ESTABLISHING THE OMANI CENTRE FOR INVESTMENT PROMOTION & EXPORT DEVELOPMENT (OCIPED)
We, Qaboos bin Said, Sultan of Oman
After perusal of the Royal Decree No. 26/75 promulgating the law organizing the Administrative Apparatus of the State and Amendments thereto; and
The Royal Decree No. 116/91 promulgating the Statutes of public authorities and organizations; and
The Royal Decree No. 102/94 promulgating the Foreign Capital Investment Law; and
In pursuance of public interest
A public authority under the name “Omani Investment Promotion & Export Development Centre” shall be established pursuant to the provisions of this Decree and the attached statute.
The Centre shall enjoy administrative and financial autonomy, and shall have its seat in Muscat Governorate.
The funds appropriated for the staff of the Directorate General of Investment Promotion, and Exhibitions Department shall be transferred from the Ministry of Commerce & Industry to the Centre.
The Minister of Commerce & Industry shall issue the decisions necessary for the implementation of the provisions of this Decree.
This Decree shall be published in the Official Gazette, and shall come into force as from the date of its publication.
Qaboos Bin Said
Sultan of Oman
Issued on: 10 Safar 1417 H
Corresponding to: 26th June 1996
Article 1 Article 2 Article 3
Article 4 Article 5 Article 6
Article 7 Article 8 Article 9
Article 10 Article 11 Article 12
Article 13 Article 14
THE STATUTE OF THE OMANI CENTRE FOR INVESTMENT PROMOTION AND EXPORT DEVELOPMENT CENTRE
For the purpose of this statute, the following words shall have the meanings hereunder assigned to them:
The Minister: The Minister of Commerce & Industry
The Ministry: The Ministry of Commerce & Industry
The Board: The Center’s Board of Directors
The Center: Oman Investment Promotion & Export
Investment: Employment of foreign and local capitals in
projects useful for the national economy Provided that
their capital is not less than R.O (150) thousand.
The Centre aims at increasing the contribution of the private sector to the investments required for the development plans and promoting the export of Omani products to foreign countries to improve the balance of trade of the Sultanate.
So as to achieve its objectives, the Centre shall have the following jurisdictions:
I. To work out plans for investment promotion in the light of the following:
1. To concentrate on industrial, tourist, service,
agricultural and fisheries projects giving priority to the
projects concerned with the utilization of natural
resources and transfer of technology.
2. The project must result in added value to the national
economy and provide job opportunities for Omani
II. To evaluate investment policies and plans from time to time in the light of the latest developments according to the aims of the development plans.
III. To inform about investment climate by acquainting with the potentialities and facilities available and the privilege obtained by projects.
IV. To coordinate with the agencies concerned with the economic sectors to identify the investment opportunities available with them so as to prepare a list of the projects that may be enlisted in the promotion plan subject to the economic trends of the state.
V. To receive “investors” applications and issue the relevant necessary licenses pursuant to the jurisdictions of the Centre and in coordination with the concerned authorities.
VI. To finalize the procedures for investment licenses on behalf of the investors with other authorities for approvals or permits beyond the jurisdictions of the Centre, if they wish.
VII. To recommend the projects, deemed important by the Centre for the national economy, to local and foreign financing institutions to facilitate their financing.
To increase Omani product exports to foreign markets by:
I. Determining the Omani export oriented products and advertising them.
II. Conducting the market studies required for the determination of the target international markets for the Omani products.
III. Developing the Omani products and upgrading their quality by providing support for exporters.
IV. Suggesting export promotion related policies.
V. Organizing specialized exhibitions in the Sultanate and abroad in coordination with Oman International Exhibition Centre.
The Centre shall be managed by a Board of Directors to be formed under the Chairmanship of the Minister of Commerce & Industry and the membership of:
A representative of, at least, Director General Status, of each of:
Ministry of Agriculture & Fisheries
Ministry of National Economy
Ministry of Petroleum & Minerals
Ministry of Regional Municipalities & Environment
Ministry of development
Royal Oman Police
Five representatives of the private sector to be elected by the Minister of Commerce & Industry in coordination with the Chairman of Oman Chamber of Commerce & Industry.
The Executive President of the Center.
The Executive President shall take place of the Chairman when he is absent.
The Center shall have an Executive President to be appointed by the Minister of Commerce & Industry.
The Board is the competent authority to draw the policy to be followed by the Center to realize the objectives it is established for, and set the work plan of the Center’s various departments and shall, in particular:
1. Set the Organizational Structure of the Center and adjust it to cope with its functions and the expansion of its activities, and define, in details, the jurisdictions of the Center’s administrative decisions.
2. Set the administrative and financial regulations as well as the personnel regulations of the Center without abiding by the government rules and procedures.
3. Determine the charges to be collected for investment and export services.
4. Originate the permanent and temporary posts of the Center.
5. Prepare the annual budget and approve the final account of the center.
6. Appointment the auditor and determine his fees and approve his reports.
7. Determine the jurisdictions of the Executive President.
The Board may delegate some of its powers to its Chairman or the Executive President. The Executive President shall represent the Center before courts and in its contacts with third parties.
The Board shall submit an annual report on its activities to the Council of Ministers.
The resources of the Center shall consist of:
1. Funds appropriated for it in the stage general budget.
2. Grants, loans and subsidies obtained from the state.
3. Fees on approving certificates of origin.
4. Charges for services it provides to investors.
5. Charges on export services.
6. Any additional revenues realized by the Center from its activities.
The Center shall have an independent budget comprising revenues and expenses. The financial year of the Center begins on the first of January and ends on the 31 December each year, except for the first financial year which shall begin on the date of the coming into force of the present Decree upto 31 December of the following year.
The Center shall keep regular account books and records.
The funds of the Center shall be deemed public funds that enjoy the right and privileges of the treasury. The Center shall have the right to collect its debts according to the procedures followed in collecting government debts.
The Center shall be exempted from all kinds of taxes and duties imposed by the Governorate.
The minister of Commerce & Industry shall issue administrative, financial and personnel regulations and any other decisions necessary for the realization of the Center’s objectives.
Royal Decree amends part of decree on OCIPED
Royal Decree No.103/2004 amends some provisions of Royal Decree No.59/96, which established the Omani Centre for Investment Promotion and Export Development (OCIPED).
Article 1 of the decree replaces the phrase public authority mentioned in article 1 of Royal Decree No.59/96, which established the OCIPED by the phrase public institution.