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50 percent occupancy in government offices from today By: Times TV Starting today, government offices will function at only 50% employee capacity, with the rest of the staff working remotely, as part of the measures taken to stop the spread of COVID-19.
By: Times News Service Diversification and raising foreign direct investment into the country are two of the objectives of Vision 2040. Muscat: 50 industrial projects will be set up as part of continued efforts to diversify and encourage investment across multiple sectors of Oman’s economy. “The industry sector has worked on the idea of setting up 50 projects, at a total value of OMR200 million, to enhance local contribution,” said Qais Mohammed Al Yousef, the Minister of Commerce, Industry and Investment Promotion. “Involved in its development were Petroleum Development Oman (PDO) an...
By: Times News Service Muscat: There has been an 8.8 per cent decrease in public spending in February compared to the same period of 2020. The Ministry of Finance said: "By the end of February, the State’s General Budget recorded more than OMR 1 billion of total revenue and a drop in public spending by 8.8 per cent as compared to the same period of 2020." "Net oil revenue amounted to OMR 318.6 million based on the average crude oil price of $43.83 achieved in November 2020," the ministry added.
Bloomberg news network has said that the Sultanate of Oman has gone a long way in meeting its funding requirements for 2021.
Automatic licence approval plan to help in economic liberalisation in Oman By: Times News Service File photo Muscat: Businesses will now be able to set up operations in Oman faster, and investors will find it easier to support them, following the arrival of the automatic licence approval scheme. Introduced by the Ministry of Commerce, Industry, and Investment Promotion (MOCIIP), the scheme aims to cut the time required for businesses and investors to receive approvals towards contributing their resources to the country. “Facilitating procedures related to investment in the Sultanate is at t...