Oman Sees 97% Increase in New Business Registrations
The Ministry of Commerce, Industry, and Investment Promotion of Oman has reported a remarkable 97.2% increase in new commercial records for the first quarter of 2024.
According to the ministry, the number of commercial records registered across Oman’s governorates reached an impressive 450,768 by the end of Q1 2024. This represents a significant jump from 7,816 records in Q1 2023 to 15,412 in the same period of 2024, marking a 97.2% increase.
This surge is attributed to the streamlined processes offered by the electronic Oman Business Platform, enabling investors, companies, and SME owners to complete transactions effortlessly. The platform has notably enhanced the ease and efficiency of obtaining various commercial records.
Number of Commercial Records Registered by Governorate
| Governorate | Number of Records |
|---|---|
| Muscat | 170,050 |
| North Al Batinah | 60,060 |
| South Al Batinah | 29,244 |
The data also highlighted the presence of 47,287 foreign investment records, reflecting Oman’s appeal to international businesses.
Growth in Licenses
| Type of License | Q1 2023 Count | Q1 2024 Count | Percentage Increase |
|---|---|---|---|
| Automatic Licenses | 393,808 | 638,795 | 62.2% |
| Industrial Licenses | 9,420 | 17,305 | 83.7% |
The ministry continues its efforts to digitize all services, aligning with the government’s digital transformation agenda.
Source: Oman Sees 97% Increase in New Business Registrations (omannews.gov.om)
