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Muscat Daily
20 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.
Observer
14-06-2025
- Business
- Observer
Omani industrial exports to Saudi Arabia surge to RO 1.618 billion
MUSCAT: Omani industrial exports rose by 8.6 per cent year-on-year during the first quarter of 2025, reaching RO 1.618 billion, up from RO 1.49 billion in the same period of 2024. According to data released by the National Centre for Statistics and Information (NCSI) in May, the growth reflects the Sultanate of Oman's strengthening industrial footprint in regional markets, particularly Saudi Arabia. Saudi Arabia saw a 28.3 per cent increase in imports of Omani industrial goods, reaching RO 259 million—highlighting the deepening economic ties and rising demand for Omani products in the Kingdom. Nasra bint Sultan al Habsi, Director General of Trade at the Ministry of Commerce, Industry and Investment Promotion, attributed the growth to the efforts of the Economy, Trade and Industry Committee under the Omani-Saudi Coordination Council. "This committee has focused on easing trade barriers, harmonising customs procedures, enhancing border transit, and digitally linking the two countries' trade systems," she explained. A key development has been the use of the Rub' al-Khali border crossing, now a vital commercial artery facilitating the smooth flow of goods and services between the two nations. The committee is also advancing cooperation in areas such as intellectual property, e-commerce, competition, and export development. Nasra noted that Saudi Arabia is now Oman's second-largest trading partner within the Gulf region. She emphasised Oman's openness to increased Saudi investment, especially in special economic and free zones that offer state-of-the-art infrastructure and attractive incentives—aligned with Oman Vision 2040 and Saudi Vision 2030. Mazen bin Humaid al Siyabi, Assistant Director General at the Directorate General of Industry, noted that there has been marked progress in industrial cooperation between the two countries, with joint meetings, workshops, and investor engagements intensifying over the past year. He said that 'priority sectors such as advanced manufacturing, technology, and supply chains have seen notable growth in collaboration, laying the groundwork for industrial integration and shared innovation.' The Ministry's focus on diversifying markets, boosting productivity, and enhancing competitiveness is bearing fruit, he added, positioning Oman's industrial sector as a key driver of economic diversification. — ONA
Muscat Daily
14-06-2025
- Business
- Muscat Daily
Oman's industrial exports rise 8.6% to over RO1.6bn in Q1
Muscat – Oman's industrial exports rose sharply by 8.6% during the first quarter of 2025, reaching RO1.618bn, compared to RO1.49bn during the same period in 2024, according to the latest statistics released by the National Centre for Statistics and Information (NCSI). The NCSI data indicated that Omani industrial exports have experienced significant expansion across several regional markets, reflecting the growing presence of Oman's industrial sector on the regional trade map. Saudi Arabia recorded a robust 28.3% increase in its imports of Omani industrial products, reaching RO259mn – highlighting the strong economic ties between the two countries and the increasing demand for Omani goods in the Saudi market. In a statement to the Oman News Agency, Mazin bin Humaid al Siyabi, Assistant Director General of the Directorate General of Industry at the Ministry of Commerce, Industry and Investment Promotion, explained that the rapid growth in Omani industrial exports in recent months represents tangible evidence of the success of the ministry's industrial policies. 'These policies focus on diversifying export markets, improving production efficiency, enhancing the competitiveness of Omani products, achieving economic diversification goals, and building a resilient industrial base capable of adapting to global changes,' he said. Commenting on the growing trade between Oman and Saudi Arabia, Nasra bint Sultan al Habsi, Director General of Trade at the Ministry of Commerce, Industry and Investment Promotion, stated that the rise in trade between the two countries is a direct result of sustained bilateral cooperation and reflects the increasing economic integration across various sectors. She explained that the Economy, Trade and Industry Committee, an offshoot of the Omani-Saudi Coordination Council, has been committed, since its inception, to addressing trade-related challenges, standardising customs procedures, facilitating land transit at border crossings, and electronically linking the trade systems of both countries. 'These efforts have significantly contributed to improving the flow of goods and services and boosting commercial traffic through the Rub' al-Khali border crossing, which has become one of the key emerging arteries of trade between the two nations.' Nasra added that Saudi Arabia has become Oman's second-largest trading partner in the Gulf, amid rising aspirations for deeper industrial and commercial integration in the near future. She noted that Oman welcomes increased Saudi investment, particularly in special economic zones and free zones, which offer advanced infrastructure and competitive investment incentives. This is in line with the alignment of the strategic objectives of Oman Vision 2040 and Saudi Vision 2030. Siyabi highlighted that recent months have seen increased momentum in coordination and engagement between industrial sector officials in both countries. This has been reflected in a series of meetings, mutual visits, specialised workshops, and networking events for investors and entrepreneurs. He added that these initiatives have directly contributed to expanding areas of industrial cooperation, particularly in priority sectors such as manufacturing, advanced technologies, and supply chains. He pointed out that this new dynamism in industrial relations reflects the alignment of strategic visions between Oman and Saudi Arabia, adding that the shared emphasis on developing the industrial sector as a cornerstone of economic diversification is a promising strategy – one whose results are already evident in the growth of Omani industrial exports to Saudi Arabia and other regional markets.
Observer
24-05-2025
- Business
- Observer
Oman imposes anti-dumping duties on tile imports from China, India
MUSCAT: Starting May 29, Oman will begin applying anti-dumping duties on ceramic and porcelain tile imports from China and India at all customs ports. The Ministry of Commerce, Industry and Investment Promotion announced the move as part of the GCC Unified Law on Anti-Dumping, Countervailing, and Safeguard Measures. Nasra bint Sultan al Habsi, Director General of Commerce and GCC committee member, said the decision follows complaints from Gulf tile manufacturers about unfairly priced imports flooding local markets. A year-long investigation, led by the GCC's technical office, reviewed the claims and concluded that dumping practices were harming local industry. Based on its findings, the GCC Permanent Committee approved the duties for a period of five years. Ahmed bin Salem al Rasbi, Director General of the Competition and Anti-Monopoly Center, described the measure as a strategic move to protect the competitiveness of national industries. He noted that dumping distorts prices and undermines local manufacturers, while the new duties will promote fair trade, enhance product quality, expand local production, and generate jobs. 'This step ensures price stability and protects consumers in the long run by encouraging local investments and guarding against monopolistic practices,' he added. Khalid bin Issa l Ameri, head of Consumer Services and Market Control at the Consumer Protection Authority, said the Authority is actively monitoring the implementation of the duties. Inspections of tile retailers are being intensified to ensure price compliance and detect any irregularities. He warned that legal action will be taken against violators and urged suppliers to follow the law. Consumers are encouraged to report any misconduct related to tile pricing or sales. — ONA
Muscat Daily
24-05-2025
- Business
- Muscat Daily
Oman's action on hidden trade enters new phase
Muscat – The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) is intensifying efforts to combat hidden trade practices as part of a broader strategy to improve Oman's business climate and attract long-term investment. MoCIIP announced it will soon launch nationwide awareness campaigns targeting these practices, following a meeting of the National Team to Combat Hidden Trade held on Thursday. The team, established under a ministerial decision (No 412/2023), reviewed progress from the first phase of a commercial registration audit. Officials said the audit uncovered several violations, particularly by entities operating in sectors previously restricted to foreign investors. 'The results reflect a clear commitment to addressing these illegal practices that negatively impact the business environment in the sultanate,' the ministry said in a statement. Hidden trade typically involves foreign individuals or entities operating businesses through local intermediaries without proper licensing or legal oversight. Nasra bint Sultan al Habsi Nasra bint Sultan al Habsi, Director General of Commerce and head of the national team, said the success of the first phase demonstrated the importance of joint efforts between government and private entities. 'The second phase focuses on developing oversight methodologies and expanding the scope of auditing to include the largest number of governorates, while involving all relevant sectors in these national efforts,' she said. She added that the next phase will also include awareness campaigns to inform the public and business community about the risks posed by hidden trade, including its negative impact on competitiveness and investor confidence. MoCIIP's plan includes stricter enforcement of the Foreign Capital Investment Law, outlining conditions, licensing requirements, and procedures for foreign entities to legally operate in Oman. The national team includes representatives from the Ministry of Labour, the Government Communication Centre at the Ministry of Information, the Tax Authority, the Central Bank of Oman, the Royal Oman Police, the Public Authority for Consumer Protection, and the Authority for Small and Medium Enterprises Development. The ministry said the goal is to create a fair and competitive commercial environment that protects consumer rights and supports both local and foreign investors.
