The recent steep decline in international oil prices led to a considerable budget deficit in Oman, pressuring the country into hastening its economic diversification plans. In July 2016 the National Programme for Enhancing Economic Diversification received approval by royal decree.
The past year has seen an unprecedented wave of regulatory and legal reform within Saudi Arabia. While these reforms were expected following the unveiling of the National Transformation Programme and Vision 2030 by Crown Prince Mohammed bin Salman Al Saud in early 2016, it is the pace at which these changes are coming to fruition that is...
The newly enacted Law No. 21 of 2015 governing and regulating the entry, exit and residency of expatriates – which entered into force December 16, 2016 – has been hailed as a momentous change to the prevailing labour environment in the state of Qatar, especially given the new epoch of advancement and achievement that is currently taking place...
The progress of a nation’s economic and commercial sectors depends greatly upon the implementation and support of a robust and efficient legal framework, which corresponds to the requirements needed to effectuate the growth of commerce, industry and investment. Legal experts in the GCC have witnessed a discernible and leading effort in Kuwait...
In an ongoing attempt to ease dispute resolutions, arbitration has become a core practice in the kingdom. Bahrain is the first country in the world to have a free arbitration zone and to introduce the concept of statutory arbitration for commercial and financial disputes, as stated by the President of the American Arbitration Association (AAA...
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...
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