Oman declares measures to address unfair trade practices

By Rahul Vaimal, Associate Editor
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Oman’s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has issued recommendations to crack down on illegal activities such as secret trade and prohibit businesses from registering under various identities.

A team from the ministry tasked with studying these practices has “worked over two months to analyze several existing legislative frameworks, laws and procedures related to this and proposed improvements in line with current requirements.”

Ministry of Commerce and Industry (MOCI) said in a statement, “This would help make the illegal practices of hidden trade and companies holding multiple commercial registrations. In the spirit of working jointly with the private sector, several meetings with businessmen and companies were held, to help identify the challenges they face. Also, this will help them to overcome obstacles in a way that ensures government procedures are being followed while providing quick and fair solutions.”

“Proposals were also received from groups specializing in how these practices impacted society, which stressed the importance of community partnership in the functioning of the ministry,” commented in the statement.

The latest meeting of the working group, which was formed under Ministerial Decision No. 183/2020, was chaired by Qais bin Mohammed bin Moosa Al Yusuf, the Minister of Commerce, Industry and Investment Promotion.

The representatives from various public and private sector bodies, including Ministry of Commerce, Industry and Investment Promotion, the Ministry of Interior, the Ministry of Economy, the Ministry of Labour, the Ministry of Finance, the Royal Oman Police, Muscat Municipality, Dhofar Municipality, the Oman Chamber of Commerce and Industry and the Small and Medium Enterprises Development Authority, were also attended the conference.

MoCIIP said, “The tasks of the work team included reviewing the mechanisms and controls regulating multiple commercial registrations, monitoring private institutions to ensure correct business practices, and following up with companies to make sure they provide adequate housing for expatriate workers.”

“This also included meetings with the private sector, related organizations, and the concerned authorities to discuss their views over reducing the practice of multiple commercial registrations and the cancellation of lease contracts for commercial stores, as well as their consequences, as well as finding ways to ensure companies in the country follow the correct Omanisation practices,” added in the statement.