MUSCAT, Aug. 11 (Xinhua) -- Oman's Financial Services Authority (FSA) on Sunday outlined a program to launch a package of capital market incentives, with an aim to developing the country's investment and business environment, according to a statement by the authority.
The five-year Capital Market Incentive Program (CMIP) features three primary components: supporting the establishment or conversion of family-owned business into public joint stock companies; launching a new sub-market on the Muscat Stock Exchange known as the "Promising Companies Market;" and facilitating the transition of limited liability companies into closed joint stock companies, the statement said.
The program is expected to generate investment opportunities for local and foreign investors, expand investor base, enhance the liquidity of the stock exchange, and upgrade Muscat Stock Exchange, it said.
The program also aims to transform the capital market into a national economic system, and enable the capital market to play its desired role as a long-term financing tool for economic projects, it said.
