Muscat – In a significant move aimed at energising the local economy, Ministry of Commerce, Industry and Investment Promotion (MoCIIP), in collaboration with Consumer Protection Authority, has announced that commercial establishments can with immediate effect offer discounts and promotional prices on products without prior permission from the ministry.

However, to ensure transparency and proper monitoring, establishments planning to offer such discounts must notify the authority via email at [email protected]

The decision is expected to stimulate commercial activity, enhance market competitiveness and ensure products are available at reasonable prices, MoCIIP stated.

The new regulation, which comes as a relief to many business owners, outlines specific conditions to maintain fairness and protect consumers. Discounts and promotional offers are limited to a duration of three consecutive days per week and should not be held more than three times within a single calendar month. Additionally, the discounts offered must not exceed 30%.

Mubarak bin Mohammed al Dohani, Director General of Commerce at MoCIIP, informed that this new regulation is part of the ministry’s ongoing efforts to streamline procedures, allowing businesses to provide high-quality products and services alongside attractive offers more efficiently.

According to Dohani, this regulatory adjustment is expected to stimulate commercial and market activities, thereby triggering local economic growth. “Increased commercial activity will have positive ripple effects across society, contributing to overall economic well-being.”

Additionally, Dohani noted, the measure will create a more vibrant and flexible commercial environment, which is crucial for sustaining business growth in the local market. “The ministry aims to strengthen collaboration between the public and private sectors to achieve sustainable development and economic prosperity for all stakeholders.”

Approximately 7,370 permits for promotional offers and discounts had been issued as of mid-2024.