UAE: LuLu chief receives long-term residence visa in Oman

Abu Dhabi - As many as 22 leading expatriate investors from different countries received the card at a function held in Muscat


Ashwani Kumar

Published: Wed 29 Sep 2021, 8:42 PM

Last updated: Thu 30 Sep 2021, 7:18 AM

M.A. Yusuffali, chairman of the LuLu Group and vice-chairman of the Abu Dhabi Chamber of Commerce and Industry, on Wednesday received the Oman government’s long-term residency card.

As many as 22 leading expatriate investors from different countries, including Dr Shamsheer Vayalil, chairman and managing director of UAE-based VPS Healthcare, got the card at a function held in Muscat.

Yusuffali got the investor residency card from Qais bin Mohammed Al Yousef, Oman’s Minister of Commerce, Industry and Investment Promotions.

Khalid bin Saeed Al Shuaibi, Adviser to the Ministry of Commerce, Industry and Investment Promotion, Oman, said: “Oman is offering long-term residency to leading investors, who are making moves to create more jobs in Oman, and strengthen the national economy and enhance the investment quality.”

Yusuffali welcomed the introduction of the investor residency programme.

“I thank His Majesty Sultan Haitham bin Tariq Al Said, the ruler of Oman, and the Government of Oman,” he said.

“This long-term residency scheme, which is in line with Oman Vision 2040, will help boost the economy and create more employment opportunities. Such a visionary step will attract more foreign investors to Oman.”

The UAE-based Indian businessman has been honoured with the UAE’s Golden Visa and Saudi Arabia’s Premium Residency.

LuLu Group has 215 hypermarkets in the GCC countries, Egypt, Indonesia and Malaysia with 27 in Oman.

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