Global research and advisory firm Oxford Business Group (OBG) will be bringing out The Report: Oman 2020, which will chart the latest measures taken by Oman to bolster the Sultanate’s privatisation efforts and promote an influx of foreign investment in economic sectors other than oil.
The report will examine all recently introduced legislations and regulations that create a conducive environment for investors, which includes the recently announced Commercial Companies Law that aims to bring in more foreign direct investment (FDI) into the country.
READ: Foreign Capital Investment Law to come into force from January 2020
Oman Vision 2040 will also be analysed in detail with regards to its role as a guide to the country’s diversification efforts in the coming years and development of national implementation programmes.
READ: ICT – Oman’s New Economic Sector
‘The Report: Oman 2020’ will be produced with Oman International Development and Investment (Ominvest), Ithraa, and the Oman Chamber of Commerce and Industry. Omnivest recently inked a deal with OBG to help produce the Capital Markets Chapter of The Report: Oman 2020 and other content that will be made available across OBG’s platforms.
Abdulaziz al Balushi, Group CEO expressed his delight on this partnership and said that the publication’s timing was significant on many levels.
“Building a strong partnership between the government and the private sector is extremely important for economic growth as recent major enhancements in the new Commercial Companies Law have exemplified,” he was quoted as saying.
“The government’s efforts to improve the ease of doing business will not only make the Omani economy more competitive but will also make the country more open and attractive to foreign investors. Further changes will improve the business environment for FDI and make our economy even more vibrant and diversified.”
READ: Oman’s Mining Sector: Catalyst for Economic Diversification
Jana Treeck, OBG’s Managing Director for the Middle East believes that Oman has taken definitely taken major legislative steps in the recent months to steer the country towards a sustainable, knowledge-based economy and that “the national drive to bring the sovereign wealth funds centre stage and inject more liquidity into the economy has a key role to play in these plans.”
Naiade Freitas, OBG’s Country Director for Oman also averred that Oman has made several positive reforms in 2019 to make the business climate more friendly and fluid.He cited the examples of enhancement of public private partnerships (PPPs), privatisation, and foreign capital investments.
Meanwhile, in a separate press statement, Ishaq Al Busaidi, Ithraa’s Marketing & Media Director General, explained the reasons for supporting the OBG team and said that Ithraa is focused on helping raise Oman’s international business profile, whether that’s taking local manufacturers to leading trade shows in Asia or Europe or hosting visiting investors looking for a base to set-up Middle East operations. “We’re working hard to attract inward investment and talent, promote our non-oil exports as well as encourage the next generation of Omani entrepreneurs.”
