His Majesty Sultan Qaboos Bin Said announced in the First Graduation Ceremony in 1990 the establishment of a new college of Commerce and Economics (CCE) to be opened at Sultan Qaboos University in September 1993.

In September 1991, a Foundation Committee comprising representatives from leading business schools was set up to formulate the objectives, the degree structure and the curriculum for the new college, which is aimed to become a center of Excellence in Business and Economics education at the national and international levels.

In August 1993, 122 new students were admitted to the college, and started classes in September 1993. The official inauguration of CCE took place in October 1993 under the patronage of His Majesty Sultan Qaboos Bin Said during the fourth graduation ceremony. Since September 1993, the number of CCE faculty has increased from 7 to 81 in June 2009.

CCE Student enrollments have increased from 122 in September 1993 to 1,844 in June 2009. The CCE, as an integral part of Sultan Qaboos University, interacts with other colleges and utilizes the different facilities and resources available to the university.