The 1996 Basic Statute of the State (also referred to as the Basic Law) sets out the legal structure of Oman and the 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 private...
The new Competition Protection and Monopoly Prevention Law (the Competition Law), which was published in December by Sultani Decree No. 67 of 2014, raises important compliance issues for companies doing business in Oman.
The goals of Oman’s current long-term strategy, Vision 2020, are to support growth, diversify away from oil and gas, and create employment opportunities for Omanis. Attracting inward foreign investment is a major factor in achieving these goals. Oman’s current legislation on foreign investment (the Foreign Capital Investment Law, or FCIL) was...
This chapter contains an overview of the legal framework within which local and international investors operate in Oman, including a look at the business environment for foreign investors, the different types of corporate entity recognized in Oman and a rundown of the various incentives available for inward investment. This chapter contains a viewpoint from Paul Sheridan, Managing Partner,...
Oman’s long history of political stability coupled with its favorable international trade agreements and special economic zones has ensured strong growth in economic output and exports in recent years. The fall in global prices is undoubtedly a concern for the sultanate, but the sustained focus on diversification schemes, as well as the country’s ongoing spending commitments on big-ticket projects should ensure steady growth moving forward.
The government of Jordan’s continuous efforts to enhance, support and incentivise investments have been boosted recently by the enactment of Investment Law No. 30 of 2014 (the New Investment Law), which sets out a legal framework that accommodates investors’ requirements and promises to provide an economic fillip.
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