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Oman Industry
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Economic update | The new reforms that will help fuel activity and growth in Oman’s mining sector
5 Apr 2019
Oman has sought to encourage new activity into its burgeoning mining sector following the ratification of new legislation that will see investors benefit from shorter approval times, more flexible royalty rates and a more transparent legal framework.
New investment is expected to help Oman sustain expansion of its manufacturing sector, which has established itself as a leading component of the economy on the back of strong recent growth.
A new mining strategy and mining law in Oman, plus efforts to improve port infrastructure, are expected to increase investment and promote growth in minerals exports.
Plans to accelerate development of the Omani fisheries industry are gaining pace, with a series of temporary labs designed to help operators overcome challenges.
With big plans for the modernisation of its waste management operations under way, including a transfer of the existing national infrastructure to international operators, Oman is nearing completion of major reforms in the sector.