Oman Chamber of Commerce and Industry arbitration centre launched
OCAC will play a major role in the settlement of commercial and economic disputes.
By ONA, Times of Oman
Muscat:Oman Chamber of Commerce and Industry (OCCI) yesterday held a press conference at its headquarters on the launch of Oman Commercial Arbitration Centre (OCAC) under the patronage of Qais bin Mohammed Al Yousef, OCCI Chairman. OCCI Chairman said that OCAC will play a major role in the settlement of commercial and economic disputes, as this will have a direct impact on enhancing the confidence of investors and businessmen in the trade and investment sectors.
“It will also contribute to attracting more local and regional investments and capital to the Sultanate, thus achieving the desired economic, social and human welfare,” he added.
Rashid bin Amer Al Meslahi, OCCI Deputy Chairman for Administrative and Financial Affairs, said, “The centre will complement the efforts exerted to build the state of institutions, a chain within the framework of the regulations and legislations aimed at improving the business environment in the Sultanate and encouraging investment attractiveness.” The centre will play a major role in resolving commercial disputes between companies, institutions and investors. It will contribute to attracting more local and regional investments and capital”.
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