Oman offers Pakistan to join for the bright business future

Oman offers Pakistan to join for the bright business future
Source: Associated Press of Pakistan

Redha Jumma Mohammad Ali-Al Saleh, the chairman of Oman Chamber of Commerce and Industry has said that under Vision 2040, his country is working in five sectors- mining, logistics, tourism, food industry, and industrial growth. And Pakistan is welcome to join them in this journey.

Oman is open for foreign investment as under the new rules, investors can now invest 100% capital with no need for having a local partner but it is better to have a local partner who could help easily in setting up businesses in Oman, he said during a visit to the Karachi Chamber of Commerce and Industry.

Leading a 20 member Omani delegation to Pakistan, Mr. Saleh said that taxes in Oman were much lower with tax holidays for up to five years. Oman has also opened a road to Saudi Arabia which has substantially reduced the distance, cost, and time hence, Oman can become a hub for export to Saudi Arabia, Iraq, Syria, and GCC countries, he added.

OCCI Chairman further said,

“Oman has free zones where no tax is applicable on production for exports while incentives are also being offered to new investors who can start businesses in a stable economic, social and political environment with availability of advanced infrastructure and other benefits including tax exemptions on equipment for establishing industrial projects.”

Source Dawn