Oman Intensifies Efforts To Boost Bilateral Trade, Investments

KUALA LUMPUR, Nov 21 (Bernama) -- Oman is working on a "single station" system in its efforts to intensify bilateral trade and encourage investments, its ruler Sultan Qaboos Bin Sa'id said. In a statement issued by the Omani embassy here, the Sultan said that the system -- a Directorate of Investor Services (DIS) in the Ministry of Trade and Industry -- constituted many governmental bodies forming a single team to provide high quality and speedy services for investors with low costs. The system was being created amid Oman's intense efforts to be enrolled in bilateral agreements, which would enable it to increase trade with other countries, the statement quoted Sultan Qaboos as saying in his speech in conjunction with Oman's 41st National Day celebration on Friday. According to the Sultan, Oman has always been adopting economic and financial policies aimed at giving a greater role to the private sector in the process of economic development as well as encouraging local and foreign investments. The country was taking measures to enhance the capacities of the private sector and create an encouraging investment environment based on a secure and stable environment, modern regulations and comprehensive regulatory legislation, the world's lowest tax rates, a monetary system free of restrictions or obstacles, and providing modern infrastructure. The Sultan also said that development in various cities and villages has paved the way for the establishment of many economic, commercial and industrial projects as well as different educational, cultural, health and social institutions. Meanwhile, on relations with Malaysia, the embassy said that it represented an international exemplary model which is based on joint cooperation. The bilateral relations emphasised on the principles of friendship, love and peace between people through cultural, historical and economic projects in order to achieve mutual benefits for both countries. -- BERNAMA Malaysia