of Commerce at MoCIIP, said the sector makes a significant contribution to the national economy and reaffirmed the ministry's commitment to regulating it and promoting a supportive business climate. She described the workshop as a platform to address challenges and find practical solutions. Participants highlighted several key issues including the absence of a centralised location for dealership operations, which leads to fragmented services and higher costs. Other concerns included the need to better regulate non-Omani participation to protect local businesses, high rental fees, limited financing, costly customs clearance and the presence of unlicensed vendors. Khazaen Economic City presented a proposal to develop a centrally located market for used vehicles in Muscat governorate. The project, currently under review, aims to bring all dealerships together in one integrated hub with dedicated facilities and services. Mansour bin Khalifa al Siyabi, Majlis A'Shura member from Bausher, welcomed MoCIIP's dialogue with stakeholders on the matter and suggested offering financial incentives to help dealerships move to the new site. He proposed forming a closed joint-stock company owned by dealers to manage the market and ensure sustainable operations and fair rents. Providing details of the planned central car market, Salim bin Sulaiman al Thuhli, CEO of Khazaen Economic City, said it would cover 500,000sqm and include showrooms for new and used cars, inspection and maintenance centres, insurance and registration services, auction facilities and various amenities such as banks, restaurants, fuel stations and parking. Thuhli said the project is designed to provide a one-stop hub for consumers and modern infrastructure for dealers, while supporting urban planning, simplifying government monitoring and generating reliable data for policymaking. Ali bin Hamad al Maamari, Director of Licensing Department at MoCIIP, said the workshop was part of a wider strategy to improve Oman's business environment and that its recommendations would be submitted to relevant authorities for follow-up. The workshop concluded with calls to commence work on the proposed central market and implement agreed measures to regulate the sector and facilitate a competitive, investor-friendly climate.
Muscat Daily
14-06-2025
- Business
- Muscat Daily
Oman, Uzbekistan ink deals to expand air links, trade
Tashkent, Uzbekistan – Oman and Uzbekistan have signed agreements to expand air transport rights and strengthen logistical cooperation, aiming to boost trade and investment ties between the two countries. The accords were reached during the fifth session of the Omani-Uzbek Joint Committee held in Tashkent on Friday. Both sides agreed to increase operating rights for airlines, support the re-export of Uzbek products through Omani ports, and enhance cooperation in scientific research and innovation. They also pledged to facilitate exchanges between their chambers of commerce and business delegations. The Omani delegation was led by H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, accompanied by H E Wafa bint Jabr al Busaidi, Ambassador of Oman to Uzbekistan. The Uzbek side was headed by Laziz Kudratov, Minister of Investment, Industry and Trade. Talks covered ways to deepen economic and trade relations and expand collaboration in sectors including energy, agriculture, higher education, tourism and culture. Both sides emphasised stronger partnerships between the public and private sectors. During his visit, H E Yousef met Sherzod Shermatov, Minister of Digital Technology of Uzbekistan, and discussed investment opportunities and trade challenges with Uzbek businessmen. He also attended roundtable meetings where investors from both countries reviewed available projects. Omar al Harthy, Senior Investment Analyst at the ministry, delivered a presentation on 'Invest in Oman', highlighting incentives for foreign investors. The Omani delegation held further meetings with representatives of the electronic payment technology, textiles and e-commerce sectors. H E Yousef also met Bakhtiar Saidov, Minister of Foreign Affairs of Uzbekistan, to review existing bilateral agreements and discuss updating them in line with current priorities. The delegation visited the International Exhibition Centre, meeting companies in innovation and industrial technology and viewing new projects by Uzbek institutions.
Muscat Daily
02-06-2025
- Business
- Muscat Daily
Oman's first copper recycling facility costing RO41mn launched
Muscat – Ministry of Commerce, Industry and Investment Promotion (MoCIIP) officially inaugurated Oman's first facility dedicated to recycling copper from mining waste on Monday, marking a significant development in the sultanate's green industrial efforts. The RO41mn plant is located in Suhar. Developed by Green Tech Mining and Services, the facility uses sustainable technologies to process legacy mining waste into copper cathodes. It is the first of its kind in Oman and aims to support the sultanate's transition towards a green economy. The opening was held under the patronage of H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, and attended by senior officials and industry representatives. The project forms part of wider goals under Oman Vision 2040 and the Oman Industrial Strategy 2040, which aim to increase the added value of local resources, localise industries and enhance competitiveness of the sultanate's industrial base. The integrated complex was developed through a partnership between BPG Group and Oman Mining Company, with direct support from MoCIIP. Production is scheduled to be-gin in June 2025, with an initial output of 60 tonnes of copper cathodes per year. The capacity is expected to increase to 12,000 tonnes annually by December 2026, making Oman a regional player in sustainable mining. H E Dr Saleh bin Saeed Masan, Undersecretary for Commerce and Industry in MoCIIP, said the facility represents a 'qualitative leap' in building an innovation-led and sustainable industrial sector. 'This project is a practical example of clean technology in action, and a testament to the government's commitment to integrating sustainability into industrial development,' he said. Khalid bin Salim al Qasabi, Director General of Industry in MoCIIP, stated that the facility supports the ministry's aim to promote industrial projects that meet global environmental and technical standards. Imran Shaikh, Managing Director of Green Tech Mining and Services, said the project is the result of a long-term partnership that began in 2018. 'Launching the first phase of production using renewable energy is a strong reflection of our commitment to sustainability and Oman's green economy.'
Muscat Daily
24-03-2025
- Business
- Muscat Daily
Omani-Bahraini bazaar opens at Mall of Oman
Muscat – The Omani-Bahraini Bazaar commenced this evening at Mall of Oman in the Wilayat of Bausher, Muscat governorate, under the patronage of H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion. The event aligns with the objectives of Oman Vision 2040 and Bahrain Vision 2030, aiming to enhance the role of small and medium enterprises (SMEs) in economic development. The exhibition features 30 exhibitors, comprising 17 Omanis and 13 Bahrainis, showcasing a diverse range of products, including fashion, perfumes, incense, Omani frankincense, traditional sweets, accessories, handicrafts, heritage items, and household supplies. Running until Wednesday, March 26, the exhibition seeks to strengthen the historical ties between Oman and Bahrain, support entrepreneurs, foster new investment opportunities, and promote bilateral trade. Dr. Juma bin Ahmed al Kaabi, Ambassador of Kingdom of Bahrain to Oman, highlighted that this edition of the exhibition reflects the government's commitment to supporting entrepreneurs in expanding their businesses and increasing their production. He noted that such initiatives contribute to the national economy and reinforce the robust relations between the two nations. Radina bint Amer bin Mohammed al Hajriya, Chairwoman of the Omani-Bahraini Friendship Association, stated that the exhibition is a result of collaboration between the Bahraini Embassy in Oman and the Association. She emphasised that organising exhibitions is a key priority for the Association, as they provide economic and commercial benefits to both countries by supporting SME owners. Hajri further noted that the Omani-Bahraini Bazaar in Muscat marks the fourth event organised by the Association, following the success of the products exhibition held in Manama in January. She also revealed that additional exhibitions, seminars, and conferences are planned for 2025, in cooperation with the embassies of both nations. The opening ceremony was attended by senior officials, diplomats, and members of civil society and the media. The event was jointly organised by the Omani-Bahraini Friendship Association and the Embassy of the Kingdom of Bahrain in Oman.
Muscat Daily
24-03-2025
- Business
- Muscat Daily
Omani-Bahraini bazaar opens at Oman Mall
Muscat – The Omani-Bahraini Bazaar commenced this evening at Oman Mall in the Wilayat of Bausher, Muscat governorate, under the patronage of H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion. The event aligns with the objectives of Oman Vision 2040 and Bahrain Vision 2030, aiming to enhance the role of small and medium enterprises (SMEs) in economic development. The exhibition features 30 exhibitors, comprising 17 Omanis and 13 Bahrainis, showcasing a diverse range of products, including fashion, perfumes, incense, Omani frankincense, traditional sweets, accessories, handicrafts, heritage items, and household supplies. Running until Wednesday, March 26, the exhibition seeks to strengthen the historical ties between Oman and Bahrain, support entrepreneurs, foster new investment opportunities, and promote bilateral trade. Dr. Juma bin Ahmed al Kaabi, Ambassador of Kingdom of Bahrain to Oman, highlighted that this edition of the exhibition reflects the government's commitment to supporting entrepreneurs in expanding their businesses and increasing their production. He noted that such initiatives contribute to the national economy and reinforce the robust relations between the two nations. Radina bint Amer bin Mohammed al Hajriya, Chairwoman of the Omani-Bahraini Friendship Association, stated that the exhibition is a result of collaboration between the Bahraini Embassy in Oman and the Association. She emphasised that organising exhibitions is a key priority for the Association, as they provide economic and commercial benefits to both countries by supporting SME owners. Hajri further noted that the Omani-Bahraini Bazaar in Muscat marks the fourth event organised by the Association, following the success of the products exhibition held in Manama in January. She also revealed that additional exhibitions, seminars, and conferences are planned for 2025, in cooperation with the embassies of both nations. The opening ceremony was attended by senior officials, diplomats, and members of civil society and the media. The event was jointly organised by the Omani-Bahraini Friendship Association and the Embassy of the Kingdom of Bahrain in Oman.
