This chapter contains an outline of the tax framework within which local and international firms operate within Oman, including a look at the various models of business open to foreign investors and a breakdown of the new rules set out for Islamic financial transactions. This chapter contains an interview with Omar Al Sharif, Country Senior Partner Oman, PwC.
In the four decades after Sultan Qaboos bin Said Al Said assumed leadership in 1970, Oman made such strides in health care provision that the UN, in its “Human Development Report 2010”, declared it the most improved nation out of 135 countries. The sultanate is looking to breathe fresh momentum into the coming decades under its current long-term development plan, Health Vision 2050. Published...
Oman’s education sector has expanded rapidly since the 1970s, with the total number of schools in the sultanate rising from three in 1970 to 1725 in 2016. The sector is overseen by the Education Council, which was founded in 2012 to streamline all matters pertaining to education development in the country, and is composed of the country’s key education bodies, including the Ministry of...
While the focus on preserving Oman’s natural surroundings and cultural traditions has allowed the sultanate to retain much of the spirit of historic Arabia, the arrival of modern infrastructure and an emphasis on new sectors like activity-based tourism and ecotourism suggest the country is also adapting to the needs of the modern global travel market. Oman has some of the most diverse...
Developments in Oman’s telecoms sector in 2017 were centred on the announcement of a third mobile network operator licence and an increase in royalty rates from January 1, which led to a 35-40% drop in net profits that year for the two existing operators, Omantel and Ooredoo. With market penetration in the mobile sector at close to 150%, the sultanate’s third licence is expected to...
Targeted investment has seen Oman’s agriculture and fisheries sector make advances as the government seeks ways to sustain a growing population and foster a more diverse economy. According to the Ministry of Agriculture and Fisheries, in 2016 production rose by 4.3% for agriculture and 8.7% for fisheries to 1.87m and 280,000 tonnes, respectively. Production is estimated to increase further...
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