At the base of the Arabian Peninsula, occupying a landmass slightly larger than Italy, Oman is the largest country in the GCC after Saudi Arabia. In recent years, the non-OPEC oil exporter’s economy has been undergoing a steady transformation, reorienting from oil toward a more diverse set of service and industry-based economic activities. So far, progress has been promising. In 2011 oil and gas accounted for 38.8% GDP.
With the continuation of higher-than-expected energy prices in 2012, the government has increased economic investments accordingly. These investments, which include infrastructure, social programmes and small-business development, are aimed toward better preparing the country for its post-fossil-fuel future. Over the past 35 years, Oman’s long-term economic agenda has been outlined by a series of five-year development plans, the eighth of which was announced in January 2011 for the period covering 2011 to 2015.
Bruce B Palmer, Managing Partner in Oman, Curtis, Mallet-Prevost, on international trade agreements and FDI
Nasser Said Al Mughairy, Managing Partner, Abu Timam Grant Thornton, on fostering new businesses
Explore any of the chapters below to select an article.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×