Sultan of Oman, Sultan Haitham bin Tariq, during his presidency this morning, Tuesday morning, approved a cabinet meeting at the Al-Shamoukh Al-Amer Palace Palace, a plan for economic stimulation to achieve high growth rates, as planned in Oman 2040 Vision, to support economic recovery efforts and enhance the performance of the national economy According to the official Oman News Agency.

The plan included the following:

• Many incentives and initiatives such as reducing taxes and fees for companies that will start their activities during the year 2021 in the sectors of economic diversification.

Reducing the income tax rate for small and medium enterprises for the years 2021 and 2021.

Reducing the rental value in the Duqm Economic Zone until the end of 2022.

• A number of related measures, incentives for the business and investment environment in that plan, such as facilitating business conduct and granting long-term residency for foreign investors, which will be annulled later.

• Labor market incentives to provide job opportunities for job seekers

SOURCE: ALQABAS