Muscat – The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) announced on Monday that it will launch 48 initiatives in the commercial and industrial sectors this year.

The announcement was made during its annual media meeting wherein the achievements of the past year and plans for the current year were reviewed.

The ministry stated that the volume of trade exchange between Oman and the world amounted to more than RO40bn until December 2022, registering an increase of 41 per cent, while the total exports were over RO25bn.

The ministry confirmed that there has been an increase in the contribution of domestic trade to the gross domestic product (GDP) from most economic activities at current prices, including the services sector by 9.7 per cent.

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