Oman Chamber of Commerce and Industry forms investment council

Muscat: Oman Chamber of Commerce and Industry (OCCI) Board on Tuesday approved the formation of the Omani Investment Council to activate the role of the private companies, enterprises and entrepreneurs in attracting foreign investment.
During its meeting under the chair of Said bin Saleh Al Kiyoumi, Chairman of OCCI Board, the Board approved the formation of the first of its kind Omani Investment Council, which comprises a number of key Omani businessmen and investors who are looking for real investment opportunities. Chaired by the OCCI Board Chairman, the Council will be based in Muscat.
The formation of the Omani Investment Council comes within OCCI and private sector’s initiatives to achieve economic diversification and contribute to attracting foreign and local investments especially in light of the instability of oil prices.
On the other hand, OCCI Board approved the transfer of many financial powers to OCCI branches in the governorates. The move comes within OCCI’s trend to support the branches and enable them to carry out their roles and responsibilities towards growing the economy in the governorates and assisting them to enhance their economic and investment contributions.
The decision provides more powers that include managing their own approved budget without any interference of the main office.