The Ministry of Commerce, Industry, and Investment Promotion announces the list of activities prohibited for foreign investment, restricting them to Omani investors only. This decision stipulates that “a list of activities prohibited for foreign investment shall be issued by the minister.” The decision aims to balance attracting qualitative investments with encouraging entrepreneurial projects, in line with the government’s priority to empower small and medium enterprises (SMEs) that enhance the Omani economy. It serves as an incentive for Omanis to establish their own businesses and create new job opportunities for citizens. Omani investors are allowed to invest in all activities where foreign investment is prohibited. The decision also seeks to provide opportunities for Omani-owned SMEs in these sectors and ensure that projects and activities related to national identity and Omani heritage are not affected. This list will be updated according to the circumstances of each phase to keep pace with economic developments. The decision added 28 activities to the list reserved for Omani investors only, prohibiting foreign investors from engaging in them, bringing the total number of such activities to 123. The newly prohibited activities include the production of handicrafts by distilling flowers and herbs, the production of handicrafts for producing […]