Oman has launched a multi-agency strategy to eliminate hidden trade and protect its growing economy. A top official from the Ministry of Commerce, Industry, and Investment Promotion shared details of this initiative. The strategy aims to enhance economic integrity in Oman through advanced digital tools and stronger oversight.
The Director General of Planning and Head of Digital Transformation leads this coordinated effort. According to him, hidden trade hurts local businesses and reduces public trust in the market. Therefore, the ministry continues to work closely with other agencies to detect and stop these illegal activities.
This national plan supports the broader goal of building a digitally integrated and transparent economy. Authorities want to improve trade monitoring systems and expand cooperation between government bodies. As a result, Oman can reduce risks to its investment climate and support ethical business practices.
Oman also focuses on educating businesses about economic integrity in Oman. Officials are using awareness campaigns to explain the risks and penalties of concealed trade. These outreach efforts encourage companies to follow the law and contribute to fair market competition.
Moreover, the ministry plans to use digital transformation to improve data collection and reporting. New systems will help identify suspicious trade activity faster. Additionally, this technology will support real-time collaboration across enforcement agencies.
To enhance this plan, the government formed special task forces. These teams include experts in trade, finance, and law. Their goal is to share insights, close legal loopholes, and build an efficient response network. This coordinated approach increases the chance of success.
In addition, economic integrity in Oman benefits long-term development goals. Investors want stability, and clean markets offer better opportunities. When businesses trust the system, they are more likely to invest, grow, and hire workers.
Furthermore, the strategy promotes fair competition by removing illegal trade actors. Law-abiding firms can compete equally without unfair pressure from hidden operations. The ministry believes this will raise the overall quality of commerce in Oman.
Moving forward, Oman will continue to upgrade its digital tools. The country also plans to review and update existing trade laws. These steps ensure the national system stays strong and effective.
By focusing on economic integrity, the government sends a strong message to global partners. Oman is committed to ethical growth, smart regulation, and long-term economic success.
