Oman’s five-year plans have emphasised the significance of diversification and privatisation. Recently, the government launched the Tanfeedh programme to achieve these goals, as documented in its ninth five-year plan. The Tanfeedh programme entails a review of the strategic sectors, which means identifying areas for improvement and enacting a...
Increasing the number of Omani nationals working in the private sector, coupled with the need to increase foreign direct investment and thereby generate job opportunities for Omanis, have been twin debate points in the public and private sector business community in recent years. Relevant data published by the National Centre for Statistics...
The 1996 Basic Statute of the State (also referred to as the Basic Law) sets out the legal structure of Oman and the respective functions of the executive and the judiciary, as well as citizens’ personal liberties and public obligations. It provides that Oman’s basic principles include free market economics, cooperation between the public and...
This chapter contains an overview of the legal framework in which local and foreign investors operate in the country, including a breakdown of the distinctions between conventional and Islamic banks, an outline of the employment regulations for both Omanis and foreigners, and a look at commercial and personal bankruptcy laws.
Despite ongoing economic pressures associated with the drop in oil prices, Oman’s diversification strategy and efforts to enhance wider revenue streams are beginning to bear fruit, as witnessed by continued growth in the non-oil sector despite dropping incomes and wider regional instability.
Despite high levels of government debt and the costs associated with hosting hundreds of thousands of refugees, Jordan’s economy has continued to demonstrate remarkable resilience in the face of ongoing regional instability. A raft of far-reaching reforms introduced in 2016, along with newly brokered international agreements, should help the kingdom continue along its slow but steady growth path in the years ahead.
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