Following the global oil price drop in 2014, Oman – like the other GCC states – is pushing ahead with its long-term national development plans that seek to diversify the economy.
The Middle East Legal Framework
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Chapter | Legal Framework from The Report: Kuwait 2018
This chapter contains an overview of the legal framework in which local and international investors operate in Kuwait, including a look at the incentives available for qualifying overseas investors and the changes to intellectual property protection framework.
This chapter contains a viewpoint Alex Saleh, Partner, Al Tamimi & Co.
As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.
Sharjah has long played an important economic and cultural role in the UAE, and boasts one of the most diversified economies by regional standards, with no individual sector accounting for more than 20% of GDP.
Chapter | Legal Framework from The Report: Jordan 2018
This chapter contains an overview of the legal framework in which local and foreign investors operate in Jordan including an outline of workers’ rights and employer regulations and a summary of the types of company for investment. This chapter contains a viewpoint from Khaled Asfour, Managing Partner, Zu’bi Advocates & Legal Consultants.
As ongoing volatility continues to hamper growth in the region, Jordan has made significant progress in preserving macroeconomic stability and reducing its fiscal deficit in the past few years. Efforts to the fulfill the stipulations of a $723m extended fund facility agreement with the IMF continue, and the government may need to pursue more widespread reforms to increase income tax revenues and limit tax avoidance so as to sustain recent momentum.