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Oman: Over 135,000 companies exist only on paper

Oman: Over 135,000 companies exist only on paper

Oman: Over 135,000 companies exist only on paper

Feb 06, 2025

Muscat – H E Dr Mahad bin Saeed bin Ali Baowain, Minister of Labour, revealed that over 135,000 registered companies in Oman exist only as commercial records without any business activity. Speaking to Oman TV, he noted that out of more than 400,000 registered firms in the sultanate, only about 265,000 have active employees and operations.

Addressing employment challenges, H E Baowain highlighted the Ministry of Labour’s efforts between 2021 and 2023 to retain jobs for Omani nationals. Through negotiations with companies, the ministry successfully preserved 50,000 to 60,000 jobs despite economic fluctuations.

On demand for public sector jobs, the minister said the government receives 12,000 to 16,000 applications annually from jobseekers wanting employment in the public sector. This, he remarked, reflects the pressure on authorities to create more opportunities to meet  aspirations of the national workforce.

H E Baowain pointed to a disconnect between education outcomes and labour market requirements as a key challenge. To bridge this gap, the ministry is focusing on specialised training programmes and job replacement initiatives to align skills with market demands. He also touched on the impact of expatriates in low-skilled jobs, which continues to affect labour market dynamics. Efforts are underway to address these issues and create a more balanced workforce.

Regarding wage transparency, the minister highlighted the mandatory implementation of the Wage Protection System, which became compulsory mid-2023. The system ensures private sector salaries are transferred through regulated channels. Non-compliance has already led to fines, and stricter penalties will soon be enforced based on the number of employees whose wages are not processed through the system.

H E Baowain concluded by emphasising the ministry’s commitment to labour market reforms aimed at promoting job security for Omanis, improving transparency and creating a resilient employment environment.