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Campaign to enhance economic competitiveness in Muscat

17 Sep 2023 Campaign to enhance economic competitiveness in Muscat By OUR CORRESPONDENT

Muscat – With an aim to spread awareness and improve economic competitiveness and business environment, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has planned an awareness campaigned for the Muscat governorate to be launched on Monday.

‘Together to Ensure Freedom of Competition’ will be launched under the patronage of Sayyid Saud bin Hilal al Busaidi, Governor of Muscat, and in the presence of H E Qais bin Mohammed bin Moosa al Yousef, Minister of Commerce, Industry and Investment Promotion, at Oman Chamber of Commerce and Industry in Muscat.

Speaking to Muscat Daily, an official at MoCIIP said, “The first phase of the campaign started in Buraimi in May. The campaign aims to educate citizens across all governorates about the vital role played by the Center for Competition Protection and Monopoly Prevention.”

The objective is also to promote awareness regarding the Competition Protection and Monopoly Prevention Law and its executive regulations, contribute to economic growth, enhance economic competitiveness, foster a culture that protects competition and prevents monopoly, introduce the provisions of the law and the principles of free market and introduce the anti-dumping law and underscore its role in protecting the national industry,” the official further added.

“The awareness campaign seeks to familiarise individuals with the business landscape and the specialised services provided by the centre,” he informed.

It underscores the crucial role of competition protection and anti-monopoly laws in driving economic growth, fostering competitiveness, and nurturing a legal culture centered around fair competition and the prevention of monopolistic practices.

“The campaign endeavours to educate various stakeholders, including consumers, merchants, and investors, about the provisions of these laws and the fundamental principles of a free market, which are crucial for cultivating a thriving competitive economy.”

According to the official, the campaign will highlight the importance of the anti-dumping law in safeguarding Oman’s national industry against detrimental practices in international trade.

“The ministry is committed to providing consumers freedom of choice, establishing fair competition to maintain a competitive market structure, and ensuring compliance with laws, regulations, decisions and relevant instructions.”

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