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Muscat: His Excellency Faisal Abdullah Al Rawas, the Board Chairman of the Oman Chamber of Commerce and Business (OCCI), emphasised that the Chamber serves because the approved spokesperson for the personal sector within the Sultanate of Oman. The Chamber coordinates and expands industrial and industrial relations for all members and represents the personal sector in authorities and worldwide group conferences.
Throughout an interview on the “Maa ElShabab” program broadcasted on Oman TV, Al Rawas clarified, “Sultanate Decree No. 65 of 2022 outlines the roles and duties of the Chamber, together with expressing opinions on financial laws earlier than its issuance, promotion of Omani endeavours on the worldwide stage, international investments, and the formulation of financial research and analysis pinpointing challenges encountered by the personal sector. Lastly, presenting proposals and options to the pertinent authorities.”
H.E. Al Rawas emphasised that the Chamber prioritizes communication with all its members, listening to their wants and solutions. Moreover, the Chamber has greater than 300,000 members, together with small, medium, and huge firms; it additionally consists of 18 sectoral committees protecting all sectors throughout the Sultanate, with 800 enterprise homeowners. Notably, A particular committee tailor-made for the automotive trade, together with automobile brokers, is on observe to be fashioned throughout the subsequent two months, marking the addition of the nineteenth committee.
H.E. Al Rawas highlighted that the Chamber actively entails enterprise homeowners in sectoral committees, aiming to watch personal sector challenges and generate efficient options. Moreover, the Chamber is targeted on growing governance rules, fostering collaboration between the private and non-private sectors, and sustaining open communication with enterprise homeowners. The Chamber can also be working in direction of implementing a decentralized strategy throughout the provinces.
H.E. Al Rawas highlighted the Chamber’s initiative to streamline inside operations by introducing a brand new system and an inside evaluate of laws and rules to align with established governance requirements. He emphasised that the notion of profit-driven merchants is a false impression. As an alternative, H.E. Al Rawas believes that company social accountability is on observe to develop into the prevailing tradition for firms.
He identified that this cultural shift entails energetic contributions to non-public occasions and management in varied social initiatives. Notably, many companies allocate a selected portion of their funds to help complete company social accountability applications.
Emphasizing that Oman Imaginative and prescient 2040 focuses on the nationwide financial system and the personal sector, offering an incentive for personal sector development and improvement, H.E. Al-Rawas famous that international funding reached OMR 4 billion by the tip of October 2023.
He highlighted the numerous function of the Omani personal sector, contributing over 60% to the Gross Home Product (GDP). He confirmed that the partnership between the private and non-private sectors within the Sultanate is rising, with authorities tenders being assigned to the personal sector, contributing to enhancing its function within the nationwide financial system.
The Oman Chamber of Commerce and Business Chairman emphasised the pivotal function that household companies play within the Omani nationwide financial system, constituting a considerable portion of the registered firms within the Sultanate. He additional highlighted the Chamber’s dedication to cater to the various wants of firms, whether or not small, medium, or giant, with a selected deal with supporting household companies.
Commenting on the financial legislations and rules, he emphasised the Chamber’s proactive stance in articulating its voice on such laws. This proactive engagement serves the twin function of safeguarding the wants of the personal sector and bolstering its competitiveness. Notably, he underscored the importance of the federal government’s regard for the Chamber’s views on these legislations, highlighting a willingness to droop current legal guidelines that will hinder the personal sector’s competitiveness.
Moreover, he identified that the nation’s pursuit of job alternatives is a paramount concern. Notably, almost 90% of the workforce within the Sultanate is comprised of expatriates, with the bulk being unskilled labour, with some contending that expatriate labour is cheaper.
Nonetheless, recognizing the unprecedented productiveness and innovation of the Omani workforce when positioned in an acceptable place, we’re deeply dedicated to fostering their potential. Our focus lies in supporting and empowering Omani youth, encouraging entrepreneurship, and facilitating the institution of small and medium-sized enterprises to endorse their self-realization.
Concluding his remarks, His Excellency Faisal Abdullah Al Rawas, Chairman of the Oman Chamber of Commerce and Business, emphatically affirmed the Chamber’s unwavering dedication to attaining its aims. He underscored the Chamber’s dedication to actively supporting the personal sector, thereby fortifying its pivotal function in bolstering the nationwide financial system.
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