MUSCAT: The Ministry of Commerce, Industry and Investment Promotion (MoCIIP), in cooperation with the Ministry of Labour, the Royal Oman Police and the Tax Authority, continues to implement the “Outstanding Companies” initiative — a national programme that celebrates high-performing private enterprises while fostering competitiveness, innovation and sustainable growth.
Designed to strengthen the private sector’s contribution to Oman Vision 2040, the initiative highlights companies that demonstrate excellence in governance, financial performance and institutional management. It aims to motivate firms to adopt global best practices, enhance productivity and play a stronger role in economic diversification and job creation.
Mubarak bin Mohammed al Dohani, Director General of Planning at MoCIIP and Head of the Supervisory Team for Distinguished Companies, said the initiative reflects the Ministry’s vision of building a resilient and competitive private sector driven by governance, innovation and sustainability.
“The companies recognised under this initiative have shown strong potential for growth, readiness to expand and an ability to adapt to global market changes. Beyond recognition, the initiative seeks to inspire all companies to enhance their efficiency, create quality jobs for Omanis and drive national economic development”, Al Dohani said.
According to the Ministry, 5,109 companies have so far been classified as “distinguished” out of a total of 352,622 registered firms. These firms accounted for 63.8 per cent of private sector exports, valued at RO 5.93 billion out of a total RO 9.28 billion by the end of 2024. They also employ around 140,881 Omanis, representing 40 per cent of national workers in the private sector.
Mubarak bin Mohammed al Dohani, Director General of Planning at MoCIIP and Head of the Supervisory Team for Distinguished Companies.
Tariq bin Nasser al Harrasi, Director of the Department of Commerce, Industry and Investment Promotion in Al Batinah South Governorate and Director of the Distinguished Companies Project, explained that classification is based on clear performance criteria, including company age, revenue, export value, Omanisation rate, number of branches and compliance with laws and regulations.
He said distinguished companies benefit from incentives such as participation in shaping trade policies, simplified government procedures and increased investor and customer confidence.
From the business community, Mustafa bin Ahmed Salman, a member of the Board of Directors at the Oman Chamber of Commerce and Industry (OCCI) and Chairman of its Finance and Insurance Committee, commended the initiative as “a vital step that reinforces the private sector’s central role in achieving sustainable development and attracting investments”.
“This approach supports companies that demonstrate innovation and efficiency, providing them with incentives that enhance their capacity to expand and compete in both local and regional markets”, Salman noted. “It also encourages other firms to adopt best practices and aspire to join the list of distinguished companies”.
The OCCI, he added, continues to support the initiative through active collaboration with government agencies to create a more flexible and attractive business environment, enabling Omani companies to compete regionally and globally.
Several leading firms recognised under the initiative spoke of their commitment to excellence.
Nasser bin Sulaiman al Azri, CEO of Vale Oman, said the company’s Category A classification underscores its dedication to developing an integrated industrial ecosystem aligned with Oman’s economic goals.
Samih bin Ahmed al Abdul Latif, Board Member of Gulf Agency (Oman), said the recognition motivates the company to continually raise its operational standards.
Faisal bin Salem al Mashani, Director of the CEO’s Office at Oman Flour Mills, stated that the Category A distinction reflects its commitment to sustainability and national food security.
Muath bin Ahmed al Hinai, CEO of Ansar, described the recognition as a milestone that strengthens customer confidence and opens new opportunities for expansion. “We are committed to developing our team’s capabilities, enhancing operational efficiency and building sustainable partnerships to maintain our excellence”, Al Hinai said.
The Outstanding Companies initiative stands as a cornerstone of Oman’s ongoing efforts to build a robust, knowledge-based economy — empowering local businesses, encouraging innovation and positioning the Sultanate of Oman as a leading hub for investment and enterprise in the region. — ONA
