Over 137,000 e-transactions through Invest Easy portal last year
There were 137,333 electronic transaction made electronically through the Invest Easy portal till the end of December 2017. These transactions were made for new registries, renewal of commercial registries, addition of activities and changes in trade names, licenses of commercial and personal import and certificates of release and origin.
The ministry has said that there were 15,588 e-transactions recorded in Muscat governorate, 25,884 in North Bathinah, 18,143 in Al Buraimi governorate and 19,255 in Al Dhahirah governorate. There were 168,20 e-transaction done in South Al Sharqiyah governorate, 17,159 in Al Dakhliya, 9,682 in Dhofar, 6,716 e- transactions in North Al Sharqiyah, 2,766 in South Al Batinah, 4,184 in Musandam and 1,128 in Al Wusta governorate. Only nine transactions were made in the General Authority for Investment Promotion and Export Development.
The ministry has pointed out that investors inclination towards the use of electronic services contributes to the increase in the number of transactions, speedy completion of applications, clarity in the procedures and updating of all the company's data electronically. This also saves time and efforts as well as increases confidence among investors. The Easy Invest portal currently provides 78 services round the clock through the link www.investeasy.gov.om or though the Arabic domain of Easy Invest Oman.
The ministry also said that the portal can detect illegal transactions, like entering incorrect information about investors and forged bank statements. Also it can uncover people who have registries to practice hidden commercial activities, which are considered wrong practices and have negative implications on the local economy. This portal is one of the best systems in the world in terms of commercial registration. It is smart and innovative in processing the registration and doing its follow-up. It has the ability to deliver all data and statistics on the movement of commercial registration in the Sultanate to the officials and decision makers of the country, through a single window.
The Ministry of Commerce and Industry urges investors to abide by the law and cooperate with government agencies to end the practice of hidden trade. The portal "Easily Invest" can block any company and the owner of the company will not be able to do any transactions with the government organisations linked with the system. This system follows the companies and catches those violate the law.