Thursday 22 / May / 2025
Muscat: The second meeting of the National Team for Combating Hidden Trade reviewed the implementation of Ministerial Decision No. 412/2023, assessing the outcomes of the first phase of the audit process on commercial records and laying the groundwork for the second phase.
The meeting, held at the Ministry of Commerce, Industry, and Investment Promotion headquarters in Muscat, included a comprehensive review of office audit results from the first phase. These results demonstrated significant progress in identifying and monitoring commercial activities violating regulations within the scope of hidden trade, especially those previously prohibited for foreign investors. The team emphasised that these findings reflect a clear commitment to addressing these illegal practices that negatively impact Oman’s business environment.
Discussions also covered ways to enhance inspection procedures and ensure commercial records comply with existing laws and regulations, preventing them from engaging in unlawful business activities classified as hidden trade.
The National Team affirmed its continued collaboration with relevant authorities in implementing a comprehensive plan to combat hidden trade, ensuring a fair and attractive commercial environment for local and foreign investments. The plan aims to foster sustainable growth, protect consumer rights, and curb unfair competition in the Omani market.
Nusra bint Sultan Al-Habsi, Director General of Commerce and Chair of the National Team for Combating Hidden Trade at the Ministry of Commerce, Industry, and Investment Promotion, highlighted that the first phase results underscore the importance of effective coordination between governmental and private entities in identifying commercial violations. She noted that the team’s next phase will focus on strengthening this cooperation by developing monitoring tools and conducting joint awareness campaigns to educate stakeholders about the risks of hidden trade and its impact on competitiveness and investment.
Meanwhile, Mohammed bin Salem Al-Hashemi, Director of Establishment Oversight and Chair of the Technical Team at the Ministry of Commerce, Industry, and Investment Promotion, stated that the second phase will prioritize enhancing regulatory work methodologies and expanding audit scope to cover more governorates while engaging all relevant sectors in this national effort.
The decision to combat hidden trade aims to create an attractive business environment and provide suitable conditions in Oman by detailing the necessary procedures for registering foreign enterprises, specifying requirements, regulations, and timelines for issuing approvals, permits, or licenses for investment projects under the Foreign Capital Investment Law.
The National Team includes officials from the Ministry of Commerce, Industry, and Investment Promotion, the Ministry of Labor, the Ministry of Information represented by the Government Communication Center, the Tax Authority, the Central Bank of Oman, the Royal Oman Police, the Consumer Protection Authority, and the Small and Medium Enterprises Development Authority.
It is worth noting that the Ministry of Commerce, Industry, and Investment Promotion issued Ministerial Decision No. 412/2023 regarding combating hidden trade in cooperation with several government entities. This initiative seeks to reduce hidden trade in Oman and its economic and social consequences on business owners and society, responding to citizens' long-standing calls to curb this phenomenon.
