|Halal Ranking||7th in Global Muslim Travel Index (GMTI 2015)/Crescentrating|
|Halal-related agencies Intro|
|Halal compliance guidelines Intro|
For more guidance regarding Halal Compliance, please reference the site for Emirates Authority for Standardization and Metrology (ESMA)
To achieve this vision, Emirates Authority for Standardization and Metrology has taken prior measurements. Issued by the 19 Council of Ministers Resolution No.10 of the national legislative system for Halal products in January 2014; the Emirates Authority for Standardization and Metrology has now introduced a special 'Emirati system' for the control of Halal products. This system comprises of basic elements pertaining to Halal products, destination certificates and accreditation bodies such as the Halal certification mark that constitutes the optimal model to ensure the sequence of processing, and obtaining Halal products.
|Halal-related trade and trading|
Ministry of Commerce and Industry (MOCI) has established a One-Stop Shop (business.gov.om) for government clearances, including the new Invest Easy online business registration system. The site is still under construction as of December 4, 2015.
|Investment and Export Promotion Agencies Intro|
Public Authority for Investment Promotion and Export Development (Ithraa) is tasked with attracting foreign investors and smoothing the path for business formation and private sector development. Ithraa provides prospective foreign investors with information on government regulations.
Advantages of investing in Oman include:
|Investment and Export Promotion Agencies Names||Oman Investment Fund|
GCC-Singapore Free Trade Agreement (GSFTA) went into agreement January 1, 2015
The GCC is comprised of Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates.
U.S. - Oman Free Trade Agreement (OFTA) went into effect January 1, 2009
The U.S.-Oman FTA represents an important tool to foster continued economic engagement with Oman, open opportunities for U.S. farmers, manufacturers and services providers, and improve economic ties with a key U.S. ally. The FTA went into force on January 1, 2009.
The FTA between the United States and Oman spurs U.S. trade with Oman in goods and services by eliminating most tariff and nontariff barriers. Under the market access provisions of the FTA, the United States and Oman provided each other immediate duty-free access for tariff lines covering almost all consumer and industrial goods and 87% of all agricultural tariff lines. Both countries agreed to phase out all tariffs on the remaining eligible goods within 10 years.
The FTA contains trade facilitation measures designed to expedite the movement of goods and the provision of services between Oman and the United States; investment provisions intended to strengthen protections for U.S. investors operating in Oman, including allowing them to fully own a business without a local partner; and provisions on safeguards, intellectual property rights, government procurement, labor, environment, and dispute settlement to improve the regulatory climate for bilateral trade and investment. (Source: Export.gov)
|Company ownership limits |
(foreign and local)
The Foreign Capital Investment Law (Royal Decree No. 102/94) provides the legal framework for non-U.S. and non- Gulf Cooperation Council (GCC) foreign investors. Oman amended this law in 2000 as part of its WTO accession and in 2009 to implement the United States-Oman FTA. For most investments (apart from those covered by the FTA) this law requires that there be at least 30 percent Omani ownership, and more frequently requires a majority stake. There are exceptions; notably wholly foreign-owned branches of foreign banks are allowed to enter the market. Non-U.S. investors may also obtain approval by the Council of Ministers to allow a 100 percent foreign-owned business entity if the investment is in the national interest.
Issued on: 31 Dec 2018
|Media & Recreation||28.05|
|Pharma & Cosmetics||43.33|
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