Investor Residency Programme to include more categories after nod from Council of Ministers

Muscat – Oman is considering giving long-term residency to expatriate innovators, creators, programmers and entrepreneurs in the second phase of the Investor Residency Programme (IRP).

Speaking at a press conference on Wednesday, Khalid al Shuaibi, head of National Programme for Investment and Export Development (Nazdaher) of Oman Vision 2040 Implementation and Follow-up Unit, said that the second phase of IRP will have more categories once approved by the Council of Ministers.

“After implementing the first phase, we discovered that there is an increasing demand from other potential categories of innovators and important segments of the economy. We have submitted this proposal to the Council of Ministers for approval,” Shuaibi said.

Presenting the 2021 Annual Report of the unit, Abdulaziz bin Abdulrahman al Kharusi, director of Digital Transformation Programme, said that the government digital transformation programme saved it about RO159mn.

He added that work is underway to review all indicators of Oman Vision 2040 and verify their effectiveness in measuring and evaluating the path with clear targets every five years.

“The Digital Transformation Programme aims to enhance the efficiency of government institutions, find innovative solutions and improve the work environment by simplifying business models and providing channels and tools that make optimal use of the rapid technological changes,” Kharusi said.

According to Shuaibi, the number of initiatives under Nazdaher to support investments has reached 124, including 59 empowerment initiatives, 46 investment projects and 19 investment opportunities.

He informed that the programme works to enhance and empower the role of the private sector in leading economic development by creating an attractive investment environment. “The programme’s initiatives and projects are divided into two main parts, business environment and investment in sectors such as energy, mining, manufacturing, transportation, aviation, tourism, information technology, communication and food security.”

Speaking about the National Employment Programme, Badr bin Hamoud al Kharusi, head of development of the programme, said, “It seeks to find sustainable employment solutions and job opportunities for Omanis by expanding the local market.”

Also speaking at the press conference, Khamis bin Saif al Jabri, head of Oman Vision 2040 Implementation and Follow-Up Unit, stressed on the importance of the media’s role in highlighting and informing the community about what of the Oman Vision 2040 goals have been achieved.