Over 135,000 Companies in Oman Exist Only on Paper – Labour Minister
H.E. Dr. Mahad bin Saeed bin Ali Baowain, Minister of Labour of Oman, revealed that more than 135,000 registered companies in Oman exist only as commercial records without any business activity. In an interview with Oman TV, he…
H.E. Dr. Mahad bin Saeed bin Ali Baowain, Minister of Labour of Oman, revealed that more than 135,000 registered companies in Oman exist only as commercial records without any business activity. In an interview with Oman TV, he stated that out of over 400,000 registered companies, only about 265,000 are actively operating with employees.
Employment Challenges and Ministry Initiatives
🔹 Retaining 50,000 to 60,000 jobs for Omanis between 2021 and 2023 through company negotiations
🔹 12,000 to 16,000 job applications annually for public sector jobs, reflecting government pressure to create more opportunities
🔹 Mismatch between education and labor market needs, with plans for specialized training programs and workforce replacement initiatives
Wage Protection System & Transparency Measures
📌 Mandatory implementation of the Wage Protection System (WPS) since mid-2023
📌 Ensuring private sector salaries are transferred through official channels for greater transparency
📌 Fines and stricter penalties for non-compliance with WPS
📢 The Minister of Labour reaffirmed the ministry’s commitment to labor market reforms, job security for Omanis, and creating a sustainable employment environment. 🚀
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