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Ease of Doing Business - World Bank Report (Sultanate of Oman) - (2017)

The Annual Report of  “Ease of Doing Business”  is issued by The World Bank by measuring business regulations in the countries.

Look at the Report info-graphic (Ease of Doing Business 2017) (Oman)

Introduction

Sultanate of Oman is following several policies and plans in order to improve the business environment and build more strong and sustained economic. The degree of achievement of these plans are resulting in the “Ease of Doing Business” report which is issued by The World Bank annually. This report measures the indicators which are affecting the ease of doing business. It shows the variation happens in these indicators in the same country and comparison with other countries.

 

General Economy Information (Oman)

Region

Middle East & North Africa - Gulf Peninsula

Income Category

High Income

Population

4,490,541

GNI Per Capita (US$)

16,920


In which indicator had Oman good achievement?

1. Starting a Business.
2. Trading Across Borders.

 

How did Oman get the achievement in the two indicators?

 

Evaluation Mechanism

1. Starting a Business

What is measured?

Complexity and cost of regulatory processes.
Procedures | Time | Cost | Paid in minimum-capital to start a limited liability company.

Key Reform?

Abolished or reduced paid-in minimum capital requirement.
Oman made starting a business easier by removing the requirement to pay minimum capital within 3 months of incorporation.

Contributors in Achievement

Ministry of Commerce and Industry (Invest Easy Project).
Ministry of Man Power | Public Authority for Social Insurance (Integration with Invest Easy system).

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2. Trading Across Borders

What is measured?

Complexity and cost of regulatory processes.
Documents | Time | Cost to export and import by seaport.

Key Reform?

Introduced or improved electronic submission and processing of documents for exports.
Oman introduced a new online single window that decreased export border compliance time.

Contributers in Achievement

Royal Oman Police - Directorate General of Customs (BAYAN system).