Foreign direct investment in Oman for the first quarter of 2020 crossed OMR 15 billion, an increase of 5.9 per cent compared to the same quarter in 2019.
In a bid to boost bilateral trade and investment, India and Oman during the ninth session of India -Oman joint commission meeting (JCM) reviewed the recent developments in businesses and trades and reaffirmed their commitment to expand bilateral trades and encourage businesses to invest in each other's country to realize untapped potentials in commercial and economic relationships.
The process of gaining employment for foreign nationals in the country of Oman has been increasingly regulated as part of the Omanisation initiative. Once a foreign worker is officially employed by an Oman-based company, the employment visa process starts.
According to a recent “Oman Observer” report, a $350 million investment agreement was reached between a UAE investor and Oman’s Salalah Free Zone for the building of Technology City.
As of March 31st, 2020, tax authorities are now providing tax relief for corporations that are currently doing business in Oman and have been affected by COVID-19 as well as any Government imposed precautionary measures that were put in place to counteract the pandemic in Oman.