Monday, 20 Mar 2023
Royal Directive for tax exemption to boost tourism in Musandam

Royal Directive for tax exemption to boost tourism in Musandam

Speaking to Muscat Daily, Raed bin Mohammed al Shehhi, member of the Board of Directors of the Oman Chamber of Commerce and Industry (OCCI) and head of its Musandam branch lauded the directive of His Majesty Sultan Qaboos bin Said concerning tax exemptions for new tourism investments in Musandam. He mentioned these directives showed the continuous particular care of His Majesty the Sultan enjoyed by the governorate.

He mentioned that the tax and duty exemptions had been a qualitative leap stimulating investments in tourism in the governorate. These investments encouraged by this Royal Directive would not be restricted to the hotel projects, but it will extend to all tourism activities. Now, a substantial improvement in the tourism solutions and activities, as nicely as entertainment facilities, is observed about the corner. All this will ultimately boost the living normal in the governorate. It is anticipated that this significant selection will aid boost the quantity of vacationers coming to the governorate and assistance the efforts to attain the objectives of methods of Musandam 2040. It will have a optimistic influence on the nearby economy of the governorate.  

Shehhi mentioned that Musandam has much more than ten hotel establishments of numerous classifications as an accommodation facility for the vacationers. However, the governorate wants distinct varieties of these hotels, tourism solutions, and goods to make it an integrated tourist location which meets all the specifications of citizens, residents, and guests. If this is accomplished, it will be an added worth for the nearby communities.

He pointed out that tourism investments had been lengthy-term investments and required some time to attain its objective and bring returns. The Royal Directive has come to encourage investments below these text exemptions.

He added that these exemptions had been a fantastic chance for investors to play their function in tourism improvement of the governorate.

According to feasibility research, the governorate wants much more tourism facilities and solutions to be began to strengthen the sector in all its wilayats. Shehhi mentioned that the Musandam branch of the OCCI supported all financial investments in the governorate and worked seriously for capacity creating for the nearby private sector.

It plays a function in formulating policies which add worth to numerous financial activities. Due to the geographical place of the governorate, the thought of providing on arrival visas to all nationalities on sea and air corridors ought to be looked into. It would boost tourism and encourage air carriers and shipping businesses in this sector. A joint visa facility with the UAE can also be an thought to encourage joint tourism.  

About the regional events and its use for development in tourism, Shehhi mentioned that the strategic place of the Governorate of Musandam ought to be employed in the interest of tourism.

Information Source: Muscat Daily

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